New York, United States , June 24, 2024 (GLOBE NEWSWIRE) -- The Global Crop Oil Concentrates Market Size is to Grow from USD 202.5 Million in 2023 to USD 310.3 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.36% during the projected period.
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Crop oil concentrations (COCs) are specialized formulations that are utilized as agricultural adjuvants. Concentrates are often made up of surfactants, oils (vegetable or petroleum), and other substances that increase the effectiveness of insecticides, fungicides, and herbicides. To increase pesticide efficacy and enhance the target crop or weed's coverage and penetration, crop oil concentration is frequently utilized in formulations. Additionally, they decrease the pesticide solution's surface tension, which facilitates its diffusion and attachment to plant surfaces. Crop oil concentration is commonly employed in agricultural applications such row crops, fruits, and vegetables. Additionally, It is expected that the global market for crop oil concentrates will expand significantly as plant growth stimulants and insecticides are utilized more frequently. The fundamental driver behind the global demand for crop oil concentrates can be attributed to these chemicals' potential to raise efficacy and increase herbicide deposition and distribution, hence encouraging farmers to employ them. Using drones and other precision farming technologies for crop protection and nutrition is expected to contribute to the industry's rapid growth. Due to herbicide-tolerant crops are being used widely, the market for crop oil concentrates has grown dramatically. However, the global market for crop oil concentrates is being restricted by the growing negative impact of crops on oils derived from petroleum. It is anticipated that fluctuations in the cost of raw materials and heightened competition from concentrates derived from plants will hinder the overall expansion of the crop oil concentrate sector.
Browse key industry insights spread across 190 pages with 120 Market data tables and figures & charts from the report on the "Global Crop Oil Concentrates Market Size, Share, and COVID-19 Impact Analysis, By Crop Type (Cereals & grains, Oilseeds & Pulses, and Fruits & Vegetables), By Application (Herbicides, Insecticides, and Fungicides), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The cereals and grains segment is anticipated to hold the largest share of the global crop oil concentrates market during the projected timeframe.
Based on the crop type, the global crop oil concentrates market is divided into cereals & grains, oilseeds & pulses, and fruits & vegetables. Among these, the cereals and grains segment is anticipated to hold the largest share of the global crop oil concentrates market during the projected timeframe. In order to maximize the effectiveness of fungicides, insecticides, and herbicides on these crops, crop oil concentration is essential.
The herbicides segment is anticipated to hold the major share of the global crop oil concentrates market during the projected timeframe.
Based on the application, the global crop oil concentrates market is divided into herbicides, insecticides, and fungicides. Among these, the herbicides segment is anticipated to hold the major share of the global crop oil concentrates market during the projected timeframe. Herbicides and crop oil concentration work together to enhance weed adherence and penetration on target, improving crop output and weed control effectiveness.
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North America is expected to hold the largest share of the global crop oil concentrates market over the forecast period.
North America is expected to hold the largest share of the global crop oil concentrates market over the forecast period. The crop oil concentrates market is anticipated to be dominated by North America. The region has a strong demand for efficient weed management solutions, such crop oil concentrates, that aim to enhance crop yields and boost profitability due to its well-developed and technologically advanced agricultural sector. A strong regulatory framework for agricultural products, particularly crop oil concentrates, is advantageous to North America. Regarding the use and safety of these products, this framework gives producers and farmers certainty and predictability.
Asia Pacific is anticipated to grow at the fastest pace in the global crop oil concentrates market during the projected timeframe. Growing agrochemical use and modern farming methods are projected to fuel growth in the APAC crop oil concentrate market. Due to the region's extensive production of a diverse variety of crops, the Asia Pacific, a major contributor to the global agricultural sector, holds a sizable part of the crop oil concentrate market. China and India, two nations with enormous amounts of arable land, are major users of crop oil concentrate, holding a substantial proportion of the global market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global crop oil concentrate market include Cargill, BernAqua, Wilbur-Ellis Company LLC, KALO, Innvictis Crop Care, Winfield United, Loveland Products Inc, Precision Laboratories, Plant Health Technologies, Brandt Consolidated Inc, Croda International, Helena Agri-Enterprises, Alligare LLC, BASF SE, and others.
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Recent Developments
- In July 2022, the Diesel Nut program, being developed by Texas A&M AgriLife and Chevron, aims to utilize peanuts as a sustainable source of diesel fuel. Peanut oil has a low carbon intensity, a measure of the amount of energy needed to make a product, and the amount of net carbon released into the atmosphere during production.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the crop oil concentrates market based on the below-mentioned segments:
Global Crop Oil Concentrates Market, By Crop Type
- Cereals & grains
- Oilseeds & Pulses
- Fruits & Vegetables
Global Crop Oil Concentrates Market, By Application
- Herbicides
- Insecticides
- Fungicides
Global Crop Oil Concentrates Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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