July 19, 2024
Soil Active Herbicides Market

Global Soil Active Herbicides Market is estimated to High Growth Owing To Rising Adoption of Minimal Tillage Practices

The 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 active herbicides are applied to the soil before or during planting and work by being taken up by weed roots and shoots. They provide effective pre-emergent and post-emergent weed control. The advantages of soil active herbicides include preventing weed germination and establishment, requiring fewer applications than foliar herbicides, and being suitable for no-till and minimum tillage farming practices.

Market key trends:-

The growing adoption of minimal or no-tillage practices among farmers is driving the demand for soil active herbicides. Minimal tillage techniques reduce soil erosion, conserve moisture, save time and labor, and improve soil health by increasing soil organic matter. Soil active herbicides allow effective weed management without tilling, facilitating the adoption of minimal tillage practices. Another key trend is the development of new formulations such as adding wetting agents or additives to the soil active herbicides. This improves the spread and penetration of herbicides, enhancing their pre-emergent capabilities. Product innovations with extended residual efficacy are also gaining popularity in the market.

Porter’s Analysis:-

  • Threat of new entrants: The threat of new entrants is moderate due to the presence of major players and requirement of huge capital investment for R&D.
  • Bargaining power of buyers: The bargaining power of buyers is moderate as there are various brands available in the market but customers prefer branded products for better quality and effectiveness.
  • Bargaining power of suppliers: Suppliers have low bargaining power since there are numerous suppliers for raw materials used in manufacturing soil active herbicides.
  • Threat of new substitutes: New herbicide substitutes pose low threat as soil active herbicides continue to remain effective on weed control.
  • Competitive rivalry: Intense competition exists between major players.

SWOT Analysis:-

  • Strength: Soil active herbicides effectively control weeds for an extended period and does not require frequent application. They provide cost-effective weed management.
  • Weakness: Soil active herbicides require proper application technique and timing for effective weed control. Overdose may harm crops.
  • Opportunity: Growing need for weed management in agriculture and preference for chemical herbicides over manual weeding creates demand. Development of new formulae expands product offerings.
  • Threats: Stringent regulations on herbicide usage and residue limits in food crops pose challenges. Environmental concerns over herbicide run-off restricts market growth.

Key Takeaways:-

The Global Soil Active Herbicides Market Growth is expected to witness high, exhibiting CAGR of 4.2% over the forecast period, due to increasing demand for agricultural production to meet the rising global food demand. North America dominates the soil active herbicides market currently due to large agricultural land and growth in adoption of advanced farming techniques. The Asia Pacific region is expected to grow at the fastest rate due to the rise in agriculture activities and increasing awareness about soil active herbicides benefits.

Key players operating in the soil active herbicides market are Bayer Crop Science, BASF Agricultural, Syngenta, DuPont, ADAMA, Arysta LifeScience, Nufarm, Nissan Chemical, and Binnong Technology.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it