The global grain fumigants market size was valued at USD 1.50 billion in 2021. The market is projected to grow from USD 1.57 billion in 2022 to USD 2.22 billion by 2029, exhibiting a CAGR of 5.11% during the forecast period.
This information is published by Fortune Business Insights, in its report titled, “Grain Fumigants Market, 2022-2029.”
Need to Safeguard Stored Food Grains Sustained Fumigant Demand During Pandemic
The demand for food grain products among customers elevated during the pandemic, and the supply chain interruption triggered by the pandemic influenced the cost of grains in the market. This produced a considerable requirement to store and safeguard the food grains to guarantee constant supply to consumers amid the pandemic. Therefore, the demand for pest control products comprising grain fumigants surged considerably during the period.
Phosphine Holds Prime Market Share Owing its Great Obtainability and Utilization
On the basis of product type, the market is divided into phosphine, sulfuryl fluoride, methyl bromide, and others. Phosphine is a normal fumigant that is utilized to regulate stored product insects.
Solid Segment to Register Sturdy Sales owing to Expansive Obtainability
The market on the basis of form is divided into solid, liquid, and gas.
A few active ingredients in fumigants are liquid in their packaged form but turn into gas when released while others continue to remain gaseous.
Commercial Segment to Note Higher Sales owing to Augmented Demand from Ports and Additional Commercial Establishments
On the basis of application, the market is divided into commercial and residential. Residential segment encompasses fumigation at domestic levels by residential users or small scale farmers themselves before they take their yield to the market.
Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East Africa.
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy.
Drivers and Restraints:
Rising Demand for Well-resourced Grain Storage Units to Fuel Grain Fumigants Market Growth
Specific nations across the globe grow greater quantities of grains and surpass the present demand. Equally, some nations have a huge demand, but grain generation is deteriorated. This discrepancy between the production and ingestion of food grains dictates economies to involve in trade activities to satisfy the food demand of the population.
Asia Pacific to Dominate Backed by Demand for Soil Fumigants
Asia Pacific holds the largest grain fumigants market share. The requirement for soil fumigants is surging promptly in agriculture-specific nations such as China, India, and other Southeast Asian countries.
Grain is among the prime commodities grown in the European region. France has one of the biggest grain storage capabilities, trailed by Germany and Spain.
The U.S. is the biggest market for grain fumigants in North America followed by Canada and Mexico. In the U.S., the development of the market is principally navigated by surge in demand for fumigation products from agriculture-based states.
Inventive Product Launch Declarations by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Key Industry Development:
January 2022: Detia Degesch Group unveiled a novel fumigant Ultraphos in the U.S. market. It is a great purity phosphine fumigant in a gaseous form packed in refillable steel cylinders. Such innovative product presentations not only aid the company diversify its product portfolio but also assist in producing higher revenue yields.
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