Developing Countries are Expected to Witness Strong Demand for Fumigants in Coming Years

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 global agricultural fumigants market is expanding with considerable growth potential over the next five years. The growth of this market can be attributed to the inclination of consumers toward improving the quality of agricultural output, changing farming practice, and upgraded storage technology.

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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.

According to the FAO, countries in the Asia Pacific region such as India, China, and Japan have displayed above-average growth in agricultural output, and this trend is expected to continue through 2025. According to the FAO, more than 2.2 billion people in the region are engaged in agriculture, leading to an increased demand for agricultural fumigants for better cultivation and crop growth, as well as to prevent losses after harvest.

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In addition, the use of fumigants in India and other developing countries is becoming more common, thereby creating opportunities even in areas where there had previously been little or no adoption of fumigants. However, other developing countries such as Brazil and Argentina have emerged as new agricultural powerhouses; especially Brazil, which is currently one of the world’s most potent agricultural markets and is expected to grow at a rate well above the regional average.

The key players in this market include 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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