Market Size of Agricultural Fumigants Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.45 Billion |
| Market Size (2029) | USD 3.22 Billion |
| CAGR (2024 - 2029) | 5.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Agricultural Fumigants Market Analysis
The Agricultural Fumigants Market size is estimated at USD 2.45 billion in 2024, and is expected to reach USD 3.22 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).
The COVID-19 pandemic disrupted the operations of the crop protection chemicals market, including fumigants. The pandemic affected supply chain networks, resulting in losses for companies and farmers. In terms of supply, a short-term shortage of migrant laborers amid distribution bottlenecks created a wide gap between the number of workers required for production. Some other restraints included customs clearances, export permits, import permits, and phytosanitary certificates.
The agricultural fumigants market is driven by factors, like rapid technological advancements in the agricultural sector, growing concerns over post-harvest losses, and a shift in the advanced farming practices, which have led to increased yields. The use of fumigants during storage helps in the reduction of storage loss. Thus, the demand for fumigants is expected to increase as the use of fumigants is an effective and economical method to reduce post-harvest losses.
A widely used fumigant for storing agricultural commodities while offering protection against insects and rodents, phosphine-based fumigants have emerged as the largest segment among all types of global fumigants. North America dominates the market. With rapid investments in technology and R&D, many new varieties of products are being developed with less toxicity and more efficiency. The growth of the agricultural fumigants market can be attributed to several factors, such as the increased inclination of consumers for improving the quality of agricultural output, changing farming practices, and advanced storage technology. However, fumigants cause several problems, including possible phytotoxicity, depending on the type of crop and its variety, seasonal conditions, humidity, temperature, fumigant concentration, and duration of treatment. Therefore, it is recommended to be used by professional fumigators only due to its high toxicity as a respiratory poison.
