The agricultural fumigant market is driven by the need to minimize post-harvest losses and manage pests effectively. Increasing soil salinity in major agricultural countries like India, China, and the US is pushing demand for organic fumigants. While concerns about safety exist, solid fumigants like phosphine offer advantages in cost, efficiency, and ease of handling, making them popular choices.
NEWARK, Del., May 7, 2024 /PRNewswire/ -- According to Future Market Insights, the agricultural fumigant market is experiencing a marked increase in valuation, with a growth from US$ 1,190.0 million in 2019 to US$ 1667.0 million in 2024. This growth is expected to continue, with an estimated valuation of US$ 2,830 million for 2034 and a projected CAGR of 5.4% through 2034. This growth can be attributed to various factors, including advancements in farming techniques and the need for effective and economical pest management techniques to minimize post-harvest losses.
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One of the key drivers of growth in the agricultural fumigant market is the increasing salinity of the soil, which has forced farmers in countries like India, the United States, and China to adopt organic agrarian fumigants. Suppliers store produce, and with advancements in storage techniques, fumigant demand has also accelerated.
It is important to note that fumigants can cause problems like phytotoxicity according to crop type, seasonal conditions, and more. Research shows that fumigants can be used only by professional fumigators due to their high toxicity, which can promote lower-risk fumigants as land safety is prime for farmers.
Despite this, the market for agricultural fumigants remains robust, with solid forms such as phosphine being particularly popular due to their higher efficiency and lower cost compared to other fumigants. Solid forms are also easier to handle and store, making them more convenient for suppliers to stock and sell.
"Suppliers and farmers alike will need to remain vigilant to ensure the safe and effective use of these products, but with the right precautions in place, the agricultural fumigant market is poised for continued success, " says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Market Study
- Phosphine product type covers a share of 5.2% for 2024 in this agricultural fumigant market.
- Solid form tops in the agricultural fumigant sector, contributing a share of 5.0% for 2024
- The agricultural fumigants market in South Korea is predicted to rise by an 8 % CAGR through 2034.
- The agricultural fumigants market in Japan has exponentially increased to a 7.1% CAGR through 2034.
- The agricultural fumigants market in the United Kingdom is projected to inflate at a CAGR of 6.6 % through 2034.
- The agricultural fumigants market in China is anticipated to develop at a CAGR of 6.2% through 2034.
- The agricultural fumigants market in the United States is estimated to rise at a 5.7% CAGR through 2034.
Competitive Landscape
Manufacturers are aimed at meeting the transforming needs of local and international farmers. Major companies are advancing with artificial intelligence and new monitoring techniques to provide seamless and hassle-free experiences with the best quality yields. Overall, the market is filled with high-end companies contributing to taking the agricultural sector to new heights.
Market players in the agricultural fumigant industry are Syngenta International AG, Amvac Chemical Corporation, Corteva Agriscience, BASF, Detia Degesch GmbH, ADAMA Ltd., Nufarm Limited, Arkema, Solvay, UPL Limited, Nippon Chemical Industrial Co., Ltd., Tessenderlo Group.
Recent Developments:
- MustGrow Biologics Corp.'s TerraSanteTM Crop Fertilizer and Soil Amendment technology received USDA Organic approval in October 2023.
- Researchers exploring the potential of nanopesticides for grain storage in a February 2022 article in Frontiers in Nanotechnology to reduce agricultural losses from insect infestation.
Purchase now and gain full access to the Agricultural Fumigant Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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