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Global Grain Fumigants Market 2024 : Trends, Business Growth And Major Driving Factors
Grain Fumigants Global Market Report 2024
According to The Business Research Company's, The grain fumigants market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to pest management practices, globalization of agricultural trade, development of fumigant formulations, expansion of stored grain storage, pest resistance challenges.
The grain fumigants market size is expected to see strong growth in the next few years. It will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increasing global food demand, stricter regulatory compliance, environmental sustainability, global trade expansion, rise in post-harvest losses. Major trends in the forecast period include research and development initiatives, preference for residue-free solutions, focus on food safety and quality, development of resistant pest strains, demand for post-harvest pest control.
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Market Drivers and Trends:
An increase in the demand for grains among consumers is significantly contributing to the growth of the grain fumigants market going forward. Grains refer to the seeds or fruits of various food plants, such as cereal grasses and other plants that are used commercially and legally. Grain fumigants are used to prevent insect infestation and rodent infestation of stored grains for future consumptions. Hence, the increase in the demand for grains will drive the growth of the grain fumigants market. For instance, in a February 2023, according to report released by the Centre for the Promotion of Imports from developing countries (CBI) a Netherlands-based government agency that shares information on key European Union market developments with exporters in developing countries, the value of European imports of grains increased to $23.81 million in 2021. Therefore, the increase in demand for grains will drive the grain fumigants market.
Product innovations are the key trend gaining popularity in the grain fumigants market. Major companies operating in the grain fumigants market are focused on developing innovative products to sustain their position in the market. For instance, in July 2022, Bayer Malawi Ltd., a Malawi-based company that provides a full agricultural production service, launched K-Obiol, a crop protection product during storage. This product safeguards maize from the grain borer (Nankafumbwe) for up to 6 months to farmers with the finest value available on the market. The grain borer (Nankafumbwe) for up to 6 months uses cutting-edge technology that has been tried and proven worldwide. Six bags, each weighing 50 kilograms, can be shielded by a single 200-gram bottle for an entire six-month period.
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Major Key Players of the Market:
UPL Limited; Corteva Agriscience Inc.; Solvay S.A.; Detia Degesch GmbH; Douglas Products Ltd.; ECOTEC Fumigation Services LLC; Noble Crop Science LLC; Rollins Inc.; Royal Group of Companies; BASF SE; Shenyang Fengshou Fumigation Co. Ltd.; Jining Shengcheng Fumigation Co. Ltd.; National Fumigants Inc.; Schelkovo Agrohim LLC; Jaffer Group of Companies; Syngenta AG; AMVAC Chemical Corporation; Trinity Manufacturing Inc.; Arysta LifeScience Limited; Novozymes A/S; Bayer CropScience AG; The Dow Chemical Company; Great Lakes Solutions LLC; Arkema S.A.; Chemtura Corporation; Nippon Chemical Industrial Co. LTD.; DEGESCH America Inc.; MustGrow Biologics Corp.; Imtrade CropScience Inc.; The Draslovka Group a.s.; Fumigation Service & Supply Inc.; IFC Solutions Inc.; Ocrim S.p.A.; Trical Inc.; TriEst Ag Group Inc.; VFC Industrial Fumigation Company; Ikeda Kogyo Co. Ltd.; Industrial Fumigation Company; Isagro SpA
Grain Fumigants Market 2024 Key Insights:
• The grain fumigants market will grow to $2.31 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Rising Consumer Demand For Grains Fuels Growth In The Grain Fumigants Market
• Product Advancements In The Grain Fumigants Market
• Asia-Pacific was the largest region in the grain fumigants market in 2023
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