Crop Oil Concentrates Market Research Report— Global Forecast till 2028

Global Crop Oil Concentrates Market Research Report: Information by Application (Herbicides, Insecticides, Fungicides, and Others) Surface Concentration (Less than 15%, Between 15% To 25%, and Greater Than 25%) Crop Type (Fruits & Vegetables, Oil seeds & Pulses, Cereals & Grains, and Others), by Region – Forecast till 2028

ID: MRFR/AGR/9070-HCR | April 2021 | Region: Global | 90 pages

Market Scenario


The global crop oil concentrates market size is projected to reach approximately 310million by 2028, at a CAGR of 4.25% from 2021 to 2028. A crop oil concentrate is a blend of a surfactant derived from petroleum-based oil. Crop oil concentrates are highly preferred to increase the strength and quality of herbicides, insecticides, and fungicides. Increasing adoption of herbicide-tolerant crops is the factor supporting the growth of the global crop oil concentrates market. Growing preference towards high surfactant oil concentrate in the agriculture industry further fuels the development of the global crop oil concentrates market.Fluctuations in the raw material prices are expected to hinder the growth of the global crop oil concentrates market. The advent of precision farming has created an opportunity for crop oil concentrates manufacturers. An increase in the production of crops is further expected to support market growth. Crop oil concentrates manufacturers are also focusing on innovation. All the factors are anticipated to create substantial growth opportunities for the growth of the global crop oil concentrate market.


The outbreak of COVID-19 has resulted in the lockdown across regions, border restrictions, and breakdown of transportation networks. The COVID-19 outbreak has affected every sector of the economy. The outbreak of COVID-19 has resulted in a surge in demand for crop oil concentrates around the world.


Market Synopsis


The global crop oil concentrate market has witnessed substantial growth in recent years. The pandemic has created lucrative opportunities for crop oil concentrate manufacturers across the globe. The advent of precision farming can create opportunities for tank mix formulations. Crop oil concentrates can either in the form of vegetable oil or petroleum-based oil and 15-20% emulsifier; these enhance the performance of products. Furthermore, the rise in demandfor crop oil concentratesamong consumers is further expected to amplify the growth of the global crop oil concentrates market during the forecast period.


Market USP


Increasing adoption of herbicide-tolerant crops


Market Drivers



  • Increase adoption of herbicide-tolerant crops: The usage of adjuvants with crop oil concentrates is high for herbicides due to theirvarious applications. Thisboosts the growth of the global crop oil concentrates market.

  • Growing preference towards high surfactant oil concentrate in the agriculture industry

  • Growth of precision farming


Market Restraints



  • Growing competition from vegetable-derived oil concentrates

  • Fluctuations in pricing of raw materials


Segmentation


By Application



  • Herbicides:Thesegment accounted for the largest market share in 2020 and is projected to remain dominant during the forecast period.The rising cultivation area of herbicide-tolerant crops and high weed resistance to herbicide formulations support the growth of the segment.

  • Insecticides:

  • Fungicides:

  • Others:


BySurface Concentration



  • Less than 15%:

  • Between 15% to 25%:

  • Greater than 25%:Greater than 25% surfactant concentration accounted for the major share of the global crop oil concentrates market. The surface concentration determines the price and quality of the products. High surface concentration provides added advantage to the surfactant, and the cost of the product is relatively higher.


By Crop Type


Cereals & Grains: Cereals and grains accounted for the major market share of the global crop oil concentrate market;this is attributed to the increasing consumption of cereals and grains among consumersworldwide.
Oilseeds & Pulses:
Fruits & Vegetables:

Others:


By Region


  • North America: North Americaaccounted for the largest market share of the global crop oil concentrates market in 2020. The key country-level markets include theUS, Canada, and Mexico. Crop oil concentrates manufacturers in North America are focusing on the latest farming techniques, which is further expected to fuel the demand for crop oil concentrates among the farmers.

  • Europe:

  • Asia-Pacific: Asia-Pacific is expected to be thesecond-largest market value in the global crop oil concentrates market. The agriculture sector plays a vital role in Asia-Pacific. Growing preference toward high surfactant oil concentrate in the agriculture industry is expected to drive the global crop oil concentrates market.

  • Rest of the World


Key Players


  • 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)

  • Winfield United. (US)