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Crop Oil Concentrates Market is projected to achieve a CAGR of 5.66% to reach US$272.15 billion by 2029

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The crop oil concentrates market is anticipated to grow at a CAGR of 5.66% from US$185.05 billion in 2022 to US$272.15 billion by 2029.

The crop oil concentrates market is anticipated to grow at a CAGR of 5.66% from US$185.05 billion in 2022 to US$272.15 billion by 2029.”
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PARDESH, INDIA, May 30, 2024 / -- According to a new study published by Knowledge Sourcing Intelligence, the crop oil concentrates market is projected to grow at a CAGR of 5.66% between 2022 and 2029 to reach US$272.15 billion by 2029.

Crop oil or crop oil concentrates are petroleum-based adjuvants that improve the performance of pesticides in agricultural applications. Paraffinic or naphtha-based petroleum oil is the main component of crop oils. On the other hand, crop oil concentrates have molecules of emulsifiable petroleum-based oil as the major constituent.

Concentrates of oil for crops are multi-functional in agriculture. They effectively break the surface tension between the leaf surfaces and the spray droplets and therefore promoting the entry of herbicides into the leaves. Besides, they increase the drying time of droplets, resulting in more herbicide absorption. However, the use of crop oil concentrates may result in higher rates of crop damage in the case of the herbicide application.

Escalation in the population which influences the surge in the agricultural field is the primary driving force behind the crop oil concentrates market growth. As compared to population growth, food consumption is poised to lead to prosperity in the global agricultural market. Consequently, the demand for crop protection products like herbicides will surge, which will naturally lead to the growth of the crop oil concentrate market. For instance, as per the July 2024 US Census Bureau report, India's population is now at 1.4 billion. Furthermore, the sex ratio is 106.2 men to every woman with the average fertility being 2.0 children per woman.

This oil concentrate, also known as the crop oil adjuvant, has a non-toxic oil and a surfactant that is low in toxicity. It is commonly applied in agriculture to improve the efficiency of multiple agrochemical products.

Numerous product launches and collaborations are taking place in the market thereby, increasing the crop oil concentrates market growth.

• For instance, in September 2023: Corteva Agriscience introduced a next-generation series of solutions for farmers, which promises four new crop protection products. The portfolio includes Tolvera herbicide, which allows for sufficient weed control and different crop rotations. Furthermore, Utrisha P organic also enhances the efficiency of phosphorus fertilizer, resulting in greater nutrient uptake by the crops. The development of the new Enversa weeding products aimed at strong weed management in corn and soybean. These novel approaches will grant the company with the capability of eradicating major drawbacks of the agricultural field and position itself as the leading innovator in the crop protection technology sphere.

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The crop oil concentrates market (crop-wise) is split into three main segments, which are cereal & grains, oilseeds & pulses, and fruits & vegetables. Cereals and grains are the forecasted values for this market. The Cereals and Grains sector has a major share in the Oil concentration crop market. Corn, wheat, and rice which are extensively used in agriculture and are grown in a large area would be the most used primary products.

The crop oil concentrates market, based on concentration type is segmented into three categories namely less than 15%, between 15% and 25%, and greater than 25%. Less than 15% are expected to account for the crop oil concentrates market. Lower ranges of concentration (below 15%) might be much more suitable for controlling broadleaf weeds.

The crop oil concentrates market, based on application type is segmented into three categories namely herbicides, insecticides, and fungicides. Herbicides are expected to account for the crop oil concentrates market. The major role of herbicides has consequences for the crop oil concentrate market. The crop oil concentrates play a critical role in improving the efficiency of herbicides via their capability to penetrate the waxy layers of the weeds and via their ability to cut down the drift.

Based on geography, the crop oil concentrates market is expanding significantly in the North American region due to various reasons. In nations like the United States, Canada, and Mexico there is a growing demand for crop oil concentrates in different industries, including agriculture, pesticides, and oilseed and pulses. The demand is being driven by these countries is due to the wide-scale use of herbicide-tolerant crops necessitating the establishment of crop oil concentrates in order to enhance the effectiveness of herbicides. Moreover, the growing concerns about spray drift and environmental issues allow crop oil concentration to rise to the occasion as a valuable solution for accurate herbicide application.

The research includes several key players from the crop oil concentrates market, such as Farmers Business Network, Inc, Harrell’s L.L.C., Plant Health Technologies, Nutrien Ag Solutions, Helena Agri-Enterprises, LLC, Precision Laboratories, L.L.C., CHS, Inc., KALO, Inc., Winfield United, BASF Corporation, Croda International Plc, and Invicts Crop Care LLC.

The market analytics report segments the crop oil concentrates market as follows:

• By Crop Type

o Cereals and Grains
o Oilseeds and Pulses
o Fruits and Vegetables

• By Concentration Type

o Less than 15%
o Between 15% and 25%
o Greater than 25%

• By Application Type

o Herbicides
o Insecticides
o Fungicides

• By Geography

o North America

• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• UK
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Thailand
• Others

Companies Profiled:

• Farmers Business Network, Inc
• Harrell’s L.L.C.
• Plant Health Technologies
• Nutrien Ag Solutions
• Helena Agri-Enterprises, LLC
• Precision Laboratories, L.L.C.
• CHS, Inc.
• KALO, Inc.
• Winfield United
• BASF Corporation
• Croda International Plc
• Invicts Crop Care LLC

Explore More Reports:

• Oil Seed Processing Market:

• Crop Micronutrients Market:

• Crop Monitoring Technology Market:

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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