Agricultural Surfactants Market Latest Insights, Growth Rate, Future Trends And Forecast by 2027
The global agricultural surfactants market size is expected to showcase significant growth by reaching USD 1,927.5 million by 2027 while exhibiting a CAGR of 5.1% between 2020 and 2027. The growth is attributed to the increasing population rate and the growing demand for crop protection that is driving the adoption of advanced agricultural surfactants globally. This information is published by Fortune Business Insights, in its latest report.
Information source:
https://www.fortunebusinessinsights.com/industry-reports/agricultural-spray-surfactants-market-100392
DRIVING FACTORS
Increasing Population Rate to Augment Growth
According to the data by the United Nations, the global population is expected to reach about 8.5 billion by 2030. And 9.7 billion by 20250. The growing rate of population is likely to propel the demand for food and to suffice the needs the agriculture sector is expected to focus on the development of superior quality yield. These factors are anticipated to drive the demand for advanced agricultural surfactants globally. Additionally, supportive government regulations to promote sustainable farming practices and the increasing focus on crop protection is expected to contribute to the growth of the global agricultural surfactants market during the forecast period.
SEGMENTATION
Anionic Segment Held 35.42% Market Share in 2019
The anionic segment, based on type, held a market share of about 35.42% in 2019 and is expected to gain momentum backed by the surging adoption of anionic agricultural surfactants owing to their ability to release surface tension in liquids to promote better spread of agricultural chemicals.
REGIONAL INSIGHTS
Technological Advancement in Agriculture in North America to Propel Market Growth
Among all the regions, North America is expected to remain dominant and hold the highest position in the global agricultural surfactants market. This is ascribable to factors such as technological advancement in the agriculture industry such as the introduction of genetically modified seeds and the focus on sustainable farming that drives the demand for advanced agricultural surfactants in the region. North America stood at USD 582.9 million in 2019.
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