The global kasugamycin market is anticipated to grow at a considerable CAGR of 2.3% during the forecast period (2022-2028). Kasugamycin is a liquid aminoglycoside antibiotic chemical extracted from streptomyces and used in agricultural stocks to protect the crops or produced stock from the growth of infection or disease causing bacteria and fungus including rice blast disease. The major factor attributing to the growth of the global kasugamycin market is the increasing production and export of fruits and vegetables across the globe. According to the data published by the World Integrated Trade Solution (WITS), the global trade of fruit and vegetable was valued $61.0 trillion in 2019. The export and import of fruits and vegetables are expected to further increase during the forecast year, thus, will increase the demand for kasugamycin to protect the stocks and crops.
Kasugamycin is majorly used on rice crops as it is a common type of crop grown globally on a larger scale. The US Department of Agriculture (USDA) projected that around 514.07 million metric tons of rice gets produced globally during April 2021 and 2022. The projected quantity is 3.76 million tons more than the quantity projected in February 2022. Furthermore, the rising corn production across the globe is also increasing the demand for kasugamycin for its application in corn stocks and crops. According to Atlas Big, around 10.6 billion tonnes of corn being produced globally every year. The US is considered the major producer of corn with around 384 million tonnes of corn produced every year. Thus, propelling the growth of the global kasugamycin market.
Some of the major players in the market include Shanghai Hegno Pharmaceutical Holding Co. Ltd., Hubei Yuancheng Saichuang Technology Co. Ltd., King Quenson, Zhejiang Rayfull Chemicals Co. Ltd., and Fenchem, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2020, the US Environmental Protection Agency (EPA) approved the use of “Kasumin”, a kasugamycin product in almond production to control the bacterial blast. Similarly, in 2019, the US EPA allowed farmers to spray various antibiotics including kasugamycin on their orchards to protect them from the disease called citrus greening.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Shanghai Hegno Pharmaceutical Holding Co. Ltd., Hubei Yuancheng Saichuang Technology Co. Ltd., King Quenson, Zhejiang Rayfull Chemicals Co. Ltd., and Fenchem, among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
A full report of kasugamycin market is available at:
Global Kasugamycin Market Report by Segment
By Application
Vegetables
Fruits
Rice & Corns
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