Agricultural Disinfectant Market - Growing Importance of Crop and Livestock Protection Key Driving Factor in Europe
The global market for agricultural disinfectants has been expanding at a steady pace across most regions, driven primarily by the rising demand for meat products in India and China. The rapid growth of the agricultural disinfectant market is also attributed to the increase in research and development activities in order to improve the quality as well as efficacy of disinfectants.
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There has been a growing emphasis on minimizing operating expenditure, improving performance, ensure crop protection, and adhering to regulatory standards. The development of greenhouse vegetable production and vertical farming are also considered to be key drivers in the global agricultural disinfectants market. The market is expected to grow from a value of US$1.7 bn in 2015 to US$2.5 bn by 2024, at a CAGR of 4.4% therein.
Livestock Farms Surpass Agricultural Farms in terms of Demand
By form, the agricultural disinfectant market has been divided into liquid, powder, and others, such as gels and granules. The liquid agricultural disinfectants segment captured the leading share in 2015 due to their easy availability, low cost, and soluble nature. Liquid agricultural disinfectants are used in agricultural farms to ensure better crop productivity and in the drinking water of the livestock.
Based on application, agricultural disinfectants are used on land, in the water, and in the air. The application of these disinfectants is most common on land, followed by the water sanitizing and aerial segments.
On the basis of end use, agricultural disinfectants are used in agricultural and livestock farms. Livestock farms surpass agricultural farms in terms of demand owing to the rising demand for meat products and the need to ensure the safety of the livestock. Farmers are especially concerned about newborn livestock as they are increasingly vulnerable to diseases.
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By geography, the agricultural disinfectant market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominated the market in 2015, accounting for more than 33.0% of the global agricultural disinfectant market that year. The region has been displaying strong growth owing to the increase in livestock and a rising demand for quality meat products, which in turn, results in the growing demand for agricultural disinfectants in livestock farms.
The agricultural disinfectant market in Europe held the second largest share in 2015 and is expected to grow consistently during the forecast period. France boasts of a large number of agricultural fields and hence captures the dominant share in the region. The growing focus in Germany about the importance of crop and livestock protection is likely to boost the agricultural disinfectant market in the country.
Asia Pacific is expected to witness impressive growth during the forecast period, attributed mainly to the rising opportunities presented by developing countries. Continuous research and development and the increasing demand for meat products in countries such as India and China is expected to boost the market for agricultural disinfectants by 2024.
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The vendor landscape of the market is immensely consolidated owing to the presence of several domestic and international manufacturers. This makes the market rather competitive. The leading players in the agricultural disinfectant market include Zoetis (U.S.), The Chemours Company (U.S.), Nufarm (Melbourne), The Dow Chemical Company (U.S.), The Stepan Company (U.S.), The Thymox Technology (Canada), Neogen Corporation (U.S.), Fink Tec GmbH (Germany), QuatChem Limited (U.K.), and Entaco N.V. (Belgium).
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