Soil Fumigant Market-Industry Insights, Trends, and Opportunity Analysis, 2019-2024

Press Release

A new report, GlobalSoil Fumigant Market provides an overview of recent factors enabling growth in the global Soil Fumigant industry. According to the report, recent innovations have created several growth opportunities for prevailing companies as well as newer market entrants. Global Soil Fumigant Market Research Reports provides information regarding market trends, competitive landscape, market analysis, cost structure, capacity, revenue, gross profit, business distribution and forecast 2024.

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Market Overview

The soil fumigant market was valued at USD 540.8 million in 2018, and it is projected to register a CAGR of 5.2% during the forecast period (2019–2024).

- The drivers identified in the market are increasing instances of crop diseases and growing demand for food from the developed and emerging economies.
- The restraints identified in the market are environmental and regulatory concerns and issues during product application.

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Scope of the Report

Soil fumigant applications target soil-borne pests, including nematodes, fungi, bacteria, weed, and insects. Commonly used soil fumigants include methyl bromide, chloropicrin, methyl iodide, 1, 3-dichloropropene, dimethyl disulphide, dazomet, metam sodium, and metam potassium. Liquid agricultural fumigants have larger soil applications and form the largest agricultural fumigant segment, with respect to forms.

Key Market Trends

Growing Demand for Food from the Developed and Emerging Economies

The food and agriculture organization (FAO) of the United Nations has predicted that the agricultural productivity is expected to rise by 70% by 2050, to meet the growing food demand, globally. The global population is increasing exponentially and every day, nearly 200 thousand people are contributing to the global food demand. According to the US Population Division, the world’s human population has increased nearly fourfold in the past 100 years and is projected to reach 9.2 billion by 2050. Supplying food to this growing population has become a global threat. Therefore, the need to control the crop diseases by application of soil fumigants has become a necessary step, globally. Owing to the infestation of pests, mites, rodents, and birds, around 1,300 million metric ton of food is estimated to be wasted every year, leading to increasing application of soil fumigants. The production of cereals is estimated to reach 3,009 million metric ton by 2050. However, the expected demand for agricultural crops is around 6,759 million metric ton by 2050. Thus, the demand for agricultural warehouses and associated products, like fumigants, is expected to increase in the coming years.

The Asia-Pacific Region is the Largest Consumer of Soil Fumigants

The Asia–Pacific region holds the market share of 25%, of soil fumigants, in the soil fumigants market. Most countries using methyl bromide have ratified the agreement on phase-out. However, some are yet to do so, the most significant one being China. In China, there has recently been a significantly increased use of the chemical, both for quarantine purposes and soil disinfestation. In Japan, each prefecture has its own program to develop and disseminate alternatives to methyl bromide, especially for vegetables. These programs, which vary depending on the crop, are based on pre-planting treatments. Due to the efforts of the stakeholders concerned, methyl bromide for soil fumigation is being gradually replaced by alternatives, thereby decreasing the use of methyl bromide in Japan.

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Competitive Landscape

The soil fumigant market is mainly focused on developing new qualitative products and new technologies to improve product quality. The major players are ADAMA Agricultural Solution Ltd, AMVAC, DowDuPont Inc., Isagro, Syngenta AG, UPL Group, and other companies.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst suppor

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