Agricultural Algaecides Market Global Market Report 2024

Agricultural algaecides are chemical substances used to eradicate and inhibit the growth of algae and cyanobacteria. These substances are employed to mitigate or reduce extensive algal blooms and eliminate phytoplankton. One widely used algaecide is copper sulfate, which is highly soluble in water. When dissolved in water and applied through injection or spraying, copper sulfate induces immediate senescence in algae.

The primary types of agricultural algaecides available on the market include copper sulfate, chelated copper, peroxyacetic acid, hydrogen peroxide, dyes and colorants, and others. Copper sulfate finds applications in both agricultural and non-agricultural settings, serving various purposes such as fungicides, algaecides, root killers, and herbicides. This chemical compound, denoted as CuSO4 and known by names like blue vitriol, the vitriol of copper, and bluestone, operates through different modes of action, including selective and non-selective. The categories of algaecides encompass both synthetic and natural options, available in solid and liquid forms.

The agricultural algaecides market research report is one of a series of new reports that provides agricultural algaecides market statistics, including global market size, regional shares, competitors with agricultural algaecides market share, detailed agricultural algaecides market segments, market trends, and opportunities, and any further data you may need to thrive in the agricultural algaecides industry. This agricultural algaecide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 observed in the historic period can be attributed to factors such as increasing concerns about water quality, the expansion of the aquaculture industry, traditional agricultural practices, and the need for effective crop protection methods. These factors collectively contributed to the development and adoption of agricultural algaecides during that period.

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 anticipated growth in the forecast period can be attributed to several factors, including global population growth, the impact of climate change, increasing awareness of sustainable agriculture practices, and opportunities in emerging markets. Key trends expected in the forecast period encompass an increasing emphasis on bio-based algaecides, the adoption of precision agriculture practices, collaborations and partnerships within the industry, a focus on research and development, the integration of digital farming solutions, and the expansion of the global market for agricultural algaecides. These trends reflect the evolving landscape and innovations in the field of agricultural algaecides.

The progressive expansion of the agricultural sector is serving as a catalyst for the upswing in the agricultural algaecides market. Within the agricultural domain, encompassing crop production, livestock breeding, and the harvesting of fish and other animals, the application of algaecides plays a pivotal role in enhancing agricultural output. Algaecides contribute to weed and insect control in areas outside farm structures, nurseries, greenhouses, and other cultivation operations. The augmentation of the agriculture industry correlates directly with an increased utilization of algaecides to optimize production and enhance crop quality. In September 2023, the U. S. Department of Agriculture (USDA) reported that the collective contribution of agriculture, food, and related sectors to the United States' gross domestic product (GDP) in 2021 amounted to approximately $1.264 trillion, representing a 5.4% share. American farms alone contributed $164.7 billion to this figure, constituting around 0.7% of the nation's GDP. Consequently, the expansion of the agricultural sector is steering the growth of the agricultural algaecides market.

Anticipated expansion in the aquaculture industry is set to drive the growth of the agricultural algaecide market. The aquaculture sector, synonymous with aquafarming or fish farming, involves the controlled cultivation, breeding, and harvesting of aquatic organisms like fish, shellfish, and aquatic plants. Algaecides play a crucial role in managing and controlling algae growth in aquaculture systems, ensuring the health and productivity of fish and shellfish and, consequently, fueling the demand for effective algaecides. A report by the U. S. Department of Agriculture (USDA) in February 2022 projected the total fish production to reach approximately 2.2 million metric tons (MMT) in 2021, with aquaculture contributing 1.7 MMT. Egypt, aiming to achieve 3 MMT in fish production by 2025, anticipates a surge in fish feed demand, estimated at around 650,000 metric tons. Hence, the expansion of the aquaculture industry is propelling the growth of the agricultural algaecides market.

Key players in the agricultural algaecide market are actively developing innovative products, such as non-copper-based algaecides, to cater to broader customer bases, drive increased sales, and boost overall revenue. Non-copper-based algaecides are chemical formulations designed to control or eliminate algae growth in diverse environments, including water bodies, without containing copper-based active ingredients. Lake Restoration, a U. S. -based aquatic plant management company, exemplified this trend by introducing Cape Furl in May 2022, an algaecide and fungicide suitable for application in aquatic environments with live fish and plants. Notably, Cape Furl distinguishes itself as a user-friendly, copper-free algaecide, offering a swift and effective solution for eradicating algae, mold, or moss. Approved by the Environmental Protection Agency (EPA), Cape Furl contains sodium carbonate peroxyhydrate (SCP) and provides a safe and efficient remedy for eliminating algae in ponds, ensuring the well-being of sensitive fish species like trout, koi, and channel catfish that may be negatively impacted by copper-based algaecides. Application methods include broadcasting the granular powder directly over algae-affected areas or dissolving the granules in water and subsequently spraying them onto algae mats.

In September 2021, Best Agrolife Ltd., a chemical manufacturing company headquartered in India, successfully completed the acquisition of Best Crop Science Private Limited for an undisclosed sum. This strategic move enables Best Agrolife to bolster its research and development (R&D) capabilities and synthesis expertise in producing active ingredients for herbicides, insecticides, and fungicides. The acquisition further contributes to an expansion in manufacturing capacity and a diversified enhancement of the company's product portfolio.

Major companies operating in the in the agricultural algaecides market market report are 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.

North America was the largest region in the agricultural algaecides market in 2023. The regions covered in the agricultural algaecides market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries 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.

The agricultural algaecides market consists of sales of natural algaecides, synthetic algaecides, quaternary algaecides, and polyquats algaecides. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The market value includes the value of related goods sold by the service provider or included within the service offering.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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