Stored Grain Insecticides Market Size

Stored Grain Insecticide Market Analysis

The stored grain insecticide market is projected to register a CAGR of 4.7% during the forecast period (2020-2025). Sustaining market pressure for better prices during the post-harvest stage and increasing focus on the reduction of post-harvest losses are the major factors driving the market growth. Lack of storage facilities in many small scale farms across various countries led to the inability to store surplus grains resulting in increased post harvest losses. Additionally, the respective governments are increasingly focusing toward keeping pace with its looming food storage crises and has increased the contribution toward the construction of high-tech grain storage silos. This is likely to augment the demand for insect grain protectants. The prevailing pandemic across the globe has resulted in increased stocking and storage of grains due to the disruption of supply chain. In order to protect the stored grains from pest infestation, farmers tend to demand the stored grains insecticide at an increasing level. Hence apart from logistics sector, the impact of COVID-19 if extended to the third quarter of 2021,the market is further observed to grow across the globe.