Growing Focus on Increasing Agricultural Production Driving the Agricultural Fumigants Market

Agricultural Fumigants Market by Product Type (Methyl Bromide, Phosphine, Chloropicrin), Crop Type (Cereals, Oilseeds, Fruits), Application (Soil, Warehouse), Pest Control Method (Tarpaulin, Non-Tarp, Vacuum), and Region - Global Forecast to 2022

(EMAILWIRE.COM, November 25, 2020 ) The global agricultural fumigants market size was valued at USD 1.52 Billion in 2016. It is projected to grow at a CAGR of 4.10% from 2017, to reach USD 1.94 Billion by 2022.

The growth of the agricultural fumigants market can be attributed to the growing focus on increasing agricultural production, increase in focus on the reduction of post-harvest losses, and growing usage of fumigants for the production and storage of cereals. However, there are several region-specific regulations on the usage of agricultural fumigants by various governing bodies, which act as a restraint for the market growth. Additionally, accumulation of residue on grains, fruits, and a proposed ban on methyl bromide are also expected to affect the market growth.

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The phosphine segment, on the basis of various product types, accounted for the largest share in 2016. The phosphine segment is mainly driven by few factors; phosphine-based fumigants are easily available, they are easy to handle, and they are comparatively less harmful in nature than other fumigants, especially methyl bromide.

North America accounted for the largest share in 2016 due to the presence of key crop protection chemical manufacturers, increasing the need for sustainable agriculture and the higher efficiency of fumigants in terms of application, and presence of some of the most protective farming regulations in the region.

The food & beverage market in the Asia-Pacific region is currently undergoing a transformation in response to rapid urbanization and the liberalization of foreign direct investment in the food sector. The Asia Pacific is projected to be the fastest-growing region from 2017 to 2022 due to a gradual increase in awareness and knowledge about using fumigation as a crop protection technique, an increase in the availability of fumigant products, and a growing number of manufacturers in the region.

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Leading companies are BASF (Germany), Syngenta (Switzerland), ADAMA (Israel), Dow Chemicals (US), and FMC (US). Other players include UPL (India), Degesch (US), Nufarm (Australia), American Vanguard (US), Nippon (Japan), Arkema (US), and Rentokil (UK).

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