The rising demand for agricultural adjuvants to improve the performance of pesticides formulation, and increasing food requirement due to the surging population are driving the growth of theagricultural adjuvants market. In 2017, the market attained a size of $2,777.6 million, and is expected to generate a revenue of $3,778.9 million by 2023, advancing at a CAGR of 5.3% during the forecast period (2018–2023).
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Based on function, the agricultural adjuvants market is classified into utility and activator adjuvants. Of these, in 2017, the activator classification held more than 65.0% sales volume share in the market. This is ascribed to various benefits associated with these adjuvants, such as reduced rainfastness and surface tension, increased spray retention and solubilization, and raised movement of pesticide on greater absorption across the spaces of the foliar. These benefits encourage the adoption of activator adjuvants, thereby accelerating the growth of the market.
Agricultural adjuvants can be added to a variety of pesticides, including insecticides, herbicides, and fungicides. During the historical period, herbicides held the largest share in terms of volume in the agricultural adjuvants market.They are widely use in broadleaf crops and winter cereals. Furthermore, herbicides are highly compatible with different adjuvants such as vegetable oil and petroleum concentrate-based products, and non-iconic surfactants. In addition, the usage of adjuvants with herbicides offers high economic benefits and incentives to agricultural installations and farmlands.
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Based on chemical group, the agricultural adjuvants market is divided into alkoxylates, sulfonates, organosilicones, and others. Out of these, in 2017, the alkoxylates division held more than 50.0% share in terms of in the market in terms of sales volume. Alkoxylates include alcohol ethoxylates, alcohol alkoxylates, alkyl octylphenol, and polyethoxylated derivates. Across the globe, alcohol-based alkoxylates are widely adopted for broadleaf weeds’ treatment due to their non-ionic and non-reactive nature. Thus, owing to these benefits, the demand for alcohol-based alkoxylates is anticipated to rise during the forecast period.
Talking about the crop type, oilseeds and pulses, cereals and grains, and fruits and vegetables would be some of the categories of the market. Out of these, in 2017, the cereals and grains category dominated the market with nearly 45.0% share in terms of volume. Increasing global population and shrinking cultivable land are anticipated to create pressure on the farming community to maximize crop productivity, which in turn is expected to boost the usage of pesticides and adjuvants in the forecast period.
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According to the Population Division of the United Nations Department of Economic and Social Affairs, in 2017, the global population was 7.6 billion, and it is anticipated to reach approximately 9.8 billion by 2050. The extra population of 2.2 billion is predicted to create an additional demand for cash, horticulture, and food crops during the forecast period. As a result of the surging population and expanding cities, the cultivable area is shrinking fast to accommodate metropolitan towns and cities. According to the Food and Agricultural Organization (FAO), in 2015, the cultivable land decrease to 48.6 million square km from 49.4 million square km between 2000 and 2015.
Hence, the increasing consumption for food and reducing cultivable land are raising the demand for optimum utilization of fields along with higher yield, thereby driving the agricultural adjuvants market.