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Soil Active Herbicides Market Expansion, Future Growth Rate, Industry Insights, Top Trends And Forecast To 2033
Soil Active Herbicides Market Overview
As per the report, 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 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%.
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Population Growth And Shift Towards Plant-Based Diets Fueling Soil-Active Herbicides Market Expansion
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.
Innovative Soil-Active Herbicides Revolutionize Market Growth
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 Agro, 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 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
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Major companies operating in the soil active herbicides market report are Bayer AG, BASF SE, Syngenta AG, DuPont de Nemours, Inc., ADAMA Ltd., Arysta LifeScience, Inc., Nufarm Limited, Nissan Chemical Industries, Ltd., Shandong Binnong Tech Co., Ltd., FMC Corporation, Monsanto Company, UPL Ltd., Bhaskar Agrochemicals Limited, Dhanuka Agritech Limited, Insecticides Limited, Corteva Agriscience LLC, Sumitomo Chemical Co., Ltd., Cheminova A/S, Dow AgroSciences LLC, Gowan Company LLC, Isagro S.p.A., Jiangsu Yangnong Chemical Group Co. Ltd., Kumiai Chemical Industry Co. Ltd., Makhteshim Agan Industries Ltd., Nippon Soda Co. Ltd., Rotam CropSciences Ltd., SinoHarvest Corporation, PI Industries Limited, Rallis India Limited, Sulphur Mills Limited
Contents of the report:
1. Executive Summary
2. Soil Active Herbicides Market Report Structure
3. Soil Active Herbicides Market Trends And Strategies
4. Soil Active Herbicides Market - Macro Economic Scenario
5. Soil Active Herbicides Market Size And Growth
…..
27. Soil Active Herbicides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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