Northrook, IL -- (SBWIRE) -- 03/26/2020 -- The report "Grain Protectants Market by Control Method (Chemical (Insecticides, Fumigants, Rodenticides), Physical (Traps, Baits, Aeration, Heat Treatment), Biological), Target Pest (Insects, Rodents), Grain Type, and Region - Global Forecast to 2023", The grain protectants market is estimated to be USD 572.7 million in 2018 and is projected to reach USD 726.1 million by 2023, at a CAGR of 4.86% from 2018. The market growth is driven by the increasing market pressure to sustain grain quality to gain optimum market value. Also, grain storekeepers are focusing on the reduction of grain losses through effective stored grain management.

Chemical control is estimated to be the most widely used control method during the forecast period.

Chemical control implies the use of formulations such as insecticides, grain fumigants, and rodenticides. Globally, it is the most widely adopted method of stored grain pest control due to its immediate results, availability, longer duration, and greater coverage area. Thus, this segment is estimated to account for the highest share among control methods in 2018.

Among chemicals, grain fumigants are commonly preferred by farmers, cooperatives, and traders; this is because it leaves minimal residues as compared to insecticides and rodenticides. Grain fumigation with phosphine is the most commonly preferred fumigant for the treatment of warehouses and grain storages. Sulfuryl fluoride is also used when grains are stored in silos.

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Among target pest, the insects segment is projected to be the fastest-growing during the forecast period.

Insect pests such as beetle, weevils, moths, and grain borers have adverse and damaging impacts on various agricultural commodities. They cause major losses in stored grains, as they infest grains through direct consumption of kernels or through the accumulation of webbing and insect cadavers. The deposition of insect waste on grains results in low-quality grains, which are unfit for human consumption. Therefore, the usage of grain protectants for insect control is projected to grow as the fastest-growing segment during the forecast period.

North America accounted for the largest share in the grain protectants market in 2017, followed by Asia Pacific and Europe. The rising population and decreasing arable land have led to an increase in the demand for food security and food safety, globally. Additionally, the growing concerns of food grain damage and deterioration due to pest manifestations have led to the increased use of grain fumigation chemicals for food grains. Developing regions such as Asia Pacific and Africa lack the infrastructure needed for technological advancements and the awareness of efficient stored grain pest control methods.

Although a steady growth is projected for the next 5 years for the global market, increasing pest resistance is a restraining factor affecting the growth of the grain protectants market. Due to stringent regulations pertaining to the use of chemicals in terms of health, environment, safety, and economic considerations, a very limited number of chemicals are available in the market for application on stored grains.

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The global market for grain protectants is dominated by key players such as Bayer (Germany), Sumitomo Chemical (Japan), BASF (Germany), Nufarm (Australia), UPL (India), and DowDuPont (US). These players adopted growth strategies such as expansions and new product launches to gain a larger share of the grain protectants market. Some other key players in the market are Syngenta (Switzerland), FMC Corporation (US), Degesch America (US), Arysta LifeScience Corporation (US), Central Life Sciences (US), and Hedley Technologies (Canada).

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