With the rising importance of cleanliness and hygienic practices, people tend to adopt different practices and techniques to maintain their work places or homes pest-free. However, many times, spraying mild disinfectants might not work. As a result, coarse methods using concentrated chemicals are required to be used.
The fumigation product market growth rate forecasts a moderately progressing landscape, which encompasses the advancement at a CAGR of 6.2%. Barring all market restraints, the growth rate promises to inflate the fumigation product market size to USD 10.1 billion by 2034 from USD 5.5 billion measured in 2024.
Attributes | Key Insights |
---|---|
Estimated Market Size in 2024 | USD 5.5 billion |
Projected Market Value in 2034 | USD 10.1 billion |
Value-based CAGR from 2024 to 2034 | 6.2% |
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With the help of numerous growth drivers, the fumigation product market size increased at a promising CAGR of 7.9% during the historical period. This helped the market reach USD 3.8 billion by 2023, which was measured at USD 5.2 billion in 2019.
The growing local production during the pandemic period gave traction to the rising demand for fumigation products. This helped major players in the fumigation product market find premium solutions to agriculture-related issues. The growing demand for disinfectants to maintain hygiene standards drove the fumigation product market growth rate.
Historical CAGR from 2019 to 2023 | 7.9% |
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Forecast CAGR from 2024 to 2034 | 6.2% |
The growing technology helped major players in the fumigation product market augment their products through innovation. Also, the demand will be generated to enhance the fragrance of disinfectants, driving the production. Consequently, this will govern the fumigation product market size.
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With regulatory policies and technological infrastructure, North America will be the largest contributor to the fumigation product market growth rate. Emerging markets and the growing agricultural sector in Asia-Pacific will govern the enlargement of the fumigation product market size through 2034.
Major players in the fumigation product market in Europe will benefit due to the strict food safety policies of different governments in the region.
Forecast CAGRs from 2024 to 2034
Countries | Forecasted CAGR |
---|---|
The United States | 6.5% |
China | 6.9% |
The United Kingdom | 7.5% |
Japan | 7.9% |
South Korea | 8.3% |
The United States projects the fumigation product market size to progress at a CAGR of 6.5% through 2034. The consumer inclination in the country is changing, and people have started to rely more on eco-friendly alternatives. Further, the notable awareness regarding environmental deterioration drives consumers to choose sustainable solutions.
So, organic solutions and bio-based fumigation products will likely be preferred. Thus, these factors will help the fumigation product market size reach USD 1.8 billion by 2034.
The projected Chinese fumigation product market size by 2034 will be USD 1.6 billion.
China is one of the fastest-growing agricultural countries in the Asia-Pacific region. Due to this, the demand for pesticides, germicides, and disinfectants is constantly rising in the country.
The growing emphasis on food quality and security will be another market driver in the country. Hence, this will ensure the fumigation product market growth rate to pace at 6.9%.
The fumigation product market size in the United Kingdom will be enlarged at 7.5%, helping the market reach USD 0.41 billion by 2034.
The government regulation for food safety standards will likely be elevated. The policies for maintaining hygiene, food safety, and sanctity to be maintained in the hospitality sector will be stringent. These factors will drive the demand for fumigation products, fueling the market growth.
The Japanese fumigation product market growth rate will lift its valuation to USD 1.1 billion at a CAGR of 7.9%. Similar to the American population, the Japanese population shows a clear spike in environmental concerns and actions taken to reduce hazards.
Sustainable pest control methods are one of these initiatives, which will spur the demand for eco-friendly fumigation products. Alternative solutions, including pheromone traps and botanical extracts, will likely increase, driving the market.
The South Korean fumigation product market size will progress at the highest CAGR of 8.3%.
Non-chemical pest control practices are used extensively in the country. Apart from this, the growing attention to integrated pest management (IPM) practices creates more demand for alternative fumigation products.
Innovation will likely increase due to these rising demands, driving the market. However, the fumigation product market size will be the second-lowest, reaching USD 650 million.
Due to the widened usability of solid forms and odorless application of phosphine fumigation processes, major players in the fumigation product market use these two key segments to expand in the market.
Category | Top Type- Phosphine |
---|---|
Market Share in 2023 | 68% |
CAGR % 2024 to End of Forecast (2034) | 6% |
Market Segment Drivers |
|
Category | Top Form- Solid |
---|---|
Market Share in 2023 | 41% |
CAGR % 2024 to End of Forecast (2034) | 5.8% |
Market Segment Drivers |
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Major players in the fumigation product market use different market expansion modes and strategies to gain a competitive niche in the market. Collaborations, partnerships, product launches, mergers, and acquisitions are key methods used to expand the fumigation product market.
New entrants might gain consumer attention through their innovative products. Further, an aggressive pricing strategy might enhance their market occupancy, delivering them a better competitive space in the market. This collective ecosystem accelerates the fumigation product market growth rate.
Key Market Developments
Attributes | Details |
---|---|
Estimated Market Size in 2024 | USD 5.5 billion |
Projected Market Valuation in 2034 | USD 10.1 billion |
Value-based CAGR 2024 to 2034 | 6.2% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Market Segments Covered | Type, Form, Application, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Companies Profiled | AMVAC Chemical Corporation; Arkema; Detia Degesch GmbH; Ecotec Fumigation; Intech Organics Ltd; LANXESS AG; Solvay S.A.; Draslovka Services Group; S.C. JOHNSON & SON INC.; Ensystex Australasia Pty Ltd. |
The fumigation product market is estimated to progress at a CAGR of 6.2% through 2034.
The fumigation product market will likely reach USD 10.1 billion by 2034.
The fumigation product market will attain a market size of USD 5.5 billion in 2024.
The fumigation product market's phosphine segment held 68% of the market share in 2023.
The fumigation product market's solid form segment secured 41% of the market space in 2023.
Estimated Market Size (2024E) | USD 24,416.6 million |
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Projected Market Value (2034F) | USD 49,665.8 million |
Value-based CAGR (2024 to 2034) | 6.5% |
Market Size (2024) | USD 8.9 billion |
---|---|
Market Size (2034) | USD 39.7 billion |
Projected Value CAGR (2024 to 2034) | 16.1% |
Anticipated Market Value (2022) | USD 2.5 Billion |
---|---|
Projected Forecast Value (2032) | USD 4 Billion |
CAGR (2022 to 2032) | 5% |
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