Agricultural Fumigants Market: Market Research Report on Growth Trends, Demand Dynamics, and Segment Analysis

The agricultural fumigants market size has grown strongly in recent years. It will grow from $2.22 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to rise in pest and disease management, need for food safety, rise in population, economic growth, increasing agricultural production.

The agricultural fumigants market size is expected to see strong growth in the next few years. It will grow to $3.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to global trade and export, rising crop losses, increasing demand for high-quality produce, rising disposable income. Major trends in the forecast period include biological fumigation, data-driven decision making, precision application, sustainable fumigants, collaboration and partnership.

Market Overview -
The agricultural fumigants refer to toxic substances used in agriculture to kill insects, nematodes, bacteria, pests that cause damage to plant growth and crop production, by producing a toxic gas. These fumigants help control insects, help in plant growth, and produce high yields.

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Rising Pest Attacks Boost Demand In The Agricultural Fumigants Market
The high prevalence of pest attacks is expected to propel the growth of the agricultural fumigants market. Crops are regularly infected by various pests such as insects, mites, nematodes, and gastropod molluscs. Pest attacks can cause adverse and damaging impacts on agricultural production and market access, the natural environment, and people's lifestyle. As the pest attack becomes more prevalent, the need to control them becomes much needed, driving the need for agricultural fumigants. For instance, according to the Food and Agricultural Organization of the United Nations (a specialized agency of the USA that leads international efforts to defeat hunger and improve nutrition and food security), approximately 20%-40% of the world's crop production is lost due to pest attacks. Plant diseases cost the world economy $220 billion each year, while invasive insects cost $70 billion. Therefore, the increase in the prevalence of pest attacks is expected to drive the growth of agricultural fumigants during the forecast period.

Competitive Landscape -
Major companies operating in the agricultural fumigants market include ARKEMA SA, Nufarm Limited, Solvay SA, AMVAC Chemical Corporation, UPL Chemical Co., BASF SE, Syngenta AG, Bayer AG, Marrone Bio Innovations, Valent Biosciences, FMC Corporation, Dow AgroSciences LLC, ADAMA Agricultural Solutions, Chemtura Corporation, Degesch America Inc., Douglas Products and Packaging Company LLC, Ensystex II Inc., Janssen PMP, Nisus Corporation, Rentokil Initial plc, Sumitomo Chemical Co. Ltd., Certis USA LLC, Corteva Agriscience, DuPont de Nemours Inc., Gowan Company, Isagro S.p.A., Kenvos Biotech Co. Ltd., Nippon Kayaku Co. Ltd., SGS SA, Shenyang Fengshou Biochemical Co. Ltd.

Growing Partnerships In Agricultural Fumigants Market Leveraging Innovation For Pest Control And Post-Harvest Solution
Increasing partnerships and agreements between the companies is a key trend gaining popularity in the agricultural fumigants market. Major companies operating in the agricultural fumigants market are focusing on partnerships and agreements to develop innovative solutions to reduce pest attacks and enable business growth. For instance, in January 2022, Mustgrow, a Canada-based agriculture biotechnology company, signed an exclusive agreement with Bayer to evaluate MustGrow's biological technology in important agricultural regions to determine its efficacy and economic potential. Bayer AG is a Germany-based multinational pharmaceutical and life sciences contributing to the health of people and plants. Additionally, in January 2021, UPL Ltd., a global provider of sustainable agriculture solutions, formed a strategic alliance with TeleSense to introduce monitoring solutions for post-harvest commodity transport and storage. This alliance will help to progress toward food wastage by detecting and mitigating potential issues such as hotspots, excess moisture, and pests. It will complement the UPL's robust range of gas monitoring, safety, and detection devices and fumigants portfolio. TeleSense is a US-based company offering remote grain storage and transportation monitoring systems.

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Key Segments -

The agricultural fumigants market covered in this report is segmented -

1) By Type: Methyl Bromide, Chloropicrin, Phosphine, Metam Sodium, 1,3-Dichloropropene, Other Agricultural Fumigants
2) By Crop Type: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Other Crop Types
3) By Form: Solid, Liquid, Gaseous
4) By Pest Control Method: Vacuum Chamber Fumigation, Tarpaulin, Structural, Non-Tarp Fumigation By Injection, Other Pest Control Methods
5) By Application: Warehouse & Silos, Soil

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
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