The
global agricultural disinfectant market is consolidated with the top
two players namely the Dow Chemical company and The Chembours company
collectively accounted for a massive 55% of the total market in 2015,
states a new report by Transparency Market Research (TMR). Players
within this market are actively engaged in collaborating their
research efforts so as to strengthen their foothold in the
agricultural disinfectants market. A case in point would be the Dow
Chemical company. In 2015, Dow Agro Sciences collaborated with
Radiant genomics for carrying out research and development activities
with major focus on developing products that are natural and can be
used for the protection of crops without any side effects.
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According
to the report by TMR, the global agricultural disinfectant market
will be worth US$2.5 mn by 2024 expanding at a CAGR of 4.4% from 2016
to 2024. On the basis of application, the land segment was leading in
2015. Also, this segment is anticipated to continue to show a high
potential of growth throughout the forecast period. On the basis of
form, the agricultural disinfectant market will be led by the liquid
segment which accounted for a massive 48.5% in 2015. This segment is
further expected to expand at a 4.9% CAGR between 2016 and 2024 on
account of the low cost, growing demand, and easy availability of
liquid agricultural disinfectants.
Livestock
Farm Segment to Generate Maximum Revenue in Agricultural Disinfectant
Market
On
the basis of geography, Asia Pacific is estimated to expand at the
fastest pace exhibiting a CAGR of 5.6% between 2016 and 2024. North
America held the dominant position in 2015 accounting for 33.23% of
the total market. On the basis of end use, it is expected that
livestock farms will lead in the market by revenue. Closely following
the footsteps of livestock farms will be the agricultural farms
segment.
Need
To Prevent Outbreak of Diseases among Meat Producing Animals to Fuel
Adoption of Agricultural Disinfectants
According
to the lead author of this report, the growing demand for meat and
meat products across the world is one of the key factors behind the
growing demand for agricultural disinfectants. Maintaining the health
of meat producing animals such as cattle and poultry has gained
immense popularity, and this has led to the growth of the cleaning
and disinfecting livestock farm products in order to prevent outbreak
of diseases among animals. Thus, there has been an increase in the
focus on routine and regular cleanliness among farmers, which is
fuelling the use of effective agricultural disinfectants.
Improper
Use of Agricultural Disinfectants Result In High Wastage Rate and
Discourage Future Adoption
One
of the key factors restraining the growth of the agricultural
disinfectant market is the low awareness among farmers across
under developed nations. In addition to this, lack of sufficient
knowledge regarding the proper use of disinfectants has also resulted
in lower adoption rates. Improper use of disinfectants has resulted
in high wastage rate which has also discouraged farmers from using
agricultural disinfectants. The possible harmful effects of using
disinfectants are also one of the reasons why farmers refrain from
using agricultural disinfectants. On a bright note however, the
market for agricultural disinfectants is receiving an impetus from
Asia Pacific which holds vast untapped potential especially in
countries such as India and China, wherein players have been focusing
of late. The rise in disposable income and growing demand for meat
products in Asia Pacific is anticipated to create growth
opportunities for agricultural disinfectant market.
This
review is based on the findings of a TMR report titled “Agricultural
Disinfectant Market (Form - Liquid, Powder, Gels, and Granules;
Application - Land, Water Sanitizing, and Aerial; End Use -
Agricultural Farms and Livestock Farms) - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Global
Agricultural Disinfectant Market, by Forms
- Liquid
- Powder
- Others(Gel, Granules)
Global
Agricultural Disinfectant Market, by Application
- Land
- Water Sanitizing
- Aerial
Global
Agricultural Disinfectant Market, by End Use
- Agricultural Farms
- Livestock Farms
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