Agricultural Adjuvants Market - Forecasts from 2024 to 2029

Agricultural Adjuvants Market - Forecasts from 2024 to 2029

The global agricultural adjuvants market is expected to experience a CAGR of 4.26% throughout the forecast period, reaching a market size of US$4.809 billion by 2029. This represents an increase from US$3.591 billion recorded in 2022.

Agriculture adjuvants help increase the penetration, adhesion, and dispersion of fertilizers and pesticides on plant surfaces, improving overall crop protection and nutrient delivery efficacy. They are supplements that enhance the effectiveness of the main inputs used in agriculture. Growing focus on sustainable agricultural practices, which call for the economical use of inputs like pesticides and fertilizers, the increasing demand for improved crop protection and increased agricultural productivity, and the adoption of precision farming techniques are the major factors driving the agricultural adjuvants market. In addition, the market is further growing because of developments in formulations and technologies that enhance adjuvant effectiveness while lowering environmental impact.

Increasing adoption of indoor farming to propel the product demand.

The agricultural adjuvants market is significantly impacted by the use of precision agriculture techniques in indoor farming. Crop management accuracy is essential in indoor farming, which is defined by controlled conditions like greenhouses and vertical farms. In relation to this, agricultural adjuvants are essential since they increase the effectiveness of agrochemicals like pesticides and herbicides. Adjuvants help to get the best outcomes possible, and the regulated circumstances of indoor farms need the precise and efficient administration of these chemicals. According to the data published by iFarm, a leading vertical farm company in Saudi Arabia, the annual revenue of iFarm Vertical Farms increased from 72 thousand dollars in 2021 to 74 thousand dollars in 2022 owing to the growth in awareness of vertical farms and increasing arable land. Moreover, initiatives for the growth of indoor farming by various players is further fueling the agricultural adjuvants market worldwide. For instance, in June 2021, the state-of-the-art Research Center for AeroFarms, a pioneer in indoor vertical farming and a certified B Corporation, began construction in Abu Dhabi. AeroFarms AgX LTD, the company's wholly-owned subsidiary in the United Arab Emirates, planned to focus solely on the newest advancements in indoor vertical farming, innovation, and AgTech. Additionally, in May 2023, the world's most technologically sophisticated indoor vertical farm, the Plenty Compton Farm debuted in Compton, California. Its one city block was used to grow up to 4.5 million pounds of leafy greens a year. Numerous patent assets held by Plenty enables it, such as its innovative 3D vertical design, which powers the farm's industry-leading production of up to 350 times that of a traditional farm per acre.

Furthermore, according to UN estimates, Earth will need to feed an additional 2.3 billion people by 2050, the majority of whom will live in cities far from agricultural areas. To deal with this, NASA implemented vertical farming principles on a practical level, having constructed the nation's first vertical farm. Technologists piled hydroponic trays against the walls of a defunct hypobaric room that had been used to test the Mercury space spacecraft. Then, using readily available components, systems for lighting, ventilation, and water circulation were built. On the stacked trays, several crops were planted to see how well they would grow in water and without the aid of sunlight or fresh air.

It is projected that the global agricultural adjuvants cooker market in the North American region will grow steadily.

The agricultural adjuvants market is expected to propel in the United States. This is owing to the increasing use of precision agriculture in the market coupled with the presence of companies such as the Dow Chemical Company, are all adding to the market growth in coming years. Additionally, the United States agricultural adjuvants market growth is driven by the substantial utilization of agrochemicals, primarily in conjunction with adjuvants. Increasing focus on augmenting agricultural productivity is leading to heightened chemical application, consequently boosting the demand for adjuvants. The consistent upward trajectory in revenue within the pesticides and agricultural chemicals sector signifies a positive growth pattern for pesticides. This, in anticipation, is projected to drive the United States agriculture adjuvant market forward throughout the forecast period. According to the U.S. Department of Agriculture, in 2021, the combined contribution of agriculture, food, and related industries to the U.S. gross domestic product (GDP) was approximately $1.264 trillion, representing a 5.4% share. Specifically, the output generated by American farms accounted for $164.7 billion of this total, constituting approximately 0.7 percent of the overall U.S. GDP. Hence, the rising agriculture sector in the United States is expected to boost the market for agricultural adjuvants.

Market Key Developments
September 2023, AtloxTM BS-50, a delivery system designed to particularly address the demands of the expanding biopesticide sector, was launched by Croda. The agricultural industry is moving towards more environmentally friendly goods, and biopesticides made of natural ingredients are being investigated extensively as a potential solution.
February 2020, AltaHance, a new bio-based adjuvant product line from Ingevity, was introduced. AltaHance is a multipurpose retention technology with adjustable rain fastness that is intended to be used in crop protection products to increase the agrochemical's efficacy.
November 2022, Corteva, Inc. and Stoller Group, Inc. jointly announced that Corteva had finalized a deal to purchase one of the biggest independent biological firms in the business, Stoller, located in Houston. With operations and sales in more than 60 countries and projected revenues of over $400 million in 2022, Stoller offers Corteva rapid scale and profitability with accretive EBITDA margins.

Segmentation:

By Type:

Activator Adjuvants
Oil Adjuvants
Surfactants
Utility Adjuvants
By Application:

Herbicides
Insecticides
Fungicides
Others
By Geography
North America
US
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Spain
Others
Middle East and Africa
UAE
Saudi Arabia
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Taiwan
Australia
Others