Categories: Chemicals

Herbicide Safeners Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Herbicide Safeners Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Herbicide Safeners Global Market Report 2024, The herbicide safeners market size has grown strongly in recent years. It will grow from $1.13 billion in 2023 to $1.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increased herbicide usage, crop protection emphasis, weed resistance management, expansion of agriculture, regulatory compliance.

The herbicide safeners market size is expected to see strong growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued herbicide dependence, climate change impacts, enhanced weed management practices, global food security concerns, sustainable agriculture practices. Major trends in the forecast period include focus on herbicide resistance management, collaborations between agrochemical companies, regulatory support for safe agricultural practices, integration of herbicide safeners into weed management programs, application in specialty crops and horticulture, education and training on safener utilization.

The high demand for herbicide safeners in the agriculture sector is expected to propel the growth of the herbicide safeners market going forward. The agriculture sector refers to the economic activities involved in producing, processing, and distributing agricultural products. Herbicide safeners play a crucial role by protecting crops from herbicide-induced damage, allowing higher doses of herbicides to be used without harming the crops, thereby contributing to increased productivity and efficiency in agriculture. For instance, in October 2022, according to the Department For Environment, Food, And Rural Affairs, a UK-based government agency, UK total income from farming (TIFF) increased from US$960.78 million (£756 million) in 2020 to US$7622.70 (£5,998) in 2021, with an increase of 14%. Therefore, the high demand for herbicide safeners in the agriculture sector is driving the growth of the herbicide safeners market.

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The herbicide safeners market covered in this report is segmented –

1) By Type: Benoxacor, Furilazole, Dichlormid, Isoxadifen, Other Types

2) By Herbicide Selectivity: Selective Herbicides, Non-Selective Herbicides

3) By Crop: Corn, Soybean, Wheat, Sorghum, Barley, Rice, Other Crops

4) By Application: Post-Emergence, Pre-Emergence

Product innovations are a key trend gaining popularity in the herbicide safeners market. Major companies operating in the herbicide safeners market are launching new products to sustain their position in the market. For instance, in April 2023, Syngenta AG, a Switzerland-based agricultural chemical company, launched Recognition herbicide, an effective solution for controlling tough weeds in warm-season turf. This solution targets over 40 broadleaf weeds with excellent turf safety. It can also be mixed with Fusilade II herbicide for bermudagrass removal in zoysiagrass. It offers a safe and reliable option for turf managers, addressing the needs of various professionals in the industry.

The herbicide safeners market report table of contents includes: