The global soil active herbicides market was valued at US$ 8508.9 Million in 2018, according to Global Soil Active Herbicides Market Report, by Mobility Type (Contact and Systemic), by Mode of Action (Selective Herbicides and Non-Selective Herbicides), by Product Type (Synthetic Herbicides and Bio-herbicides), by Application (Pre-Plant, Pre-Emergence, and Post-Emergence), by End-use Industry (Farming Lawns and Gardening & Landscaping), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) published by Coherent Market Insights.
Definition of Market/Industry:
Soil active herbicides are incorporated in the soil in order to control the growth of unwanted weeds, and plants. These herbicides can be applied to the soil during the plant’s growth or before plantation. The application of soil active herbicides helps in increasing the yield of the crop, which, turn, facilitates demand for these products.
The global soil active herbicides market was valued at US$ 8508.9 Mn in 2018 and is expected to reach US$ 12,956.3 Mn by the end of 2027. The market is projected to grow at a CAGR of 4.7% during the forecast period (2019 to 2027).
Demand for soil active herbicides are expected to increase over the forecast period owing to advantages offered by the herbicides such as preventing the growth of unwanted weeds, both before and after the plantation of crops.
Furthermore, loss of nutrients and moisture can be minimized by pre-emergence or pre-sowing application of soil active herbicides. This is expected to increase demand for herbicides in farming or agricultural applications globally.
The rising adoption of new strategies along with mergers and acquisition in case of soil active herbicide manufacturers can prove to be an opportunity for the manufacturers. For instance, in August 2018, BASF SE acquired the crop protection business of Bayer AG which includes the acquisition of the non-selective herbicide business. This is expected to help the company in expanding its product portfolio.
Increasing use of herbicides can have a negative impact on the environment. For instance, the use of herbicides for controlling weed growth can contaminate the water, or soil in the surrounding area. Moreover, improper dosage of soil active herbicides on crops can affect the yield of crops.
Population expansion is estimated to drive demand for food across the globally. For instance, as per the Food and Agriculture Organization (FAO), the global population is likely to reach 10 billion by 2050 which would require almost 50% more food as compared to what was required in 2012. Meeting the growing consumer demand for food would require plantation of crops by preventing the damage caused by unwanted weeds and perennial grass, which is expected to boost demand for soil active herbicides over the years.
Few Recent Developments:
By Mobility Type
By Mode of Action
By Product Type
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.