Nematicides Market worth $1.4 billion By 2023

The report "Nematicides Market by Type (Fumigant, Carbamate, Organophosphate, Bionematicide), Form (Solid, Liquid), Method of Application (Fumigation, Irrigation, Seed Treatment), Application (Agricultural, Industrial), and Region - Global Forecast to 2022", Vegetables and fruits continue to remain a staple food among consumers. With their increasing consumption across regions, farmers are focusing on increasing the crop yield by preventing plant-parasitic nematodes that degrade the quality of crops. The consumption of cereals, fruits, and vegetables is projected to increase in parallel to the demand for nematicides among farmers. According to MarketsandMarkets, the nematicides market is expected to account for a value of USD 1.4 billion, recording a CAGR of 3.3%.

Browse 68 market data Tables and 47 Figures spread through 144 Pages and in-depth TOC on "Nematicides Market by Type (Fumigant, Carbamate, Organophosphate, Bionematicide), Form (Solid, Liquid), Method of Application (Fumigation, Irrigation, Seed Treatment), Application (Agricultural, Industrial), and Region - Global Forecast to 2022"
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The Granular or Powdered Form of Nematicides to Outsell the Liquid Form in the Market Throughout 2023

For effective results to prevent nematodes, farmers are increasingly using the granular or powdered form of nematicides. Application of the powdered or granular form contain less active ingredients and remains preferred among farmers due to its convenient application in water or soil. The active ingredients in the granular or powdered form of nematicides are released in the area of application, which prevents any damage to the crops due to plant-parasitic nematodes. Due to these factors, the demand for granular or powdered nematicides remains high in the market during the forecast period.

The Fumigant Segment Is Projected To Be a Leading Revenue Contributor in the Nematicides Market During the Forecast Period

With the growing need to eliminate pests and nematodes in the infected areas of crops, farmers witness a surge in demand for nematicides across regions. The demand for nematicides remains high during the fumigation process, as it improves the crop quality and increases the yield. During the fumigation process, the infected area is covered in a sealed environment with vinyl-coated tents, plastics, and tapes, post which fumigant gas is released inside the tent, which kills infestations in the crops. On account of these factors, the fumigant segment is projected to be a leading revenue contributor in the market till 2023.

The Nematicides Market To Record the Fastest Growth in Asia Pacific During the Forecast Period

Agriculture is one of the key contributors to the economic growth of various countries in Asia Pacific. Farmers in this region mainly focus on increasing their crop yield to cater to the increasing demand from consumers. With the growing need to kill infestations and nematodes, the market for nematicides among farmers is projected to remain high in this region. The demand for high-quality and nutrient-dense crops continues to persist in parallel to the increasing population in various countries here. These factors are projected to escalate the demand for nematicides in the region during the forecast period.

Major players in the nematicides market are adopting strategies such as mergers & acquisitions, new product launches, agreements, and expansions to sustain their position in the market. Key players operating in this market include Bayer CropScience Ag (Germany), BASF SE (Germany), Dow AgroSciences LLC (US), FMC Corporation (US), and Monsanto (US).

All in all, the growth of the nematicides market is projected to remain influenced by the increasing consumption of health-enriching diets of consumers. Leading players focus on undertaking expansions to enhance their brand presence across regions and expand their customer base. Due to these factors, the growth of this market is projected to remain high during the forecast period.

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Report Code
AGI 2533
PR Published ON
1/31/2017
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