Fumigation Products Market Volume Sales Set to Surpass 1 Million Tons by 2027 Amidst Adoption of Digital Technologies by Key Players
ALBANY, New York, Feb. 3, 2020 /PRNewswire/ -- Global fumigation products market – valued at USD 820 million in 2018 – is set to witness annual growth rates of nearly 4% through 2027, according to a new study carried out by Transparency Market Research (TMR). In terms of volume, global sales are likely to surpass 1.17 million tons, with renewed focus on agricultural resource protection sustaining demand. To address the complex challenges, especially loss prevention during international trade, leading players plan to leverage digital technologies. According to Transparency Market Research, the existing challenges pertaining to toxicity and harmful environmental impact of fumigants continue to create challenges for widespread adoption.
"The fumigants product market will maintain steady growth, however, there is an urgent need for manufacturers to address the growing concerns pertaining to environmental impact. In markets where regulations are lax, manufacturers will need to take a proactive approach to use less-hazardous products in their offerings. This shift is necessary as a number of end-users are now evaluating the labels much more diligent as compared to the past," says Transparency Market Research.
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Key Findings of the Fumigation Products Market Study
- Preference for solid fumigants will remain unabated – solid fumigants are easier to handle, and relatively less hazardous than gaseous fumigants
- Aluminium phosphide is the highest selling fumigant – its effectiveness against a range of agricultural products such as flour, tea, and grains continues to fuel demand
- The growing organic sales represent a lucrative avenue for fumigation product manufacturers, as end-users expect organic ingredients to be used across the value chain
- Leading players are planning to invest in digital technologies to boost entire fumigation process
- Increase in the number of warehouses is likely to provide an impetus to fumigant product sales during the forecast period
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