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, growing at a CAGR of 4.86% from 2018. The grain protectants market is driven by the need to reduce grain losses during storage and the growing market pressure on farmers to gain better grain prices during the post-harvest stage. However, the increasing insect pest resistance to certain active substances and stringent regulations on maximum residue levels (MRLs) emphasize the need to develop new active substances that are more effective and less hazardous to the environment and human health. Investment in R&D for the introduction of new products would be an area of focus in coming years, due to the increasingly positive effects of some biologically sourced products such as INSECTO and Protect-It. These products contain diatomaceous earth (silicon dioxide) and are recognized as an essential component of Integrated Pest Management (IPM) for stored products.
Certain pest species have developed resistance to chemicals such as organophosphates, pyrethroids, carbamates, and certain other agents such as methoprene and even the biological agent Bacillus thuringiensis. There have been perilous situations in certain regions wherein the insect populations have developed multiple resistance abilities toward protectant chemicals, leaving no options for the use of any effective protectants.
The increasing cost of development and registration of active ingredients would have impact on the market growth,. Currently, a gradual shift is being witnessed from chemical-based pest management to IPM systems, owing to the biological, economic, and sociological influences.
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In terms of control methods, the chemical segment is projected to grow at the highest rate from 2018 to 2023, owing to the higher prices and effectivity of chemicals. However, the safety of stored grains cannot depend on a single method due to several factors surrounding post-harvest storage. These factors include pest infestations, pest resistance to the grain protectant chemicals, climatic conditions, and storage conditions. Thus, advanced systems such as integrated pest management (IPM) would be effective in maintaining the quality of stored grains for a longer period.
North America is projected to be the fastest-growing region in the grain protectants market from 2018 to 2023. The region has a major presence of grain protectant manufacturers and has a high demand for corn-based products. Multinational companies are also focusing on marketing their products and services of grain protectants in these regions, through expansions and new product launches, to gain a larger share of the market. Entostat, a proprietary wax micro powder product manufactured by Exosect, has shown unique electrostatic properties.
These natural physical properties have the ability to enhance the target delivery platform for synthetic and biological active ingredients. IPM involves managing the pest population through physical and biological control method techniques; and most of the times, the intervention through chemical insecticides is also required. Various other approaches in the IPM can be utilized for efficient management of insect pests in stored grains. Therefore, strong adoption of IPM practices globally could prove to be a good opportunity for the growth of the grain protectants market.
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).