Global Nematicide Market Set To Grow Near $2 Billion in Value by 2034
October 1, 2024 According to a new report from Transparency Market Research, the global nematicide industry was worth $1.3 billion (USD) in 2023. A compound annual growth rate (CAGR) of 3.5% is expected for the next decade, which would result in $1.9 billion by 2034 (USD).
The variety of chemical categories utilized in this class of pesticides has been expanded with the introduction or development of various new nematicides.
The report’s authors point out more biocontrol agents that abide by biosafety standards have been developed in recent years. Bionematicides, which use both bacterial and fungal nematicides, are becoming increasingly popular due to the demand for sustainable farming methods, regulatory support, and research findings.
The IRAC Nematode Working Group was formed to examine the potential for resistance in novel nematicides and create a categorization system for their mechanism of action comparable to that of insect and acaricides. Nematicides can be more effectively managed and used with this classification scheme.
To view and download a sample copy of the report on the global nematicide market outlook, visit TransparencyMarketResearch.com.
