The new report by Expert Market Research titled, ‘Global Agricultural Adjuvants Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global agricultural adjuvants market, assessing the market based on its segments like functions, applications, crop types, formulations, adoption stages, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8%
With the introduction of modern agricultural processes, like commercial and contract farming, the global agricultural adjuvant market is expected to witness significant growth in the forecasted years. Growing demand for better crop yields due to the depletion of farming lands owing to urbanisation and rising population is expected to drive the agricultural adjuvants market.
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The demand for food grains is increasing due to many emerging economies moving from lower-income countries to middle-income countries, driving the market growth. With various governments taking initiatives and improving farming methods in developing economies, the market growth rate is expected to propel in the near future. Many industry players associated with adjuvants provide eco-friendly products, making them viable. The products comply with environmental norms and assure that the demand for adjuvants will further increase in the future.
Industry Definition and Major Segments
Adjuvants are compounds that are added with herbicides or pesticides to improve their performance in terms of easier handling and mixing, increased efficacy and safety, improved distribution, and reduced drift. Adjuvants can be added to the product during the manufacturing process or to the spray mix right before use.
By function, the market is segmented into:
- Activator Adjuvants
- Surfactants
- Oil-based Adjuvants
- Utility Adjuvants
- Compatibility Agents
- Buffers/ Acidifiers
- Antifoam Agents
- Water Conditioners
- Anti-Drift Agents
- Others
By application, the market is divided into:
- Insecticides
- Herbicides
- Fungicides
- Others
By crop type, the market is classified into:
- Cereals and Grains
- Corn
- Wheat
- Rice
- Others
- Fruits and Vegetables
- Oilseeds and Pulses
- Soybean
- Others
- Others
By formulation, the market is segmented into:
- Suspension Concentrate
- Emulsifiable Concentrate
By adoption stage, the market is divided into:
- In-formulation
- Tank-Mix
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
Protected agriculture methods are expected to boost the market even further. Surfactants, oils, salts, and emulsifiers are essential for good crop production, and as a result, they can boost the market growth. Herbicides, fungicides, and insecticides are also gaining popularity due to their usability and function, which is a major aspect of the agricultural market as demand for crop protection chemicals grows.
Farmers are now more aware of various agrochemicals and advanced farming equipment. Arable lands are shrinking rapidly owing to numerous factors such as soil pollution, industrialisation, urbanisation, growing threats from pests and insects, among others. Farmers are protecting their yield from damage due to pests, pathogens, weeds, and rodents by using pesticides and insecticides. For that purpose, adjuvants are primarily used to help pesticides improve their efficacy along with application on crops.
Key Market Players
The major players in the market are Corteva, Inc., Evonik Industries AG., Croda International Plc, Nufarm Ltd, Solvay SA, and BASF, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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