Market Trends of Agricultural Adjuvants Industry
Herbicide is a Significant Segment by Type
The global population is increasing exponentially. Nearly 200,000 people are added to the world food demand daily. According to the population division by the United States, the world's human population has increased nearly fourfold in the past 100 years and is projected to reach 9.2 billion by 2050. Thus, supplying food to the growing population has become a global threat.
Moreover, various crop pests cause 10-16% of global crop losses annually. Therefore, to meet the global food demand, farmers adopt herbicide adjuvants as a key strategy. The use of adjuvants over crops is a proven technology for increasing global food production. As per FAOSTAT, in 2021, herbicide consumption worldwide reached 1,732.3 thousand metric tons from 1,655.4 thousand metric tons in 2019.
Besides, herbicides are chemical agents used to kill or inhibit the growth of unwanted plants, such as residential or agricultural weeds and other invasive species. The ease of application is a significant advantage of chemical herbicides over mechanical weed control methods. This also helps save labor costs. The most widely used synthetic herbicides include glyphosate 2, 4-D, atrazine, glufosinate-ammonium, paraquat, pendimethalin, dicamba, fluroxypyr, and metolachlor. However, the growth of the market is mainly driven by glyphosate. Glyphosate, sold under the Roundup brand name of Bayer, is the largest-selling herbicide in the market. It is a broad-spectrum, non-selective, and systemic herbicide, accounting for 60% of the global non-selective herbicides market.
Thus, the increasing population, the growing need to increase crop yield and quality, and the urge to control crop losses to weeds are the major factors driving the market growth.
North America Dominates the Market
North America dominates the agricultural adjuvants market, being a leading hub for advanced crop protection technologies. With vast expanses dedicated to crops like corn and soybean both heavy users of crop protection chemicals the reliance on adjuvants is pronounced. Additionally, heightened awareness of scientific crop protection practices among farmers further amplifies adjuvant usage.
The major share of this region is attributed to crucial factors, such as a rapidly growing population, continuous reduction in the arable land, and increased demand for standard-quality food. Moreover, factors such as shortages of agricultural labor, changing agricultural practices, growing recognition of the environmental impact of agriculture, and growing interest in sustainable production systems are further expected to support the market growth in North America.
In addition, ongoing research and development activities on improved and efficient adjuvant solutions are also anticipated to widen the scope for market growth. The government policies adopted for sustainable agricultural practices support the consumption of adjuvants, which is an additional key factor driving the growth of the market studied in the region.
