Grain Protectants Market to Reach $1.2 Billion by 2028
The global grain protectants market is expected to reach a value of USD 1.2 billion by 2028, growing at a steady Compound Annual Growth Rate (CAGR) of approximately 5.31% during the forecast period of 2021-2028.
Market Segmentation:
The grain protectants market segmented based on control method, grain type, target pest, and region.
- Control Method: Chemical protectants currently dominate the market due to their effectiveness and variety in controlling pests like rodents, insects, and fungus. However, the biological segment is projected to grow rapidly due to its eco-friendly nature and lower residual levels.
- Grain Type: Corn is the leading grain type using protectants due to its rising demand for food, fuel, and industrial uses. Additionally, corn storage often suffers from high post-harvest losses due to inadequate drying and storage facilities.
- Target Pest: The insect segment holds the largest share due to the increasing need for insecticides to prevent infestations and storage damage caused by insects.
Regional Analysis:
- Asia-Pacific: This region holds the largest market share due to its vast population and growing awareness of crop protection. China and India are key contributors due to their rising demand for fumigants and high-quality crops.
- North America: Projected to witness the highest CAGR due to decreasing arable land and adoption of advanced grain protection techniques. The US is a major player due to its innovative capabilities and presence of leading companies like DowDuPont and FMC Corporation.
Key Players:
Major players in the global grain protectants market include Bayer AG, DowDuPont, BASF SE, Sumitomo Chemical, Arysta LifeScience, Syngenta, FMC Corporation, Nufarm Limited, UPL, DAI, and Hedley Technologies.
Overall, the grain protectants market outlook is expected to experience steady growth driven by factors like increasing demand for safe and high-quality crops, rising awareness of crop protection, and advancements in biological control methods.
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