Soil Active Herbicides Market Growth Rate, Share, Analysis, Outlook and Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Soil Active Herbicides Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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.

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Market Drivers and Trends:

Increasing demand for fruit and vegetable production is expected to propel the growth of the soil-active herbicide market going forward. The production and sale of fruits and vegetables involve the cultivation, harvesting, marketing, and distribution of fresh produce for local consumption and commercial markets. This process encompasses various aspects, including quality control, market demand, and consumer preferences. Soil-active herbicides can control the growth of weeds, allowing crops to grow more efficiently and produce higher yields. Additionally, soil-active herbicides can help prevent the spread of diseases and pests that can damage crops, further contributing to increased production. For instance, in February 2023, according to Statistics Canada, a Canada-based government agency commissioned with producing statistics, farm-gate sales of fruits and vegetables increased by 13.1%, reaching $3 billion from 2021 to 2022. Fruit and vegetable farm gate sales increased by 15.3% and 11.2%, respectively, as all main commodities did as well. Moreover, the nation's overall production of fruits and vegetables increased by 6.1% to 3.5 billion kg in 2022. Therefore, the increasing demand for fruit and vegetable production is driving the growth of the soil-active herbicide market.

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.

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Major Key Players of the Market:

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

Soil Active Herbicides Market 2024 Key Insights:

• 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%.
• Population Growth And Shift Towards Plant-Based Diets Fueling Soil-Active Herbicides Market Expansion
• Innovative Soil-Active Herbicides Revolutionize Market Growth
• Asia-Pacific was the largest region in the soil active herbicides market share in 2023

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