Agricultural Surfactants Market Value Projected to Expand 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.
Limited Availability of Agrochemical Supplies to Hamper Growth Prospects
The lockdown amid the novel coronavirus announced by the government agencies have halted several industrial operations globally. This has led to major supply chain disruption being experienced by the agriculture sector. Additionally, the limited availability of agrochemical supplies is likely to affect the market growth leading to several problems faced by the farmers. However, lifting off some restrictions is likely to aid the growth of the market in the forthcoming years.
Agricultural surfactants are additives that are widely adopted in the agriculture sector to improve the effectiveness of the pesticides. They are further used to efficiently and effectively obtain superior crop yield and manage better crop protection. The growing demand for food is propelling the manufacturers to develop advanced agricultural surfactants globally.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027.
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.
