The global nematicide market size is expected to reach USD 5,017.71 million by 2032, according to a new study by Polaris Market Research. The report “Nematicide Market Share, Size, Trends, Industry Analysis Report, By Type (Fumigants, Organophosphate, Carbonate, and Bio-based); By Crop; By Formulation; By Region; Segment Forecast, 2032-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growing preferences towards organic food products worldwide and a rise in the trend of bio-nematicides because of the urging adoption of several sustainable agricultural practices along with the high advancements and technological developments in farming methods and processes are key factors influencing the market growth exponentially. Additionally, a rapid surge in the incidences of pollution, demand for high-value crops, and increasing penetration for customized solutions mainly targeted toward specific pests and biological product usage are expected to gain traction and create profitable growth opportunities for the market.
For instance, in November 2022, Syngenta announced the launch of its latest advanced nematicide in Argentina, named Victrato & Vaniva, which provides long-lasting protection against nematodes and soil-borne diseases. It safeguards the root of the plant from attack, & resistance to early-season diseases.
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Moreover, with the rapid increase in environmental and pollution-related concerns across the globe and also health hazards associated with different conventional agrochemicals, customers and especially growers are shifting towards new biological products, including bionematicides to use against the nematodes on standing crops, which results in crop damages and also reduce the overall farm quality and yield.
Despite considerable efforts by various large companies and governments across the globe in recent years, most farmers are getting aware of biological products & their numerous benefits in increasing cost-yield sustainability. On the other hand, in countries like India and China, the most populous nations in the world and where agriculture is the leading income source, food demand is expected to remain higher. Thus farmers are highly adopting innovative farming practices, creating lucrative market growth opportunities.
Nematicide Market Report Highlights
Polaris Market Research has segmented the nematicide market report based on type, crop, formulation, and region:
Nematicide, Type Outlook (Revenue - USD Million, 2019 - 2032)
Nematicide, Crop Outlook (Revenue - USD Million, 2019 - 2032)
Nematicide, Formulation Outlook (Revenue - USD Million, 2019 - 2032)
Nematicide, Regional Outlook (Revenue - USD Million, 2019 - 2032)