Theagriculture adjuvants marketis projected to grow from USD 3.8 billion in 2023 to USD 4.8 billion by 2028, growing at a CAGR of 4.7% during the forecast period. The agricultural adjuvants industry is growing because of the growing demand for sustainable pest management of farming operations. Additionally, the increased focus on food security is projected to fuel the development of agricultural adjuvants.
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The cereals grains crop type segment held the largest market share in the agricultural adjuvants market in 2022
Agricultural adjuvants play an essential role in agricultures cereal and grain segments. According to FAO, in 2022/23, global cereal production stood at 2,786.6 million tons, with wheat contributing 800.9 million tons and rice 516.9 million tons of production. With the growing production and demand for cereals grains, the utilization of agricultural adjuvants is growing. Celeral grains are consumed as staple foods in most countries worldwide, and protecting these crops from weather, pests, and weeds requires agricultural adjuvants. This is increasing the demand for agricultural adjuvants in cereals grains.
Tank-mix adjuvants are in the fastest-growing adoption stage in the agricultural adjuvants market.
Adjuvants are added separately to the spray tank, and pesticides or herbicides are known as tank-mix adjuvants. Tank-mix adjuvant ensures high performance, drift reduction, improved spray coverage, and increased absorption into the target crops. Farmers are increasingly using tank-mix agricultural adjuvants as they can customize and adjust on a case-to-case basis. Customization ensures desired performance characteristics while treating the targeted pest or weed; hence, the demand has been accelerating.
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The North American market is projected to contribute the largest share of the agricultural adjuvants market.
The demand for agriculture adjuvants in North America is experiencing notable growth due to the increasing use of precision farming in the region. This creates a favorable business environment for adjuvants manufacturers and consumers in the region. North America has the presence of major agricultural adjuvants companies, that offer a wide range of products catering to different crop types and application requirements.
The key players in the agriculture adjuvants market include Corteva Agriscience (US), Evonik Industries AG (Germany), Croda International Plc (UK), Nufarm Limited (Australia), Solvay SA (Belgium), BASF SE (Germany), Huntsman International LLC. (US), Clariant AG (Switzerland), Helena Agri-Enterprises, LLC (US), WILBUR-ELLIS AGRIBUSINESS (US), Precision Laboratories, LLC (US), and CHS Inc. (US). A primary focus was given to new product development to meet the growing demand from farmers. Additionally, acquisitions and deals were other key strategies adopted by these players to expand their presence in the agricultural adjuvants space.
