Increasing Food Consumption to Boost Agricultural Adjuvants Industry

Published on February 15 2021

The agricultural adjuvants market growth is driven by surging investments in the agriculture industry and increasing demand for agrochemicals. These factors are expected to drive the market at a CAGR of 5.5% during the forecast period of 2020–2030. At this rate of growth, the market is expected to increase its size from $3,106.7 million in 2019 to $5,485.1 million by 2030. This growth will also be augmented by the growing population that is creating a high demand for food.

The global demand for food has increased tremendously due to the rise in population worldwide. As per the Population Division of the United Nations Department of Economic and Social Affairs (UNDESA), the global population that stood at 7.6 billion in 2017 is projected to reach around 9.8 billion by 2050. This additional population will generate additional demand for horticulture crops, food crops, and cash crops, in future. This surge in demand will, thus, promote the growth of the market during the forecast period.

Additionally, the agriculture sector is witnessing a huge influx of capital and investments to develop new products to generate higher yield and better-quality crop. This influx is expected to increase in future that will, in turn, increase the agricultural adjuvants market size during the forecast period. Currently, the trend of direct investments, such as venture funding, in agricultural technologies is driving the market growth. Besides, growing focus on supply chain technologies, farm management, novel farming systems, farm agrochemicals, and farm robotics will go a long way in boosting the market growth.

Hence, the increasing demand for food is expected to increase the application of agricultural adjuvants, thereby, adding to the revenue size of the market.