Yahoo Finance Agricultural Adjuvant Market size to grow by USD 1.22 billion during 2024-2028, Increased use of herbicides to improve the Market Growth, Technavio
NEW YORK, March 15, 2024 /PRNewswire/ -- The Agricultural Adjuvant Market is set to grow by USD 1.22 billion from 2024 to 2028 progressing at a CAGR of 5.66% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by Increased use of herbicides. The global agricultural adjuvants market is driven by the increased use of herbicides, which are essential for effective weed control in various crops. Adjuvants like surfactants improve herbicide distribution and penetration, enhancing their efficacy. However, herbicide drift poses environmental risks, emphasizing the need for precise application. Despite concerns, the demand for herbicides persists, especially with the growing preference for fruits and vegetables driven by health awareness. This trend fuels herbicide use in agriculture, promising market growth.
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Report Coverage | Details |
Page number | 172 |
Base year | 2023 |
Historic period | 2018 - 2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.66% |
Market Growth 2024-2028 | USD 1.22 billion |
Market structure | Fragmented |
YoY growth 2023-2024(%) | 5.15 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 37% |
Key countries | US, China, India, France, and Brazil |
Growing emphasis on sustainable agriculture is an emerging trend shaping the market growth:
The market sees a rising focus on sustainable agriculture, aiming to reduce synthetic chemical usage. Adjuvants play a crucial role by enhancing chemical efficacy, allowing for lower usage while maintaining pest and weed control. Sustainability prioritizes environmental protection, driving demand for adjuvants that minimize chemical drift and runoff. Moreover, sustainable farming emphasizes crop health and yield protection, where adjuvants aid in optimizing pesticide and fungicide applications. Precision agriculture adoption further boosts adjuvant usage. Consequently, the trend towards sustainable agriculture is set to fuel market growth.
Health risks associated with agrochemical exposure pose a significant challenge. Farmers and their families face increased risks of diseases due to pesticide exposure, including cardiovascular diseases and various cancers. Children exposed to pesticides are especially vulnerable to health issues like brain cancer. Additionally, pesticide exposure can lead to multiple chemical sensitivity (MCS), causing symptoms like dizziness and cardiovascular problems. Growing concerns over the health impacts of synthetic agrochemicals usage among farmers are expected to hinder market growth.
Market Segmentation
The agricultural adjuvant market analysis includes Type,Application and geography landscape. This study identifies the Increasing agricultural adjuvant product launches, Growing emphasis on sustainable agriculture, Increased use of biologicals in agricultural adjuvant as one of the prime reasons driving the agricultural adjuvant market growth during the next few years.
The activator adjuvants segment is poised for significant growth. These adjuvants enhance herbicide effectiveness by improving weed control through better absorption and translocation. Valued at USD 2.39 billion in 2018, they're selected based on compatibility with specific herbicides, ensuring stability and efficacy. Activator adjuvants also reduce drift during application, minimizing off-target damage. This segment's growth will drive the overall market during the forecast period.
North America expects to contribute 37% to global market growth. Increased demand for crop protection solutions drives the market, with farmers adopting sustainable practices. Adjuvants play a key role in reducing pesticide use and optimizing chemical applications, especially in diverse agricultural sectors. These factors fuel market growth in the region.
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters
Companies Mentioned
BASF SE
Bayer AG
BRANDT Inc.
Clariant International Ltd.
Corteva Inc.
Croda International Plc
GarrCo Products Inc.
Huntsman International LLC
Interagro UK Ltd.
Lamberti SpA
Land O Lakes Inc.
Marubeni Corp.
Nouryon Chemicals Holding BV
Nufarm Ltd.
Precision Laboratories LLC
RAG Stiftung
Simplot Grower Solutions
Solvay SA
Stepan Co.
Wilbur Ellis Holdings Inc.
BASF SE - The company offers agricultural adjuvants such as Agnique BL 3095 and Dash HC
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Analyst Review:
The Agricultural Adjuvant Market is a crucial segment of the agrochemical industry, providing essential additives to enhance the effectiveness of crop protection products. Adjuvants, including surfactants, emulsifiers, and spreaders, play a vital role in improving the performance and efficacy of agricultural chemicals by optimizing their application and increasing their penetration and coverage on crops.
As farming practices evolve and the demand for higher crop yields increases, the adoption of adjuvant technology becomes imperative for farmers seeking to maximize the efficacy of their crop protection strategies. Adjuvant formulations are continuously being innovated to address specific challenges faced by farmers, such as improving spray coverage, enhancing herbicide uptake, and reducing off-target drift.
The agricultural adjuvant market is characterized by a diverse range of products catering to various applications and crop types. Adjuvant suppliers and manufacturers are investing in research and development to introduce new and improved adjuvant solutions that meet the evolving needs of modern agriculture while complying with stringent regulatory standards.
While the agricultural adjuvant market presents significant opportunities for growth, challenges such as regulatory compliance, safety concerns, and pricing pressures pose constraints. However, with increasing awareness among farmers about the benefits of adjuvants and advancements in adjuvant technology, the market is poised for substantial expansion in the coming years, both globally and regionally.
Market Overview:
The Agricultural Adjuvant Market is witnessing significant growth driven by the increasing demand for crop protection solutions and farming aids. Agrochemicals, including adjuvants like surfactants and wetting agents, play a crucial role in enhancing crop protection efficacy. Adjuvant technology is advancing, leading to the development of innovative spray adjuvants with improved effectiveness. The market is characterized by a wide range of products, including adjuvant formulations and tank mix adjuvants. Surfactants and wetting agents ensure better coverage and penetration, enhancing the overall effectiveness of crop enhancers. As the industry evolves, adjuvant suppliers and manufacturers are focusing on meeting regulatory compliance and ensuring safety. The market outlook is optimistic, with ongoing research driving innovations to address emerging challenges and capitalize on new opportunities.
Related Reports:
The adjuvant market size is estimated to grow by USD 1.88 billion accelerating at a CAGR of 6.71% between 2023 and 2027.
The agricultural surfactants market size is estimated to grow at a CAGR of 5.36% between 2023 and 2027. The market size is forecast to increase by USD 438.99 million.
Key Topics Covered:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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