Grain Protectants Market Outlook
Market Research Future (MRFR) reveals that the grain protectants market should touch USD 750 Million by 2030. It is also believed that the global market will soar at a moderate rate of approximately 8.6 % from 2020 to 2030. The notable market growth can be attributed to the need for storing grains to overcome the impact of fluctuating market prices of grains. Farmers, traders, and stockists store their grains in warehouses until desirable market prices are received and demand for grains exceeds the supply. Another challenge faced during the storage of grains is the post-harvest loss caused during the storage due to pest infestation.
Growth Drivers and Challenges
Grain harvesting requires a few measures, including protection against a host of external factors including pests, fungus, diseases, fertility, weeds, and many unavoidable weather conditions. To solidify grains’ protection level against these challenges, growers adopt grain protectants. Insect pests like weevils, beetle, grain borers, and moths have damaging and adverse effects on the crops and numerous agricultural commodities.
Grain protectants market insights help curb the escalation of several plant diseases, weeds, and pests. Mounting pressure on the farmers to garner higher grain prices and the soaring awareness among them regarding grain protectants, especially in developing regions such as the Asia Pacific can translate into substantial revenue generation in the following years.
The Grain Protectants industry trends industry analysis will further gain impetus by the surge in technical advances resulting in the launch of highly innovative products. The global market is extremely competitive, wherein most small- and large-sized firms are indulging in merger and acquisition activities in various parts of the world to gain a better ranking. The launch of new and more advanced grain protectants by leading brands is also expected to benefit the global industry to a large extent. For instance, in April 2021, Corteva Agriscience introduced a fungicide called Inatreq in the Ireland market, which will be available under the brands –Peacoq, Aquino, and Questar. The new fungicide will help curb crop diseases like yellow rust and septoria while fostering yields.
Degesch America, Arysta LifeScience Corporation, Syngenta, Corteva, Sumitomo Chemical, FMC Corporation, UPL, Bayer, Hedley Technologies, Central Life Sciences, Nufarm, BASF SE, are some of the top manufacturers of grain protectants.
Given the intense competition within the global industry, manufacturers frequently adopt marketing strategies to widen their consumer base. Advertising campaigns, new launches, and product innovation are some of the top strategies employed by the major brands to elevate their market rankings.
For instance, in April 2021, BASF introduced its latest rodenticide Selontra, which is effective in curbing infestations by rodents with high resistance to anticoagulants. The new product is touted to reduce rodents’ resistance, an issue that has been prevalent in various parts of the UK for several years.
To offer extensive details of the grain protectants’ market Share, the MRFR report has profiled a few major segments, including Type, Target Pest as well as Grain Type. The different types of dried distillers’ grains available in the worldwide market include biological, physical, and chemical. The chemical types of grain protectants in the market are rodenticides, insecticides, and others. The highest demand is generated for chemical grain protectants and therefore, the segment is touted to capture the highest share. The robust demand is the result of the high effectiveness of these types as compared to biological and physical types. Moreover, most of the manufacturers offer extensive ranges of chemical-based compounds like rodenticides, grain fumigants, and insecticides that are used in storage spaces to restrain pests such as rodents, fungal species, and insects.
The Key Grain Protectants Market Outlook, concerning the target pest, caters to insects, rodents, and others. The insects that primarily attack the grains include weevils, grain borers, beetles, and others. The insects-based segment has procured the top position in the market given the soaring number of infestations as well as damages that take place in storage spaces caused by insects. The grain types considered in the report are corn, wheat, rice, and others.
Regional Insight Analysis
The grain protectants market can be regionally segregated concerning Europe, Asia Pacific/APAC, North America, and RoW/the rest of the world.
North America is set to procure the leading position in the global market between 2020 and 2027, given the high number of grain warehouses as well as grain processing plants located in the region. The soaring need to protect the stored grains across warehouses should foster the demand for grain protectants in North America. Exploding population along with the reduction in arable lands has raised concerns surrounding food security as well as safety in the region. Furthermore, escalating cases of grain deterioration on account of pest manifestations have boosted the sales of fumigation chemicals in the region and will mean higher revenue generation over the following years.
However, the fastest progress is anticipated to be made by the APAC market in the coming years, given the region’s large-scale production of a variety of grains and the rising cases of grain loss in storage spaces. India is emerging as a profitable market in the region, as the country notes high manifestations by insects such as the khapra beetle, rice weevil, lesser grain/hooded grain/paddy borer as well as the grain moth. This has naturally raised the need for advanced insecticides within the country.
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