The global nematicide market is projected to grow at a CAGR of 3.3% to reach US$ 1327 Mn by 2025. The growth of the market will be influenced by a range of macroeconomic and micro economic factors. Increasing demand for agriculture products such as cereals, grains, fruits and vegetables will continue to drive demand for nematicide during the forecast period. These insights are according to a recent research report titled “Nematicide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” that has been added to the database of Market Research Reports Search Engine (MRRSE).
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Nematicide is a chemical pesticide that is widely used in the agriculture sector. Its widespread use in preventing the impact of nematodes is likely to drive the market growth during the assessment period. However, as concerns about the growing use of chemicals on plants is increasing, the end users are shifting to eco-friendly options. This can hurt the interests of nematicide manufacturers during the assessment period.
The report offers detailed segmentation on the basis of products, crop and regions. North America continues to be one of the leading market for nematicide globally. The growth of the market in North America is driven by steady demand from end-users in the US. According to the report, the US will continue to be one of the leading markets for nematicides globally, with Canada accounting for a miniscule share in the North America market.
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In addition to North America, the Asia Pacific is also a lucrative market for nematicide manufacturers. Home to nearly 60% of world’s population, demand for food is expected to increase at a staggering rate in the region. Governments are promoting the use of pesticides to boost production, and this is likely to provide an impetus to market growth over the forecast period. Among the various countries in Asia Pacific, China and India remain notable owing to their large population. Years of economic development in these two countries has led to the emergence of a strong middle class, which has also led to increasing consumption of various food products. On the back of these factors, the nematicide market in Asia Pacific is likely to grow at a steady pace.
The report also offers a detailed competitive landscape of the market, highlighting the product and business strategies of key players. Some of the leading companies profiled in the market include Syngenta International AG, Bayer AG, DowDuPont Inc, FMC Corporation, Monsanto Company, and Nufarm Ltd.
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