With the boom in the global population level, the demand for food products is rising rapidly across the globe. As per the Population Division of the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world was 7.6 billion in 2017. Furthermore, the organization estimates that the global population will rise to around 9.8 billion by 2050, registering a growth of 30.9% over the next 33 years.
Moreover, the growing requirement for food items is causing rapid advancements in agricultural technologies and fueling the soaring usage of agrochemicals such as pesticides, insecticides, and herbicides and adjuvants in farming processes. Due to these factors, the global agricultural adjuvants market is exhibiting huge expansion. As a result, the market value is predicted to increase from $3,106.7 million in 2019 to $5,485.1 million by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.5% between 2020 and 2030.
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Brandt Consolidated Inc., Croda International PLC, Wilbur-Ellis Holdings Inc., Stepan Company, and Clariant AG are some of the major players operating in the North American agricultural adjuvants market. Additionally, only a few states in this region such as Idaho, California, and Washington have strict regulations regarding the usage of agricultural adjuvants. Furthermore, the absence of any strict regulations or opposition to the regulation, development, and usage of agricultural adjuvants is massively boosting the sales of these materials in this region.
Hence, it is safe to say that the demand for agricultural adjuvants will soar all over the world in the forthcoming years, primarily because of the rising demand for food products and higher crop yield in several countries around the world.
