The global Soil Active Herbicides Market is estimated to be valued at US$ 8,543.1 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Soil-applied or soil active herbicides are chemicals that are applied to soil before or after planting of crops to control unwanted weed growth. They are primarily used in agricultural fields and landscapes. Soil active herbicides provide long term weed control and are less susceptible to weather conditions. They are effective against broadleaf weeds, grasses and annual weeds. Their advantages include flexibility in timing of application and widespread soil distribution to inhibit germination and growth of weed seeds.
Market key trends:-
One of the key trends in the soil active herbicides market is the growing adoption of sustainable agricultural practices. With increasing concerns about environment and soil health, farmers are shifting from foliar applied herbicides to soil applied ones. Soil active herbicides require lower rates of application and have minimal run-off risks. They are more eco-friendly as they don't volatilize into the air. Moreover, preference for herbicides with residual activity is driving demand in the market. Soil applied herbicides provide extended weed control for several months after a single application and reduce the need for multiple sprayings. Their long term residual effect is boosting their adoption rates.
Porter’s Analysis:-
- Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry. However, presence of major players makes market access difficult.
- Bargaining power of buyers: Large buyers such as farmers cooperative and distributors are able to negotiate lower prices. However, need for herbicides keeps bargaining power in check.
- Bargaining power of suppliers: Presence of many raw material suppliers reduces their bargaining power. However, requirements of specialized chemicals increases it.
- Threat of new substitutes: Few alternatives available for soil herbicides. However, advancements in cultivation techniques could offer alternatives.
- Competitive rivalry: High as major players compete for market share and customers. Price competition and new product launches are common.
Key Takeaways:-
The Global Soil Active Herbicides Market Size is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing demand for higher crop yield.
Regional analysis: North America dominates the market currently owing to widespread adoption of modern agricultural practices in countries like U.S. Asia Pacific is expected to be the fastest growing market led by countries like India and China. Population growth and increasing arable land are driving growth.
Key players: Key players operating in the Soil Active Herbicides market include Bayer Crop Science, BASF Agricultural, Syngenta, DuPont, ADAMA, Arysta LifeScience, Nufarm, Nissan Chemical, Binnong Technology. These players are focusing on new product launches and geographic expansions to gain market share.
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Global Herbicides Market: OverviewThe global competitive landscape is increasingly consolidated as a whopping share of the global herbicides market is concentrated in the hands of a small number of players, notes Transparency Market Research (TMR).
An upward of 75.0% share is owned by just seven companies, which include Syngenta International AG, DowDuPont Inc., Agrium Inc., Israel Chemicals Limited, Monsanto Company, and Bayer AG.
Some other prominent players operating in the market are PL Industries, FMC Corporation, Nfarm Ltd., and Israel Chemicals.TMR finds that a large number of players are capitalizing on the synergies of mergers and alliances to consolidate their shares and bolster their product portfolio.The global herbicides market is anticipated to rise at a CAGR of 6.1% during 2017–2025 and touch a valuation of US$29.30 billion by 2025 end.
The global valuation of the market in 2016 was pegged at US$17.37 billion.
Request A Sample of Herbicides Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=6994The various product types of herbicides comprise acetochlor, 2,4-D, glyphosate, and atrazine.
Among the other segments, glyphosate led, vis-à-vis value as well as volume, in 2016.
