Market Analysis
Global Grain Protectants Market size can touch USD 750 million by 2024. It is predicted to display a CAGR of 5% during the forecast period. The ability to protect the entire value chain of grain transfer from cultivation to warehousing is likely to drive the market demand. In addition, the protection it offers against unpredictable climate conditions will also fuel the market. Investments in research and development for the production of better insecticides in adherence to the environmental regulations can bode well for the market.
The market faces a challenge of revenue due to the attack of insects and pests due to the frequent usage of grain protectants.
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Competition Outlook
BASF SE, Nufarm, Sumitomo Chemical, Syngenta, Arysta LifeScience Corporation, Corteva, Hedley Technologies, Central Life Sciences, Bayer, FMC Corporation, UPL, and Degesch America are key players of the Global Grain Protectants Market.
Segmentation
Global Grain Protectants Market has been segmented by type, target pest, and grain type.
The global grain protectants market has also been segregated, on the basis of target pest, into rodents, insects, and others. The insect segment has been further segmented into beetles, grain borers, weevils, and others. Among these, the insect segment is projected to lead the market owing to the high demand for insecticides in the agriculture sector.
Based on grain type, the market is segregated into, rice, wheat, corn, and others. Corn had a large market share in 2017 and will dominate the market till 2023. The large post-harvest losses of corn during storage has driven the need for grain protectants.
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Regional Analysis
North America can lead the market owing to establishment of various grain processing plants and grain warehouses. New standards for storage of grains will provide the global grain protectants market a much-needed impetus. Development of adulticides to kill adult insects will bode well for the market. Concerns of food safety and security will play pivotal role in the market in the years ahead.
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