The report “Agricultural Adjuvants Market by Function (Activator and Utility), Chemical Group (Alkoxylates, Organosilicones, and Sulfonates), Application (Herbicides, Fungicides, and Insecticides), Formulation, Crop Type, and Region – Global Forecast to 2023″, Governments across countries are increasingly investing in the agricultural industry to enhance the growth of the food & beverage sector. Increasing demand for high-quality and GRAS-certified food products has encouraged farmers in various countries to use additives that enhance the growth of crops and their nutrient quotient. Due to these factors, the demand for additives such as agricultural adjuvants is projected to remain high among farmers. According to MarketsandMarkets, the agricultural adjuvants market is expected to account for a value of USD 4.0 billion, recording a CAGR of 5.2%.
The years considered for the study are as follows:
- Base year – 2017
- Estimated year – 2018
- Projected year – 2023
- Forecast period – 2018 to 2023
The objectives of the report:
- Determining and projecting the size of the market, with respect to function, chemical group, application, formulation, crop type, and regional markets, over a five-year period ranging from 2018 to 2023
- Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions.
- Analyzing the demand-side factors based on the impact of macro and microeconomic factors on the market and shifts in demand patterns across different subsegments and regions.
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The Surfactants Segment Is Likely To Record the Highest Growth in the Agricultural Adjuvants Market Throughout 2023
The increasing demand for nutrient-dense crops among consumers has encouraged farmers to utilize agricultural adjuvants such as activator additives to prevent crop destruction and quality degradation. Farmers are increasingly using activator additives such as surfactants, as they increase the spray and contact area retention, modify plant foliage, reduce the surface tension of spray solutions, and improve the movement of plant foliage to areas of better absorption. As the use of surfactants enhances the droplet retention of pesticides, the demand for these agricultural adjuvants continues to remain high among farmers. Due to these factors, the surfactants segment is projected to record the highest growth in the market during the forecast period.
The Organosilicones Segment To Witness the Fastest Growth in the Agricultural Adjuvants Market During the Forecast Period
As the demand for effective crop protection solutions persists, manufacturers focus on utilizing organosilicone-based surfactants to develop new and effective adjuvant formulations. Farmers are increasingly opting for these surfactants as they reduce the surface tension, which prevents phytotoxicity and helps pesticides to penetrate in the stomata of leaves. Due to these factors, the organosilicones segment is projected to record the fastest growth in the agricultural adjuvants market during the forecast period.
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North America To Be a Leading Region in the Agricultural Adjuvants Market Throughout 2023
To attain a leading position in the market, manufacturers mainly focus on developing innovative and novel crop protection solutions. Manufacturers offer requirement-specific solutions for crop protection, which is projected to fuel the demand for agricultural adjuvants among farmers, to increase the crop yield. The region also has the presence of leading players that offer novel and effective agricultural adjuvants. On account of these factors, the agricultural adjuvants market in North America is projected to witness significant growth during the forecast period.
Leading players adopt strategies such as expansions, mergers & acquisitions, new product launches, and agreements to retain their position in the market. Key players identified in this market include Solvay (Belgium), Helena Agri-Enterprise (US), BASF (Germany), Huntsman International (US), and Wilbur-Ellis (US).
Overall, the growth of the agricultural adjuvants market is projected to remain high during the forecast period. To provide effective and accurate solutions for the elimination of infestations and production of nutrient-dense crops, manufacturers develop novel crop protection products. Leading players in the market are also undertaking expansions to enhance their presence in the market and expand their customer base. These factors are projected to reflect positively on the market growth during the forecast period.