Agricultural Adjuvants Market Observe Significant Growth Of USD 5.25 Billion By 2030

Posted by Neha Bora on November 17th, 2023

San Francisco, 17 Nov 2023: The Report Agricultural Adjuvants Market Size, Share & Trends Analysis Report By Product, By Application, By Source, By Formulation, By Type by Crop, By Region, And Segment Forecasts, 2023 - 2030

The global agricultural adjuvants market size is expected to reach USD 5.25 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Industry growth is majorly driven by the increasing demand for crop protection chemicals for improving the yield of crops due to shrinking arable land and growing population globally. The global demand for crop protection products is expected to drive market growth. For instance, according to the Economic Survey, the agricultural and other related industries in India were the most resilient to COVID-19, with a growth of around 3.6% in 2020-21 and 3.9% in 2021-22. In addition, in the U.S., the agricultural sector contributed around 5.0% of the country’s total GDP due to the rising demand for food, according to the U.S. Department of Agriculture.

Moreover, due to the population explosion, farmers are required to produce more food grains in a short span of time. Also, the sizes of arable lands have shrunk due to the growing population and rapid urbanization & industrialization, further increasing the pressure on farmers to produce more on less available land. This is a huge concern for agriculture-based economies in the world, such as India, which is highly dependent on agriculture and related activities. Thus, farmers resort to using agricultural adjuvants and fertilizers to increase the yield in a short period. Furthermore, according to the FAO, agriculture will need to produce approx. 50% more food, biofuel, and livestock fodder by 2030 than that produced in 2012 to meet the global demand.

This has resulted in the growing demand for agrochemicals, which, in turn, will drive the demand for the product market. On the other hand, fluctuating prices of raw materials may hamper the industry growth to some extent. The majority of agrochemical raw materials are exported by China; however, due to the outbreak of the COVID-19 pandemic in 2019 in China, the supply of various raw materials including petroleum products and chemicals have been affected, resulting in fluctuations in the prices of these raw materials and ultimately the prices of agricultural adjuvants.

Access Research Report of Agricultural Adjuvants Market @ https://www.grandviewresearch.com/industry-analysis/agricultural-adjuvants-market

Agricultural Adjuvants Market Report Highlights

• The global market growth is attributed to the increasing rate of crop loss due to pests & insects hampering the production yield
• The activator adjuvants segment dominated the market in 2022 since these activators are used in agrochemicals as they are less expensive and easier to obtain than utility adjuvants
• The herbicides application segment led the global market in 2022 as herbicides are used to suppress the growth of undesirable plants, such as weeds, which cause around 25% of crop loss worldwide annually. According to the FAO, over 2 million tons of herbicides were consumed globally in 2019. This is more than double the number of insecticides used in 2019
• The petroleum-based source segment led the market in 2022 due to the ability of these sources to slow down the drying rate of crop protection chemicals to improve their absorption into crops, thus making them more efficient
• The conventional segment dominated the market in 2022 as they are majorly used with pesticides, herbicides, and fertilizers for improving yields of oilseeds & pulses, cereals & grains, and fruits & vegetables
• Asia Pacific was the leading region in 2022 on account of the availability of low-cost labor and an abundance of raw materials

Agricultural Adjuvants Market Report Scope

List of Key Players in the Agricultural Adjuvants Market

• Clariant AG
• Solvay SA
• The Dow Chemical Company
• Huntsman International LLC
• Evonik Industries AG
• Ingevity
• Nufarm Ltd.
• Corteva Agriscience
• Croda International PLC
• BASF SE
• Miller Chemical & Fertilizer, LLC.
• Helena Chemical Company
• Winfield United
• Wilbur-Ellis Holdings, Inc.
• Stepan Company

Access Press Release of Agricultural Adjuvants Market @ https://www.grandviewresearch.com/press-release/global-agricultural-adjuvants-market