The global agricultural
disinfectant market is foreseen in a report by Transparency Market Research
(TMR) to find two or more companies such as The Chemours Company and The Dow
Chemical Company showing their dominance in the coming years. With a
view to achieve their goals, players could take to combined researches by
shaking hands with other companies in the market. The nature of the vendor
landscape could be vastly consolidated and highly competitive. Some of the top
companies operating in the market other than the aforementioned ones are The
Stepan Company and Zoetis.
TMR envisages
the global agricultural disinfectant market to rise at a 4.4% CAGR during the
forecast period 2016-2024 to be worth a US$2.5 bn by the end of 2024. Among
other forms, liquid agricultural disinfectant could rank higher in the market
while expanding at a CAGR of 4.9%. Regionally, Asia Pacific could show faster
growth in the market while expanding at a 5.6% CAGR.
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Rising use of
powerful disinfectants and increasing focus on routine cleanliness of farms are
predicted to set the tone for valuable growth of the global agricultural
disinfectant market. The demand in the market could be boosted with the need to
ensure complete food security through sterilization or removal of harmful
microorganisms. The growth of the market is projected to gain support from
technological advancement in greenhouse production of fruits and vegetables and
vertical farming. The demand for agricultural disinfectant could see a rise as
a result of the rise of livestock application.
High increase
in meat consumption and rising prevalence of livestock diseases are foretold to
push the demand in the global agricultural disinfectant market. The need to adhere to government regulations, improve
performance of agricultural disinfectants, and minimize operational costs could
further increase the demand until the end of the forecast period.
Lack of
knowledge about the proper application of agricultural disinfectant is
envisioned to cause problems to the market in terms of growth. Wrong knowledge
about the ill-effects of agricultural disinfectants on plants could also
negatively impact market growth in the foreseeable future. Farmers in
underdeveloped countries may not be financially able to afford agricultural
disinfectants. This could be another growth restraint of the market. However,
developing regions such as Asia Pacific are showing quicker progress in the
market.
Rising need
for crop protection with increase in population is expected to create a whole
lot of opportunities in the global agricultural disinfectant market. Growing
emphasis on the improvement of the effectiveness and quality of agricultural
disinfectants through research and development could be a primary factor
responsible for the growth of the market.
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