Global Agricultural Adjuvants Market Present Scenario And The Growth Prospects 2030

A number of factors such as mounting investments being made in the agricultural sector, surging food consumption on account of the booming population, and burgeoning demand for agrochemicals will help the agricultural adjuvants market exhibit a CAGR of 5.5% between 2020 and 2030. According to P&S Intelligence, the industry was valued at $3,106.7 million in 2019, and it will generate $5,485.1 million revenue by 2030. In contemporary years, the rapid shift toward environment-friendly agricultural adjuvants has become a prominent market trend.

The soaring food demand, on account of the growing population, will drive the global requirement for agricultural adjuvants. The UNFPA states that the world population will surge from 7.7 billion in 2020 to 9.7 billion by 2050 and approximately 11 billion around 2100. As per the organization, 61%, 17%, 10%, 8%, and 5% of the global population live in Asia, Africa, Europe, Latin America and Caribbean, and North America and Oceania, respectively.

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Within the chemical group segment, the alkoxylates category accounted for the largest share in the agricultural adjuvants market in 2019. This was on account of the surging use of alkoxylates in pesticide formulations, owing to their non-reactive/non-ionic characteristic. These agricultural adjuvants are largely used in the treatment of tobacco weed, Chinese apple (Ziziphus mauritiana), biddy bush (Cassinia arcuata), and giant bramble (Rubus alceifolius). Due to such advantageous properties of this agricultural adjuvant, the category will retain its market dominance in the coming years as well.

Currently, the agricultural adjuvants industry is consolidated in nature, due to the presence of a handful of large-scale players, such as The Dow Chemical Company, Croda International Plc, BASF SE, Solvay S.A., Nouryon, Wilbur-Ellis Holdings Inc., and Clariant International Plc. In recent years, major players have engaged in new products to gain a competitive edge. For example, in March 2020, Wilbur-Ellis Holdings Inc. introduced EMBRECE-EA, a new non-ionic surfactant. This product is designed to improve the performance of miticides, fungicides, and insecticides by elevating the spreading and wetting of spray materials.

Geographically, the North American region accounted for the largest share in the agricultural adjuvants market in 2019, due to the presence of local manufacturers and availability of a wide array of products in the U.S. and Canada. Moreover, the massive government support to adjuvant manufacturers and related agrochemical companies will steer the market growth in the region. For instance, the U.S. has a virtually non-existent regulation on the application of agricultural adjuvants.

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On the other hand, the APAC agricultural adjuvants market is expected to register the fastest growth throughout this decade. This will be on account of the extensive food demand in the region, owing to the booming population of regional countries, such as India and China. According to the World Bank, the population of India and China increased from 1.36 billion in 2019 to 1.38 billion in 2020 and 1.39 billion in 2019 to 1.40 billion in 2020, respectively.

Therefore, the burgeoning food demand will propel the need for agricultural adjuvants, globally.

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