Global Agricultural Adjuvants Market Prospects and Forecast 2024-2032

Market Size:

The global agricultural adjuvants market size was valued at USD 2.92 billion in 2018 and is projected to reach USD 6.59 billion by the end of 2032, exhibiting a CAGR of 5.61% during the forecast period based on our analysis in the existing report.

This information is presented by Fortune Business Insights, in its report titled, “Agricultural Adjuvants Market Size Report, 2019-2032.”

The primary driver propelling the global market is the rise in demand for crop protection chemicals. In the past ten years, there has been a greater emphasis placed on raising awareness of the potential environmental effects of improper pesticide use. This factor is improving the market's revenue by fuelling demand for agricultural adjuvants.

Segmentation:

Insecticides to Emerge as Most Attractive Product Type due to Growing Demand in the Asia Pacific

Several adjuvant products available in the marketplace are mainly intended to offer a resolution of spray-mix incompatibilities resulting from the combination of one or more agrochemicals. Activator adjuvants especially surfactants are the major category of adjuvants that account for the largest market share.

Adjuvants application is projected to continue to dominate with herbicides application

Among applications, the herbicides segment accounts for the largest share as they are a major group of crop protection chemicals used in agriculture. Post-emergence herbicide effectiveness is significantly influenced by plant factors such as age, size, and growing conditions.

Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-adjuvants-market-100769

Report Coverage:

The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of software. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the agricultural adjuvants market.

Agriculture Adjuvants Market Dynamics

Driver: Increase in the use of natural & sustainable adjuvants

Growing awareness of the environmental and health risks posed by chemically derived adjuvants has prompted government authorities and manufacturers to prioritize renewable and sustainable products. Companies are now striving to meet the demand for natural adjuvants. For example, in March 2020, Stepan Company acquired the NatSurFact business from Logos Technologies LLC. NatSurFact offers a range of rhamnolipid-based bio-surfactants made from renewable sources.

Restraint: Stringent regulatory guidelines for manufacturers

Agricultural adjuvants are regulated by the Environmental Protection Agency (EPA) under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA). FIFRA mandates that all adjuvants must be registered with the EPA before being sold or used in the US, ensuring their safety for human health and the environment. The EPA has established tolerances for all agricultural adjuvants used with pesticides registered for food use. In the European Union, REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) oversees the authorization of organic adjuvant products.

Opportunity: Precision farming techniques to boost the application of adjuvants

Precision farming techniques, such as aerial spraying, smart irrigation, and variable rate application, are gaining popularity worldwide. Agriculture adjuvants optimize the performance of these techniques by ensuring better coverage, absorption, and penetration of agrochemicals, thereby creating opportunities for adjuvant manufacturers.

Challenge:  Increase in the cost of Agricultural plantation

Adjuvants add to the cost of agricultural production. Although they shorten pesticide application cycles, their expense significantly affects overall production costs. The higher cost of adjuvants reduces farmers’ profit margins, thereby hindering market growth.

Regional Insights:

North America to Lead During the Forecast Period

Currently, North America and Europe are the two biggest markets for agricultural adjuvants, and they are anticipated to continue to have a sizable share of the global market during the forecast period. In North America and Europe, the market is being driven by strict regulations on the use of crop protection chemicals to save the environment from harmful impacts.

Due to the expanding market for crop protection chemicals, South America and the Asia-Pacific region are expected to have rapid market expansion. Another factor boosting the global market in these two regions is the rising knowledge among crop growers of the advantages of adjuvants with the spray chemicals.

Competitive Landscape:

Innovative Product Launch Announcement by Key Players to Bolster Market Growth

The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.

Key Industry Development:

May 2021, Agoro Carbon Alliance is a new global company that Yara International said would help farmers embrace sustainable agricultural methods and make money. Farmers who participate in this initiative contribute to yield growth by implementing sustainable carbon farming techniques.

List of Key Players Mentioned in the Report: