According to The Business Research Company’s Agricultural Algaecides Market, The agricultural algaecides market size has grown strongly in recent years. It will grow from $3.41 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growing concerns about water quality, expansion of aquaculture industry, traditional agricultural practices, crop protection.
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The agricultural algaecides market size is expected to see strong growth in the next few years. It will grow to $4.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to global population growth, climate change impact, rising awareness of sustainable agriculture, emerging markets. Major trends in the forecast period include increasing emphasis on bio-based algaecides, precision agriculture adoption, collaborations and partnerships, focus on research and development, digital farming solutions, global market expansion.The expansion of the agricultural sector is propelling the growth of the agricultural algaecides market.
The agriculture sector includes businesses whose main activities are the production of crops, the breeding of livestock, and the collection of fish and other animals from farms, ranches, or their natural habitats. The application of algaecides aids in agricultural output by aiding in weed and insect control outside farm buildings, nurseries, greenhouses, and other growing operations. The growth of agriculture directly ensures more and more use of algaecides to improve production and crop quality. For instance, in September 2023, according to the U.S. Department of Agriculture (USDA), the agriculture, food, and associated sectors collectively added approximately $1.264 trillion to the United States’ gross domestic product (GDP) in 2021, representing a 5.4% contribution. Out of this amount, the output generated by American farms accounted for $164.7 billion, constituting roughly 0.7% of the nation’s GDP. Therefore, the expansion of the agricultural sector is driving the growth of the agricultural algaecides market.
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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
Major companies operating in the agricultural algaecide market are developing innovative products such as non-copper-based algaecides to meet larger customer bases, more sales, and increase revenue. Non-copper-based algaecides are chemical compounds or formulations used to control or eliminate algae growth in various environments, such as water bodies, without containing copper-based active ingredients. For instance, in May 2022, Lake Restoration, a US-based aquatic plant management company, launched Cape Furl, an algaecide and fungicide suitable for application in aquatic environments that house live fish and plants. One standout characteristic of this product is that Cape Furl is a user-friendly algaecide free of copper, providing a rapid and effective solution for eliminating algae, mold, or moss. Cape Furl is an EPA-approved algaecide containing sodium carbonate peroxyhydrate (SCP). It offers an effective solution for eliminating algae in ponds while ensuring the safety of sensitive fish species such as trout, koi, and channel catfish, which can be adversely affected by copper-based algaecides. You can apply this product by either broadcasting the granular powder directly over the areas with algae or by dissolving the granules in water and then spraying them onto the algae mats.
The agricultural algaecides market market report table of contents includes:
- Executive Summary
- Agricultural Algaecides Market Characteristics
- Agricultural Algaecides Market Trends And Strategies
- Agricultural Algaecides Market – Macro Economic Scenario
- Global Agricultural Algaecides Market Size and Growth
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- Global Agricultural Algaecides Market Competitive Benchmarking
- Global Agricultural Algaecides Market Competitive Dashboard
- Key Mergers And Acquisitions In The Agricultural Algaecides Market
- Agricultural Algaecides Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Badische Anilin und Soda Fabrik SE
- Dow Inc
- Nufarm Agriculture Inc
- Bioguard Organics Ltd
- Bayer AG
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