Nematicide Market to Rear Excessive Growth | 2025
The
vendor landscape of the global nematicides market is considerably
fragmented, due an assortment of players excessively focusing on
developing quality products, observes Transparency Market Research,
on the basis of a recent report. Several products are expected to be
launched in the upcoming years by most players, thus giving rise to a
cutthroat yet healthy competition. Most businesses operating in the
global nematicide market look forward to implement strategies such as
collaborations and mergers in order to expand their reach as well as
product portfolio. Key players existing in this market are Monsanto
Company Syngenta International AG, Nufarm Ltd. Company, DowDuPont
Inc., FMC Corporation, and Bayer AG, among others.
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Based
on crop analysis, the fruits and vegetables segment is expected to
rake in maximum profits as a result of their high demand in the
global nematicide market. Geography-wise, the North American region
is expected to dominate, owing to surging demand of quality,
infection-free foods as well as safety regulations and other
initiatives put in by the government.
Owing
to effort taken by the most enterprises to develop quality products,
coupled with rapidly increasing demand of the nematicides, the market
for these chemicals is expected to gradually rise at a CAGR of 3.3%,
and clock a valuation of US$1326.99 mn by 2025. This rise is expected
to occur from an initial valuation of US$995.01 mn registered in
2016.
Rapid
Industrialization Boosts Requirement of Nematicides
Harmful
effects are caused by nematodes to roots of crops and other plants
thereby hampering their growth. This may lead to farmers bearing
financial losses, thus requiring implementation of particular
measures to reverse this scenario. Such a dire consequence has led
towards increasing implementation of the nematicides to get rid of
the nematode worms, thus driving the relevant market. In the last few
years, rapid industrialization and urbanization has lessened the
availability of arable and fertile land, which has caused nematodes
to thrive in such conditions. This had caused a rapid uptake of the
nematicides by farmers and agriculturists all over the globe, thus
boosting the market. There also are a few industrial applications of
these chemical products, thus diversifying the market’s reach.
With
an ever-growing population, a rapid surge in demand of quality
foodstuffs has been noted. This has caused farmers to use
fertilizers, nematicides, pesticides, and other such substances to
bring about proper crop growth, thus improving the chances of
receiving a good yield. In this way, rise in population has
indirectly existed as a boosting factor for the global nematicide
market. Increasing demand for better crop protection as well as
initiatives from various governments to promote use of
bio-nematicides is catalyzing demand in the global nematicide market.
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Rising
Environmental and Health Concerns Diminish Growth
In
contrast to these factors, the global nematicide market is hindered
by a few restraints. Rising concerns about the fallout of synthetic
nematicides on health and on the environment are said to be posing a
challenge to the market growth. Strict regulations enforced by large
organizations such as the Environmental Health Sciences (NIEHS) and
Environmental Protection Agency, is expected to limit the use of
nematicides in many regions around the globe, thus posing as an
obstacle against their sales. However, governmental bodies from
numerous nations are imparting greater focus on using organic
nematicides, which is expected to reduce harm caused to surrounding
environment, as compared to the inorganic ones. This is expected to
open up new avenues for growth.
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