Canada Nematicides Market Outlook 2031:
The Canada nematicides market size was valued at USD 106.51 Million in 2022 and is projected to reach USD 155.58 Million by 2031, expanding at a CAGR of 4.3% during the forecast period 2023 - 2031. The growth of the market is attributed to rising government initiatives to improve the agricultural sector in the country.
Modern agriculture is dependent water, fertilizer, seeds, and pesticides. Pesticides have become an integral part of modern agriculture and are used extensively by farmers. Nematicides are chemical substances that are used to kill nematodes in farms. Nematodes are parasites of plants, which can infest all parts of the plant, leading to severe crop damage.
Although Canada is a major exporter of agricultural products, the demand for agricultural products has been rising at a healthy rate in the recent years. Increasing demand for the food products along with the heavy crop losses has put up a major challenge to the farming community.
The crop losses are owing to the presence of nematodes, which were are found inside the crops. An approximate 15%-20% of the crop damage in Canada is due to nematodes. To avoid crop losses and damage, the demand for nematicides is growing at a high rate in the country.
Canada Nematicides Market Drivers, Restraints, Trends, and Opportunities
- Growing demand for high-value crops such as fruits, vegetables, and plantation crops and rising purchasing power are expected to propel the market growth.
- Rapid urbanization has reduced the arable land, which is further increasing the demand for nematicides in the country.
- Low per capita consumption of pesticides can restraint the market growth.
- The COVID-19 pandemic had disrupted the supply chain across the globe. This, in turn, had hampered the growth of the market. However, declining number of cases and announcement of stimulus package are expected to help the market recover soon.
- Increasing demand for nematicides owing to huge crop losses is fueling the growth of the market.
Scope of Nematicides Market Report
The report on the Canada nematicides Market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Canada Nematicides Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023-2031
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Segmentation
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Chemical Types (Fumigants, Organophosphate, Carbamates, Bio-based Nematicides, and Others) and Applications (Crop-based Nematicides [Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Commercial Crops and Non-crop-based Nematicides [Turf and Ornamentals and Others])
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Geographic Zone
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Canada
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bayer CropScience AG, American Vanguard Corporation, Buckman Laboratories International Inc., Syngenta International AG, and Marrone Bio Innovations Inc.
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Canada Nematicides Market Segment Insights
Bio-based nematicides segment to account for a major market share
Based on chemical types, the market is divided as fumigants, organophosphate, carbamates, bio-based nematicides, and others.
The bio-based nematicides segment is projected to account for a major market share and is anticipated to register a CAGR of 7% during the forecast period. The segment growth is attributed to the adoption of integrated pest management techniques. Moreover, growing demand for organic crop chemicals is boosting the growth of the market segment.
Crop-based nematicides segment to exhibit a substantial CAGR
Based on applications, the market is segregated into crop-based nematicides and non-crop-based nematicides.
The crop-based nematicides segment is further divided into grains and cereals, pulses and oilseeds, fruits and vegetables, and commercial crops. Rising food demand and growing awareness about nematicides in the country is propelling the growth of the market segment.
On the other hand, the non-crop-based nematicides is sub-segmented into turf and ornamentals and others. The crop-based nematicides segment is expected to expand at a rapid pace owing to the increasing use of this type of nematicides by farmers.
Segments
Chemical Types
- Fumigants
- Organophosphate
- Carbamates
- Bio-based Nematicides
- Others
Applications
- Crop-based Nematicides
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Commercial Crops
- Non-crop-based Nematicides
- Turf and Ornamentals
- Others
Country
Key Players
Competitive Landscape
Some of the major players in the market are Bayer CropScience AG, American Vanguard Corporation, Buckman Laboratories International Inc., Syngenta International AG, and Marrone Bio Innovations Inc.
In the Canadian nematicides market, companies not only compete on product quality or product promotion, but also paying attention to acquire a larger market share. The players in the market are heavily investing to diversify their biological research on bio-based nematicides. The Canadian nematicide market is highly-fragmented. Many small players occupy major portion of the market, with top players having a diverse and growing product portfolio.
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