The Soil Active Herbicides 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 Soil Active Herbicides Global Market Report 2024, The soil active herbicides market size has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to agricultural intensification, expansion of commercial farming, global population growth, efficiency and cost-effectiveness, government support for agriculture, increase in herbicide-tolerant crops, demand for high-yielding crops, efforts to reduce environmental impact.
The soil active herbicides market size is expected to see strong growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising global food demand, shift towards organic farming practices, government regulations on herbicide use, increased investment in agriculture research, development of herbicide-resistant crops, consumer demand for clean label products, market competition and product differentiation. Major trends in the forecast period include integration of digital farming solutions, innovation in formulations, integrated weed management, research on mode of action, resistance management education, market consolidation and mergers, organic and bio-based alternatives.
The growth of the population and changing dietary preferences towards plant-based food are expected to drive the growth of the soil-active herbicides market going forward. The population is increasing due to an imbalance between births and deaths, lack of family planning, migration, and others. Plant-based food refers to food that is completely obtained from plants and has no dairy, or meat products. People in developed and developing countries are getting cautious about their health and maintaining a regular diet that includes plant-based food. The rise in population needs more production of food to feed which increase the use of herbicides and other natural or chemical fertilizer which gives higher yield. For instance, according to the United Nations (UN), a US-based international organization, the global population is projected to reach 8.5 billion in 2030, and 9.7 billion by 2050. In addition, according to a report by Bloomberg Intelligence, a US-based business and financial data, news, and insights firm, in 2020, plant-based dairy and meat sales reached over $29 billion and are expected to increase to $162 billion by 2030. Thus, the growth of the population and changing dietary preferences towards plant-based food will drive the growth of the soil-active herbicides market.
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The soil active herbicides market covered in this report is segmented –
1) By Product Type: Synthetic Herbicides, Bio-Herbicides
2) By Crop: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crops
3) By Application: Pre-Plant, Pre-Emergence, Post-Emergence
Top Major Players:
Bayer AG
BASF SE
Syngenta AG
DuPont de Nemours Inc.
ADAMA Ltd.
Asia-Pacific was the largest region in the soil active herbicides market share in 2023.
Product innovation is a key trend that is gaining popularity in the soil-active herbicides market. Major companies operating in the market are focused on research and development for product innovations to offer additional benefits and assist in better yield as well as gain a competitive edge in the market. For instance, in August 2021, Summit Argo, a Japan-based firm that specializes in the development, manufacture, and marketing of plant protection products, introduced “”Gemmit Top””, a new herbicide with exceptional broadleaf weed control and grass suppression capabilities. The Gemmit Top herbicide is based on 48% flumioxazin and belongs to the class of PPOs (protoporphyrinogen oxidase inhibitors) with outstanding soil residuality, foliar control of some small broadleaf weeds, broad leaf species control, and suppressive effects on grasses. It is low water soluble making the product remain on the soil even during rain and have greater stability in the mixture, overall ensuring better productivity.
The soil active herbicides market report table of contents includes:
1. Executive Summary
2. Soil Active Herbicides Market Characteristics
3. Soil Active Herbicides Market Trends And Strategies
4. Soil Active Herbicides Market – Macro Economic Scenario
5. Global Soil Active Herbicides Market Size and Growth
…….
26. Global Soil Active Herbicides Market Competitive Benchmarking
27. Global Soil Active Herbicides Market Competitive Dashboard
28. Key Mergers And Acquisitions In The Soil Active Herbicides Market
29. Soil Active Herbicides Market Future Outlook and Potential Analysis
30. Appendix
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