Published On : 06 Dec 2018
The global nematicide market is anticipated to witness an aggressive growth during the forecast period 2018 – 2025, owing to rapid industrialization and incessant rise in nematodes all across the world. Nematodes are a type of worms which adversely affects the growth of crops. This has caused the farmers to incur heavy loss. In order to deal with nematode worms, farmers have extensively started using nematicides, a type of pesticides that directly targets nematodes. Affective results has increased the demand for nematicides all across the globe and as a result.
What Factors Drive the Market?
One of the major factor driving the market is the rapid industrialization which has significantly brought down the cultivable or arable land on this planet. Decrease in number of cultivable land have brought tremendous pressure on the farmers to increase their production rate in order to meet the increasing demand for food in the world. This factor has augmented the sales of market product stupendously. With limited land for cultivating, farmers are compelled to increase yield rate within a time period, thus making them to uptake nematicide which promises to protect the crop and increase the yield rate.
Apart from these, government aid to develop bio-nematicides which will replace conventional synthetic pesticides is anticipated to gain immense popularity for bio-nematicides among environmental concerned population. Growing awareness regarding harmful affect that synthetic pesticide can cause on health is favoring the uptake of bio-nematicides. Aggressive growth of food and beverages industry throughout the globe due to rise in population is likely to support the market growth. Furthermore, rise in spending capacity of consumers along with increasing demand for high quality food is foreseen to bolster market growth.
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What Factors Restrains Market Growth?
The market is confronted with several restraints which are likely to bring down the market. Increasing concerns among consumers regarding the ill effects that nematicides can bring on environment and health are prognosticated to hamper market growth.
Which Type Product to Dominate the Market?
On the basis of product, the global market for nematicide market is segregated into carbamate, bionematicide, organophosphate, and fumigant. Of these, fumigants are used more thus making it the leading segment in the market. Fumigant is generally used on high value crops such as fruits and vegetables. However, it is anticipated that organophosphate is expected to exhibit a decent growth during the forecast period.
Which Region to Hold Majority Share and Why?
Based on region, the market is segregated into Europe, China, Japan, India, North America, and Southeast Asia. Amongst these, North America to dominate the market owing to high demand for quality food products in the region. However, China and India are expected to exhibit a steady growth rate due to increase in population along with rise in living standards in these nations. Apart from these, Europe is also likely to show a steady growth rate in the market.
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