Crop Oil Concentrates Market : Envisaging the Path to Global Size and Share by 2021-2028
Crop
Oil Concentrates Market Analysis
The global crop oil concentrates market will touch USD
310 million at a 4.25% CAGR by 2028, as per the recent Market Research Future
report. This crop oil concentration is used to improve the strength and quality
of herbicides, insecticides, and fungicides. The worldwide crop oil
concentrates market is expected to develop due to the rising usage of
herbicide-tolerant crops. Crop
Oil Concentrates Market Eyeing Remarkable Growth due to Growing Demand for Sustainable
Agriculture By Forecast by 2028
Increased Usage
of Herbicides to Boost Market Growth
The rise of crop oil concentrates industry is mostly being
driven by the rising usage of herbicides. Vendors make significant investments
in the creation of new classes of herbicides which are more efficient and
environmentally friendly. The increased use of herbicides especially in
agricultural applications, driven by the shift in consumer tastes towards
fruits and green vegetables, as well as growing health and fitness
consciousness, is driving up demand for adjuvants such as crop oil
concentrates. Furthermore, farmers are being forced to utilize crop oil
concentrates for boosting herbicide effectiveness due to the rise in plant
resistance to herbicides.
Opportunities
Growing Demand
for Sustainable Agriculture to offer Robust Opportunities
Sustainable and ecologically friendly agriculture methods are
becoming more and more important. Crop oil concentrates can help achieve the
objectives of sustainable agriculture by lowering the quantity of chemical
inputs required for crop protection.
Restraints and Challenges
Farmers’ Lack of
Awareness to act as Market Restraint
Farmers’ lack of awareness, accessibility of alternative
substitutes, and fluctuations in raw material prices may act as market
restraints over the forecast period.
Market
Segmentation
The global crop oil concentrates market size is bifurcated
based on crop type, surface concentration, and application.
By application, herbicides will lead the market
over the forecast period.
By surface concentration, the market is
bifurcated into greater than 25%, between 15-25%, and less than 15%.
By crop type, cereals and grains will dominate
the market over the forecast period.
COVID-19 Analysis
Global supply networks were interrupted by the pandemic,
which could have had an impact on the manufacture & distribution of COCs.
Farmers' capacity to successfully safeguard their crops may have been hindered
by delays in the supply of these items. There may have been a labor shortage in
the agriculture industry as a result of limitations and worries. This could have
had an impact on how COCs & other agricultural pesticides were applied,
perhaps decreasing their effectiveness.
Regional Analysis
North
America to Head Crop Oil Concentrates Market
The greatest market share for crop oil
concentrates in 2020 belonged to North America. The three most significant
national markets are those of the US, Canada, & Mexico. The market for the
crop oil concentrates within this area is anticipated to rise as a result of
crop oil concentrate producers in North America concentrating on the most
modern farming techniques. Asia-Pacific is expected to account for the second-largest
market share in terms of market value for crop oil concentrates globally. The
U.S. controls the market for crop oil concentrates in North America.
Key
Players
Eminent industry players profiled in the
global crop oil concentrates market report include Croda International Plc.
(UK), BASF SE. (Germany), CHS Inc. (US), KALO, Inc. (US), Helena
Agri-Enterprises, LLC.(US), Innvictis Crop Care, LLC. (US), Plant Health Technologies
(US), Precision Laboratories, LLC (US), Nutrien Ag Solutions (US), and Winfield
United (US).
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