Agriculture Fumigants Market Is Expected to Grasp the Value of USD 2472.9 Million with Growing CAGR of 15.5%by 2028

 

According to the latest report from Reports and Data, the global agriculture fumigants market is projected to reach USD 2472.9 Million by 2028, with a compound annual growth rate (CAGR) of 4.1%. The key drivers of revenue growth in the global market include the increasing prevalence of pest and insect attacks, limited availability of arable lands, and growing concerns regarding post-harvest storage.

Fumigation, a widely used pest control method, involves the application of poisonous gases by government-certified applicators to restrict the growth of unwanted pests and enhance crop production. Agricultural fumigants are utilized in both pre-harvest and post-harvest methods. They are added to protect crops from various soil insects, nematodes, weeds, and rodents, either by injecting them into the soil or applying them to stored grains. The global market revenue growth is driven by factors such as increasing awareness among farmers about the importance of using agricultural fumigants, rising issues with crop damage during transportation and storage, and the growing utilization of agricultural fumigants to reduce post-harvest losses. Additionally, investments in research and development and the focus on developing alternatives to methyl bromide, which pests are becoming more tolerant to, are expected to further drive market growth.

However, certain factors may hinder overall market growth during the forecast period. These include residual accumulation during fumigation, stringent regulations surrounding the use of fumigants, the increasing adoption of bio-fumigants, and the high cost of labor and equipment.

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Here are some key highlights from the report:

  • The chloropicrin segment is expected to experience rapid revenue growth over the forecast period. Chloropicrin is a soil fumigant widely used in greenhouses and agricultural settings to treat soil against insects, weeds, fungi, nematodes, and fumigate stored grains.
  • The fruits & vegetable segment is projected to account for the largest market share between 2021 and 2028. This is attributed to the rapidly increasing global population and the rising demand for high-quality and fresh fruits & vegetables.
  • Among the different forms of fumigants, the solid form is anticipated to exhibit a rapid revenue CAGR over the forecast period. Solid fumigants offer favorable features such as easy handling, safe application, high effectiveness compared to gaseous and liquid fumigants, and longer shelf-life.
  • The warehouse segment's revenue is expected to witness the fastest growth over the forecast period. This is due to rapid advancements in storage technology, the increased likelihood of pest infestation in warehouses, and the extensive use of agricultural fumigants on stored grains.
  • North America is projected to account for a significant revenue share in the agriculture fumigants market over the forecast period. This is attributed to the presence of key players, increasing awareness about crop protection, and the rising pest, insect, and rodent-related problems. The United States and Canada are the major contributing countries in North America.

Agriculture Fumigants Market: Drivef factors

The agriculture fumigants market is driven by several key factors:

1.      Increasing prevalence of pest and insect attacks: The rise in pest and insect attacks on crops has necessitated the use of fumigants to control and prevent damage. Agricultural fumigants are effective in eradicating pests and insects, thus ensuring crop protection and improved yields.

2.      Limited availability of arable lands: With the shrinking availability of arable lands, farmers are intensifying agricultural practices on limited land areas. This heightened cultivation density increases the vulnerability of crops to pests, making the use of fumigants crucial for pest control and maintaining crop productivity.

3.      Growing concerns about post-harvest storage: Post-harvest losses due to pest infestation during storage have significant economic implications. Farmers and storage operators are increasingly adopting fumigation methods to protect stored crops and minimize losses caused by insects, nematodes, and rodents.

4.      Awareness among farmers about the importance of agricultural fumigants: Farmers are becoming more cognizant of the benefits of using agricultural fumigants to safeguard their crops. Improved awareness regarding the role of fumigants in pest control, disease prevention, and preserving crop quality has led to their increased adoption.

5.      Rising issues with crop damage during transportation and storage: The transportation and storage of agricultural products are vulnerable stages where crop damage can occur. Fumigation helps control pests that may infest crops during these stages, ensuring the preservation of quality and reducing losses.

6.      Need for alternatives to methyl bromide: Methyl bromide, a widely used fumigant, is being phased out due to its adverse environmental impacts and the emergence of pest resistance. This has led to a demand for alternative fumigants that are effective, environmentally friendly, and comply with regulatory requirements.

It's important to note that while these factors drive the agriculture fumigants market, there are also challenges such as residual accumulation during fumigation, stringent regulations, increasing adoption of bio-fumigants, and high labor and equipment costs that can hamper market growth to some extent.

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