An influential Agrigenomics Market report consists of an extensive study of diverse market segments and regions, emerging trends along with major drivers, challenges, and opportunities in the market. Market segmentation is a significant parameter that categorizes the market depending upon application, vertical, deployment model, end-user, and geography etc. This business research report also provides CAGR value fluctuation in percentage during the forecast period of 2022-2029 for the market. Additionally, Agrigenomics Market report has been structured by keeping in mind all the foremost aspects of the market research that put forth market landscape simply into focus.
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Data Bridge Market Research analyses that the agricultural adjuvants market is expected to reach USD 5.94 billion by 2030, which is USD 3.70 billion in 2022, registering a CAGR of 6.10% during the forecast period of 2023 to 2030.
An agricultural adjuvant is any substance that enhances the efficiency of pesticides, including herbicides, fungicides, insecticides, and many other agents that eliminate or control unsolicited pests. Like medical adjuvant, agriculture adjuvant is not directly responsible for eliminating or controlling pests. These additives instead allow the pesticides to target, protect or penetrate the organism by transforming a particular property of the spray solution.
Some of the major players operating in the agricultural adjuvants market are:
- Clariant AG (Switzerland)
- Solvay (Belgium)
- Corteva (U.S.)
- Dow (U.S.)
- Huntsman International LLC (U.S.)
- Evonik Industries AG (Germany)
- Ingevity (U.S.)
- Nufarm Canada (Canada)
- Croda International Plc (U.K.)
- BASF SE (Germany)
- Stepan Company (U.S.)
- Miller Chemical & Fertilizer, LLC (U.S.)
- Lamberti S.p.A., (Italy)
- Momentive (U.S.)
- Syngenta (Switzerland)
- Nouryon (Netherland)
- Loveland Products, Inc. (U.S.)
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Global Agricultural Adjuvants Market Dynamics
- Growing production of fresh fruits and vegetables
The increasing production of fresh fruits and vegetables globally because of growing consumer health consciousness will likely drive the market’s growth. As per the Horticultural Statistic at A Glance 2018, the production of fruits augmented from 74.9 to 97.4 million tons from 2010-11 to 2017-18. Also, vegetable production increased from 133.7 to 184.4 million tons from 2010-11 to 2017-18. Hence the growing production of fresh fruits and vegetables boosts the market growth.
- Increasing demand for agrochemicals
Growing demand for agrochemicals is likely to propel the growth of the agricultural adjuvants market. Agrochemicals are those chemical products composed of pesticides, fertilizers, and plant-growth hormones used in agriculture. An agricultural adjuvant is an auxiliary that surges the effectiveness of an agrochemical. For instance, in 2021, according to the International Fertilizer Association, a France-based non-profit organization, Nitrogen demand augmented by 4.3 Mt to 110.0 Mt from 2020 to 2021, accounting for more than half of the global fertilizer use. Thus, the rising demand for agrochemicals is boosting market growth.
- Growing demand for green adjuvant
The growing demand for green adjuvant is expected to create lucrative opportunities for market growth in upcoming years. A growing focus on wellness and health among consumers is one of the major factors for the growth of the demand for green adjuvants. Consumers are progressively inclined toward organically produced foods. Hence, companies are focusing on developing eco-friendly and bio-based adjuvants such as modified vegetable oils, organo-modified siloxanes, and methylated seed oil.
- Increasing partnerships between market players
The increasing partnership between market players in the global agricultural adjuvants market will likely generate ample opportunities within the market. For instance, in 2021, Attune Agriculture announced its partnership with Nufarm Grupo to develop an Ampersand adjuvant in Mexico. Ampersand adjuvant works more contrarily than normal surfactants. At the same time, most spreaders or stickers rely on droplet spread for leaf coverage. This partnership will help the company strengthen its global market position.
Analysis on the market gives us these points Agrigenomics Market
- To gain insights about the major regional insights in which the Agrigenomics Market is flourishing.
- To strategically profile key players and comprehensively analyze their Agrigenomics Market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
- Product Development/Innovation: Detailed insights on the product approvals, R&D activities, and product launches in the Agrigenomics Market Recent industry trends and developments
- To describe and forecast the Agrigenomics Market , in terms of value, by process, product type, and industry.
- Potential and niche segments/regions exhibiting promising growth
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