Tuesday 20 February 2018, Amsterdam
The increasing food demand has put an immense pressure on the agricultural sector and owing to this, plant and crop protection have become the key concerns across the globe. Between 2007 and 2013, the Weed Science Society of America (WSSA) estimated the annual potential loss in value due to weeds and pests for crops such as corn and soybean at $27 billion and $16 billion, respectively. Earlier, such cases have resulted in the loss of around 20-40% of the agricultural productivity across the globe. Tapping the demand for crop/ plant safety, companies have come up with the agricultural adjuvants, which assist in maximizing the quality, productivity, and sustainability in agricultural production systems, disease vector management in public health systems, and in other industrial and residential areas.
Agrochemicals and agricultural adjuvants markets are interlinked as the increase in consumption of agrochemicals benefits the adjuvants market. The adjuvants business is suffering a downfall as a lesser number of players are entering this market, owing to the improper supervision system, high price sensitivity, and substantial research fund requirements. However, the continuous development in the adjuvant’s field is changing the perception of consumers regarding its use. The major use of adjuvants in the agriculture sector is to enhance the performance of insecticide, pesticide, and herbicide which consequently improves the effectiveness of the solution and helps in providing better distribution and drift reduction.
The concept of “green crop protection” is spreading rapidly across the globe and it may be the future of agriculture sector. This is driving the demand for the agricultural adjuvants since these are important for managing the increasing concern over pesticide residues on food and the problem of pest resistance. Many countries are following the trend of lowering the level of Maximum Residue Limit (RML) and this is expected to continue in the future. Companies in the agricultural adjuvants market across the globe have launched a wide range of products which provide sustainability, crop quality and harvest flexibility benefits. Market players have entered into a number of agreements, collaborations, and partnerships to improve their market presence. By 2020, it is expected that a significant number of traditional agrochemical companies will enter this market which will further consolidate the resource.
In terms of value, the global agricultural adjuvants market is expected to grow at a CAGR of 5.5% from 2017 to 2021 to reach $3.6 billion by 2021. The market is growing due to the increasing demand for agrochemicals, rising awareness regarding hazards of chemical pesticides, and the development of IPM techniques, among others. But the market is facing certain challenges, such as regulatory framework and rising environmental concerns, which are inhibiting the growth of the market.
Our research team has conducted an extensive research on global agricultural adjuvants market, and compiled the observations and insights in a report titled ‘Global Agricultural Adjuvants Market- Analysis & Forecast (2017-2021)‘. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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