The global nematicides market size is estimated to be valued at USD 1.3 billion in 2019 and is projected to be worth USD 1.6 billion by 2025, recording a CAGR of 3.4% during the forecast period. The strong demand for high-value crops, crop losses due to nematodes, and advancements in farming practices and technology are some of the factors driving growth in the nematicides market.
By type, bionematicides are projected to be the fastest-growing segment in the nematicides market during the forecast period
With the increasing awareness among consumers about the importance of organic foods, the adoption of sustainable agriculture and integrated pest management solutions has increased. This has led to the demand for biocontrol products such as pheromones, biofungicides, biopesticides, and bionematicides. A number of major players in the market such as Marrone Bio Innovations (US) and Valent BioSciences (US) are introducing bionematicide solutions for seed treatment. These factors have paved the way for the high growth rate in the bionematicides market.
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By crop type, vegetables are projected to dominate the nematicides market.
The vegetables segment is projected to hold the largest market share owing to the increasing cases of infestation on vegetables such as potatoes, tomatoes, peas, cauliflower, and carrots, by nematode species such as root-knot, lesion, and cyst nematodes. The increasing acreage being brought under vegetable cultivation and the growing demand for organic vegetables drive the growth of this segment.
Key players in this market include Corteva Agriscience (US), Syngenta (Switzerland), Bayer AG (Germany), and BASF SE (Germany). New product launches, expansions, acquisitions, and agreements & joint ventures were some of the core strengths of the leading players in the nematicides market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
Some of the other players in the nematicides market include Adama Agricultural Solutions Ltd (Israel), FMC Corporation (US), Nufarm (Australia), UPL Limited (India), Isagro Group (Italy), Valent USA (US), Chr. Hansen (Denmark), Certis USA LLC (US), Marrone Bio Innovations (US), American Vanguard Corporation (US), Crop IQ Technology (UK), and Real IPM Kenya (Kenya).
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Recent Developments:
- In August 2018, BASF SE acquired a wide range of businesses and assets from Bayer CropScience (Germany). This acquisition would complement crop protection, biotech, and digital farming activities. This acquisition also allowed the company to enter the non-selective herbicide and nematicide seed treatment markets.
- In October 2018, Corteva Agriscience launched Reklemel, a novel sulfonamide nematicide, which has a unique mode of action against plant-parasitic nematodes. This product is set to be launched by 2021 across North America and Asia Pacific.
- In March 2019, Nufarm Ltd (Australia) completed the acquisition of BASF’s Trunemco, a nematicide management system for seed treatment catering to crops, such as soybean, corn, and cottonseed.
- In May 2019, Bayer AG launched BioAct Prime for the prevention of plant-parasitic nematodes in fruits and vegetable crops.
- In June 2019, UPL Limited acquired Arysta LifeScience Inc. (Japan), a global provider of innovative crop protection solutions for a sum of USD 4.2 billion. This acquisition would aid UPL in providing better crop protection solutions and expand its presence in Africa, Russia, and Eastern Europe.
