Global Agricultural Algaecides Market Strategies Forecast 2024 - 2033
7 May, 2024
The agricultural algaecides market has experienced strong growth, increasing from $3.41 billion in 2023 to $3.64 billion in 2024, with a compound annual growth rate (CAGR) of 6.7%. This growth can be attributed to mounting concerns about water quality, expansion of the aquaculture industry, traditional agricultural practices, and the imperative for crop protection. Future projections indicate sustained robust growth, reaching $4.83 billion in 2028, with a CAGR of 7.3%. Driving factors include global population growth, the impact of climate change, rising awareness of sustainable agriculture, and emergence of new markets. Notable trends include a growing emphasis on bio-based algaecides, adoption of precision agriculture techniques, collaborative partnerships, focus on research and development initiatives, proliferation of digital farming solutions, and expansion of global market reach.
Major Driver In The Agricultural Algaecides Market
Expansion in the agricultural sector plays a pivotal role in driving growth in the agricultural algaecides market. Algaecides play a crucial role in weed and insect control, contributing to enhanced agricultural productivity. With the agriculture and food sectors accounting for a significant 5.4% of the GDP reported by the U.S. Department of Agriculture in 2021, the sector's expansion further fuels the demand for algaecides, thereby fostering growth in the agricultural algaecides market.
Request A Free Sample Of The Global Agricultural Algaecides Market ReportAgricultural Algaecides Market Competitive Landscape
Badische Anilin und Soda Fabrik SE, Dow Inc, Nufarm Agriculture Inc., Bioguard Organics Ltd., Bayer AG, Lonza Group Ltd., Pinch A Penny Inc., United Phosphorus Limited, Oreq Corporation, Waterco Limited, Pool Corporation, Syngenta Group Co. Ltd, BioSafe Systems LLC, Airmax Inc., Sepro Corporation, FMC Corporation, SIPCAM-OXON GROUP, Origin Enterprises PLC, Certis USA LLC, Vanson HaloSource Inc., Brandt Consolidated Inc., Gowan Company LLC, Helena Agri-Enterprises LLC, Isagro S. p. A., Marrone Bio Innovations Inc., Valent BioSciences LLC, Wilbur-Ellis Company, Aurora Cannabis Inc, Tesla Inc.
Key Agricultural Algaecides Market Trend
Companies operating in the agricultural algaecide market are introducing innovative products like non-copper-based algaecides to cater to larger customer bases and boost sales. Non-copper-based algaecides offer effective algae control without containing copper-based active ingredients. Lake Restoration launched Cape Furl in May 2022, an algaecide and fungicide suitable for aquatic environments housing live fish and plants. This user-friendly product, free of copper, swiftly eliminates algae, mold, or moss while ensuring the safety of sensitive fish species. Cape Furl, an EPA-approved algaecide containing sodium carbonate peroxyhydrate (SCP), provides a rapid and effective solution for algae elimination in ponds, with application methods including direct broadcasting or dissolution and spraying.
Get The Full Global Agricultural Algaecides Market ReportAgricultural Algaecides Market Segmentation
The agricultural algaecides market market covered in this report is segmented –
1) By Type: Copper Sulphate, Chelated Copper, Peroxyacetic Acid, Hydrogen Dioxide, Dyes, Colorants, Other Types
2) By Mode Of Action: Selective, Non-Selective
3) By Category: Synthetic Algaecides, Natural Algaecides
4) By Form: Solid, Liquid
By Geography:The regions covered in the agricultural algaecides market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.North America was the largest region in the agricultural algaecides market in 2023.
The Agricultural Algaecides Market Global Market Report 2024 furnishes information about the global agricultural algaecides market market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.