Nematicides Market Size, Share & Industry Analysis, By Type (Fumigants, Organophosphate, Carbamate, Bio-based), By Crop (Vegetables, Field Crops, Fruits, and Others), By Formulation (Liquid, Granular or Emulsifiable Liquid, and Others), and Regional Forecast, 2024-2032

The global nematicides market size was valued at USD 1.60 billion in 2023 and is projected to grow from USD 1.66 billion in 2024 to USD 2.54 billion by 2032, exhibiting a CAGR of 5.50% during the forecast period. North America dominated the nematicides market with a market share of 31.93% in 2023. Moreover, the nematicidies market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 608.89 million by 2032, driven by rising need to increase crop yield and quality and declining arable land in the country. 

Amplified demand for high-value crops, such as fruits and vegetables, and rising incidence of nematode infestation are leading to the increasing demand for nematode control products. Higher acceptance and appreciation of the product amongst growers in developing and developed countries are influencing the market growth trajectory. In addition, the ongoing research & development activities for the production of sustainable nematode control products are fueling the present growth scenario.

The pandemic outbreak has resulted in the slowdown of the global market due to various socio-economic changes. Similar to the conventional pesticides industry, manufacturers of nematicides across various economies face challenges due to uneven supplies of raw materials and labor shortages. The leading market players witnessed a slight decline in their crop protection product segment's revenue generated during 2020. For instance, Bayer AG, a German multinational life sciences company, saw 5% decrease in sales of its crop sciences products in 2020 compared to 2019. The shift in customer demand and low product registration due to the COVID-19 disruption drove the decline in sales.

Nematicides Market Trends

Proliferating Demand for Sustainable Agri-inputs to Support Growth of Market

Increasing environmental concerns and health problems caused due to synthetic agri-inputs have led to the significant demand for sustainable agri-inputs such as bio-based nematicides. Organic farming is gradually encouraged as an ideal substitute for conventional practice to reduce the overall impact on human beings and the environment. The favorable growth trajectory of organic farming is predicted to benefit the future growth of bio-based crop protection chemicals during the forecast period.

Furthermore, prominent industry manufacturers are focused on getting regulatory submissions for bionematicide products to meet consumer and grower demand for sustainable agricultural solutions. For instance, in June 2023, Certis Biologicals, an agro-chemical company, received approval from the California Department of Pesticide Regulation for its biologicals nematicide - MeloCon LC, specially designed to control the threat of nematodes in crop fields, orchards, and vineyards. Therefore, increasing efforts by companies to receive regulatory approvals and develop safe nematicides is creating growth opportunities for the market.

Nematicides Market Growth Factors

Ever-rising Demand for Food is Playing a Crucial Role in Market Growth

The growing emphasis on food safety and security to achieve a sustainable future surges the demand for food products. Agriculture is one of the most important industries in terms of meeting demand. According to the Food and Agriculture Organization, the global cereal utilization in 2023-24 reached 2,822 million tons, growing by 1.2% from 2022-23. Developing countries in Asia Pacific are expected to account for half of the increase in global cereal demand due to rising urbanization and rapid economic growth. However, crop production suffers yield losses due to pest and pathogen attacks, prompting growers to use nematicides to improve quality and quantity. According to the Food and Agriculture Organization (FAO), annual crop losses due to nematode infestation are estimated to be around 12.3%, amounting to USD 77 million per year. To overcome this, farmers focus on increasing productivity – greater yields from the available hectare of land, thus instigating the demand for high-quality nematocides.

Rising Investment in R&D Activities to Support Market Growth

The growing focus of key players on developing innovative and new crop protection solutions has influenced them to invest in research and development, positively impacting the market growth. For instance, in May 2020, Syngenta introduced the TYMIRIUM technology platform brand. It is a revolutionary nematocides and fungicide technology developed for seed and soil applications. Syngenta's investment in innovation, such as TYMIRIUM technology, demonstrates its commitment to providing farmers with tools that help them sustainably increase production.

RESTRAINING FACTORS

High Environmental Risk Associated with the Use of Chemical Pesticides is Restricting Market Growth

Pesticides are regarded as one of the most important components of agricultural production. Farmers have used them for centuries to control insects and weeds that reduce overall yield. Pesticide use has increased globally as agricultural production increased, raising concerns about environmental damage and calls to reduce the use of hazardous chemicals. Without pesticides, fruit, vegetable, and cereal production would be reduced by nearly 78%, 54%, and 32%. However, repeated use of such chemically synthesized pesticides can negatively affect the environment and human health, potentially impeding the nematicides market growth.

Nematicides Market Segmentation Analysis

By Type Analysis

Fumigants to be Leading Type Owing to its High Efficiency and Volatility

Fumigants are broad-spectrum nematicide products where the active component transfers through the soil as a gas. Fumigants are not bound by soil or taken up by plants. Thus, they have a short period of residual pesticide activity and are highly effective compared to other types such as organophosphate and carbamate. In addition to killing plant-parasitic nematodes, they are effective against various soil-borne pests and pathogens. They are used to disinfect soil and reduce the risk of yield loss due to soil-borne pests in high-value crops like vegetables and fruits. Numerous advantages of fumigants are likely to support the segment's steady growth.

The bio-based segment is growing at the highest pace in the global market. The increasing popularity and adoption rate of bio-based nematocide products is predicted to be a favorable factor for market growth. The use of bio-based products is eco-friendlier and economical than chemical-based products, which is expected to increase the utilization of bio-based nematicide products in the forthcoming years.

By Crop Analysis

Vegetables to Emerged as Leading Segment Due to Rising Incidences of Nematode Infestation in Vegetables

The vegetables segment is predicted to hold the largest market share due to the rising incidences of nematode infestation on numerous vegetables such as carrots, potatoes, and tomatoes. Nematode-infected roots become damaged and distorted, which hamper the quality and quantity of the product. Moreover, nematodes also aggravate the harmful effects of fungi and bacteria. Hence, vegetable crop growers use nematocide products to treat nematodes and avoid product losses. The increasing farmer inclination toward cultivating organic fruits, vegetables, and cereals is expected to boost the demand for bio-based nematicide products in the coming years.

The fruit segment is expected to witness significant growth, owing to the risk of plant-parasitic nematodes on the roots and leaves of fruit crops. Several types of nematodes are known to cause extensive root necrosis in fruit orchards, which results in significant economic losses. Major nematode pests that infect the fruit crop type are citrus, burrowing, and root-knot nematodes. Thus, nematode management is important for high yields and quality of fruit production, which further propels market growth.

By Formulation Analysis

Liquid Formulation to be Extensively Utilized Product Form among Farmers

Liquid formulation of the product secured a larger revenue chunk, and the segment is anticipated to grow at a significant pace throughout the forecast period. The demand for liquid nematode control products is high among farmers across the globe owing to ease of application, convenience in the usage of the product, and evade any wastage or spoilage of the product due to contamination.

The granular or powder formulation of the product is also gaining traction among farmers due to the comparatively long shelf life, easy storage, and transport of the product.

REGIONAL INSIGHTS

The market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa in terms of geography.

North America dominated the global market and was valued at USD 544.69 million in 2023. North America is the leading market for nematode control products at present, and it is projected to hold a major proportion of the global market share during the foreseeable years. The growth in the North American market is mainly driven by the rising need to increase crop yield and quality, declining arable land, and the awareness regarding the product application to get high-quality yield. The demand for bionematicides is also rising due to growing organic farming and demand for organic food.

The demand for nematode control products in Asia Pacific is predicted to remain promising due to the rising cultivation of high-value crops such as vegetables and fruits. As a result, numerous prominent market players operating in the global market are expanding their business in the region. Moreover, high profit linked with the export of organic vegetables and fruits is forcing farmers to use bio-based nematocide products, which is another reason ascribed to the latent growth of the market within the region.

The demand for these crop protection solutions is rapidly increasing across South America due to rising yield loss. The increase in nematode attacks on major crops such as maize, vegetables, soybean, coffee, and many others can severely affect the yield quantity and quality, affecting the profit of growers. Moreover, these crops are easily infested by nematodes due to poor soil management and double cropping pattern. There has been a significant increase in nematocide product launches and approvals in South America. Leading agricultural nutrients companies are also relying on base expansion to strengthen their market position in the South American market.

The rising infestation of nematodes on major crops, such as potatoes and sugar beet, is affecting the overall quality and quantity of the crops, which will propel the growth of the market in Europe. In addition, the rising focus of governments on encouraging the adoption of environment-friendly agricultural inputs and practices is predicted to give a boost to the bionematicide market in the upcoming period.

List of Key Companies in Nematicides Market

Emphasis on Innovative Product Development to Positively Aid Market Growth

The tremendous increase in the cultivation of high-value crops, such as fruits and vegetables, is expected to upsurge the demand for nematode control products at a stronger pace. The rising demand for this product is gravitating major players to diversify their product portfolio and distribution network to increase their market reach and consumer base. Mergers & acquisitions and new product development are some of the crucial strategies adopted by the major players to compete in the global market. For instance, in February 2024, Syngenta Korea, a subsidiary company of Syngenta AG, launched a novel nematode product, “Vaniva,” to control the entire life cycle of plant parasitic nematodes. The new product has been developed using the TYMIRIUM TM technology.

LIST OF KEY COMPANIES PROFILED:

• Bayer AG (Germany)


• UPL Limited (India)


• FMC Corporation (U.S.)


• Corteva Agriscience (U.S.)


• Syngenta (Switzerland)


• BASF SE (Germany)


• Sumitomo Chemical Co., Ltd. (Japan)


• Nufarm Limited (Australia)


• Marrone Bio Innovations (U.S.)


• American Vanguard Corporation (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2023 -  Corteva Agriscience, one of the leading global agriculture companies, launched Reklemel™ active, a new nematicide developed for row crops, to protect them against plant-parasitic nematode damage, while maintaining the balance of beneficial organisms in the soil.


• November 2022 – Syngenta Brazil, one of the subsidiary companies of Syngenta AG, extended its crop protection portfolio by launching two fungicide products – Victrato and nimaticide – Vaniva, using the Tymirium technology.


• March 2022 - BioConsortia, Inc., a U.S.-based agricultural R&D company, announced the development and registration of two new nematicides upon its successful field trials on corn and other important crops. The new product controls nematodes and increases crop yields.


• September 2021 - Marrone Bio Innovations, Inc., an international leader in sustainable bioprotection, announced that it had submitted its next-generation nematicide, MBI-306, to regulatory authorities in the U.S.


• December 2021 - BASF SE launched its first bionematicide in Brazil with the trade name Votivo Prime. The bionematicide is based on the bacterium Bacillus Firmus, which improves the root system and diminishes stresses on soybeans, rice, wheat, corn, and cotton. The product is safe to use in conjunction with chemicals and other biological insecticides.

Report Coverage

The global report provides qualitative and quantitative insights into the market and a detailed analysis of market size and growth rate for all possible segments in the market. Along with this, the research report provides an elaborative analysis of the market dynamics, SWOT analysis, and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key nematicides industry trends.

Report Scope & Segmentation