Global grains fumigants market reached value of US$1.49B in 2022 and is predicted to reach US$1.55B in 2023 and US$2.2B by 2030, recording a CAGR of 5.1% during 2023-2030 period, driven by higher demand for high-quality food grains: report

July 5, 2023 (press release) –

The global grain fumigants market size touched USD 1,486.43 million in 2022 and is predicted to reach USD 1,552.87 million in 2023. The market is anticipated to touch USD 2,200.41 million by 2030, recording a CAGR of 5.11% over 2023-2030.

Fortune Business Insights™ presents this information in its latest report titled “Grain Fumigants Market Size, Share & COVID-19 Impact Analysis, By Product Type (Phosphine, Sulfuryl Fluoride, Methyl Bromide, and Others), By Form (Solid, Liquid, and Gas), By Application (Commercial and Residential), and Regional Forecast, 2023-2030.

The demand for food grains is rising at a robust pace across the world as the global population is growing each year. This has created immense pressure on the agriculture sector to cater to the demand for high-quality food grains. This scenario has prompted farmers to look for various ways to increase their crop yield rate and protect their crops from pest infestation. These factors are expected to augment the grain fumigants market share.

Rising Need to Safeguard Agricultural Produce from Damage to Boost Market Growth

While the demand for food grains is always high throughout the year, the demand for these products was particularly high during the pandemic period. The outbreak accelerated the trend of panic buying, with customers hoarding essential items such as food. This period also witnessed severe fluctuations in the food supply chain, thereby causing a major hike in the prices of grains in the market. This spiked the demand for durable and high-quality pest products such as grain fumigants. Many countries also introduced new protocols related to the sale and usage of fumigants during this period. This aspect further supported the grain fumigant market share.

Robust Demand for High-quality Food Grains to Boost Market Growth

The demand for food is growing at a considerable pace every year, which has prompted farmers to either expand their current area of agricultural cultivation or purchase crop protection chemicals. These chemicals can not only help the increase their annual crop yield rate but also enhance the soil health. This scenario has positively influenced the adoption of pesticides, such as soil fumigants, in the past few years to cater to the high demand for high-quality food grains. These fumigants can help farmers effectively eliminate soil-based pathogens such as nematodes and fungi. These products can protect the soil’s quality, making them ideal for crop cultivation and boosting the grain fumigants market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/grain-fumigation-market-103187

Competitive Landscape

Major Market Participants to Use Acquisition Strategies to Expand Market Presence

The market is highly fragmented as it consists of a wide range of reputed companies that specialize in the production of fumigants and other pesticides. They are focusing on acquiring other businesses that will help them in expanding their market presence by incorporating the products of the acquired companies in their portfolios.

Notable Industry Development:

• April 2023 – Rollins Inc. acquired Fox Pest Control Company, a pest management firm. It provides services to residential customers in 13 states. This acquisition will provide the company with a growth strategy in new locations across the U.S. and its brands with new avenues of growth across several regions.

List of the Companies Profiled in the Report:

• UPL Limited (India)
• Solvay (Belgium)
• Corteva Agriscience (U.S.)
• BASF SE (Germany)
• Detia Degesch GmbH (Germany)
• Douglas Products (U.S.)
• ECOTEC Fumigation (Argentina)
• Noble Crop Science (India)
• Rollins, Inc. (U.S.)
• Royal Group (India)

Further Report Findings

• Asia Pacific is predicted to capture the largest market share during the forecast timeframe. Many countries across the region, such as India and China, are heavily dependent on the agriculture sector to fulfill their demand for food grains. This has fueled the demand for high-quality grain fumigants to protect the quality and nutrition of food grains. Asia Pacific also has a vast population and is noticing a strong rise in its average disposable income every year due to rapid industrialization and urbanization. This factor has boosted the need for high-quality food products, further augmenting the regional market growth.
• The market in Europe has also shown robust potential for the expansion of this industry as grains are one of the major commodities cultivated in the region. France is known to have the largest grain storage capacities in the region. Many countries are investing heavily in the improvement of their grain storage facilities, boosting the market progress.
• The phosphine segment may hold a leading market share in the coming years. Phosphine is considered a vital fumigant as it can control the population of insects and pests on stored agricultural goods. It is also highly suitable for processing infected flours and grains and inhibiting the infestation of tobacco beetles on stored tobacco leaves.

Table of Segmentation

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