Demand for Agricultural Adjuvants Set to Surge in North America in Future

According to the World Population Prospects 2019, by the United Nations, the global population is likely to grow from 7.7 billion in 2019 to 9.7 billion by 2050. The surging population will create additional demand for food crops, cash crops, and horticulture crops in the coming years. The rising need for these crops will amplify the usage of adjuvants in the agricultural sector, as these agrochemicals help in enhancing productivity. This will, therefore, aid the agricultural adjuvants market to grow from $3,106.7 million in 2019 to $5,485.1 million by 2030, registering a CAGR of 5.5% during 2020–2030.

Currently, the agriculture sector is shifting from chemically synthesized adjuvants to environment-friendly alternatives. The conventional adjuvants are harmful to the environment, as they are chemically synthesized from derivatives of harmful substances, such as amines, alkoxylates, organosilicones, and sulfonates. A majority of the these adjuvants are identified as phytotoxic, which is a potential threat to the food chain, owing to which adjuvants manufacturers are focusing on the production of biodegradable, environment-friendly adjuvants.

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Categories under the application segment of the agricultural adjuvants market include herbicides, fungicides, and herbicides. Among these, the herbicides category held the largest market share in 2019 and it is expected to maintain this trend in the forecast years as well. This is because the usage of adjuvants-based herbicides in the agricultural sector envisages huge economic befits and incentives to agricultural installations and farmlands. Owing to these advantages, such herbicides are being increasingly used in farmlands to preserve crops.

According to P&S Intelligence, North America consumed the highest volume of agricultural adjuvants in the past and it is expected to maintain this trend in the coming years as well. This is ascribed to the presence of local manufacturers, availability of a wide range of products, and government support to adjuvant manufacturing companies and related agrochemical firms. Moreover, customer appreciation policies of these companies are also steering the adoption of agricultural adjuvants in the region.

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Whereas, the Asia-Pacific (APAC) agricultural adjuvants market is expected to witness the fastest growth during the forecast period. This will be due to the increasing usage of these agrochemicals in India and China, owing to their vast population base, which requires agricultural products in abundance. For instance, India and China are expected to add around 2.3 billion people to the world population by 2050. Moreover, the surging nutritional requirements in the region will also drive the demand for agricultural adjuvants in the foreseeable future.

Thus, the booming global population and the soaring agricultural investments will boost the usage of adjuvants in farmlands and agricultural installations in the coming years.

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This release was published on openPR.