The global agricultural disinfectant market is highly competitive with the presence of numerous regional as well as multinational companies, says Transparency Market Research (TMR) in a research report. To establish a distinctive role in the market and strengthen their position, players are engaging in strategic collaborations and agreements and are raising research efforts simultaneously. For instance, a branch of the Dow Chemical Company, Dow Agro Sciences signed an agreement with Radiant Genomics for the purpose of carrying out research and development activities to develop natural crop protection products. The top three companies, The Dow Chemical Company, The Chemours Company, and Zoetis accounted for a collective share of over 71% in the global agricultural disinfectant market in 2015.
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According to a TMR analyst, “The opportunity that pegged in 2015 in the global agricultural disinfectant market was US$1.7 bn.” It is expected to rise at a steady 4.4% CAGR from 2016 to 2024 touching a valuation of US$2.5 bn by the end of 2024.
Popularity of Liquid Agricultural Disinfectants to Overrule Market
Based on form, in 2015, the global agricultural disinfectant market was dominated by the segment of liquid of agricultural disinfectant with a share of 48.5% in the same year. The segment is projected to account for a share of 50.7% by 2024, thus maintaining a lead. The extensive consumption of liquid agricultural disinfectant can be attributed to the high demand for it due to cost effectiveness, easy availability, and application on both agricultural land and the drinking water of the current livestock. Liquid agricultural disinfectant was followed by powder agricultural disinfectant owing to its high use for cleaning purposes in livestock farms. Based on application, the market was dominated by the land segment in 2015 and is likely to maintain a lead until 2024.
In terms of geography, the global disinfectant market was dominated by North America in 2015 with a market share of 33.23% in the same year. Europe held the second place after North America in 2015.
Development of Vertical Farming and Greenhouse Vegetable Production to Boost Adoption
Growing development of vertical farming methods along with rising greenhouse vegetable production techniques has triggered growth in the global agricultural disinfectant market. This has further led to a rise in the applications of disinfectants in crops for enhanced production and to ensure food security as well. Moreover, ensuring proper health of livestock is gaining traction across the globe owing to the growing demand for meat products. Thus, it is important to protect the livestock population from diseases through proper employment of disinfectants in drinking water, yards, and surface. Routine cleanliness, daily removal of manure, and use of proper disinfectants provide enhanced results regarding the health of the livestock population. The impact of this driver is thus significantly high as compared to others.
However, there has been a recent downturn in the agricultural disinfectants market due to the harmful after effects of the products in circulation in the market. This is negatively impacting the growth of the market. Disinfectant manufacturing companies are at present refraining from adopting new projects owing to the harmful application results arising due to the lack of awareness and knowledge among farmers regarding their proper use and employment of correct methods. This issue is expected to be addressed by the growing initiatives by governments and companies to spread awareness among farmers and educate them about the proper use of agricultural disinfectants.
This review is based on a Transparency Market Research report titled, “Agricultural Disinfectant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Global Agricultural Disinfectant Market, by Forms
- Others(Gel, Granules)
Global Agricultural Disinfectant Market, by Application
- Water Sanitizing
Global Agricultural Disinfectant Market, by End Use
- Agricultural Farms
- Livestock Farms
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