Soil Active Herbicides Global Market Report 2024

The global soil active herbicides market 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 historical growth in soil active herbicides can be attributed to several factors such as agricultural intensification, the expansion of commercial farming practices, global population growth, the pursuit of efficient and cost-effective farming methods, government backing for agricultural initiatives, the rise of herbicide-tolerant crops, the demand for high-yielding crop varieties, and endeavors aimed at minimizing environmental impact.

The global soil active herbicides market 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 anticipated growth in the upcoming period can be attributed to several factors, including the escalating global food demand, a shift towards organic farming methods, stricter government regulations concerning herbicide use, amplified investment in agricultural research, the evolution of herbicide-resistant crops, a consumer-driven demand for clean-label products, market competitiveness fostering product differentiation. Notable trends expected in this period encompass the integration of digital farming solutions, advancements in formulation innovations, emphasis on integrated weed management, increased research on the mode of action, educational initiatives for resistance management, market consolidation and mergers, and the emergence of organic and bio-based alternatives.

The soil-active herbicides market is anticipated to witness growth driven by factors such as the expanding global population and evolving dietary preferences favoring plant-based foods. Population growth, attributed to factors like imbalances in birth and death rates, migration, and a lack of family planning, is contributing to increased demand for food production. With a rising awareness of health and a shift towards plant-based diets, the use of herbicides and fertilizers - both natural and chemical - is increasing to enhance agricultural yield. According to the United Nations, the global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050. Furthermore, plant-based dairy and meat sales, valued at over $29 billion in 2020, are projected to surge to $162 billion by 2030, as reported by Bloomberg Intelligence. Consequently, the soil-active herbicides market is poised to benefit from these demographic and dietary shifts.

The soil-active herbicide market is set to witness growth due to the escalating demand for fruit and vegetable production. The cultivation, harvesting, and distribution of fresh produce, including quality control, align with the increasing market demand for fruits and vegetables. Soil-active herbicides play a crucial role in efficiently controlling weed growth, allowing crops to flourish and yield higher outputs. Additionally, they contribute to preventing the spread of diseases and pests that can adversely affect crop health. Statistics Canada reported a notable 13.1% increase in farm-gate sales of fruits and vegetables, reaching $3 billion from 2021 to 2022. Fruit and vegetable sales grew by 15.3% and 11.2%, respectively, with the overall production reaching 3.5 billion kg in 2022. This surge in demand for fruit and vegetable production is a significant driver for the soil-active herbicide market.

A prominent trend in the soil-active herbicides market is the emphasis on product innovation by major industry players. Companies are investing in research and development to introduce innovative herbicides that offer additional benefits, enhance yield, and maintain a competitive edge in the market. For instance, Summit Agro, a Japan-based firm specializing in plant protection products, introduced 'Gemmit Top' in August 2021. This herbicide, based on 48% flumioxazin and classified as a PPO (protoporphyrinogen oxidase) inhibitor, stands out for its exceptional broadleaf weed control and grass suppression capabilities. The product's low water solubility ensures it remains in the soil even during rain, providing greater stability in the mixture. Overall, these advancements contribute to better productivity and underscore the importance of innovation in the soil-active herbicides market.

Prominent companies in the soil-active herbicide market are prioritizing product innovation as a strategic approach to gain a competitive edge and enhance overall market presence. Notably, Corteva Agriscience, a leading US-based agricultural chemical company, introduced Novixid herbicide in December 2022. Novixid, designed for post-emergence application, serves as a selective herbicide for the control of susceptible grass, sedge, and broadleaf weeds in rice cultivation. The unique formulation of Novixid incorporates Rinskor Active, a key component recognized for its efficacy in weed management and its potential to prevent resistance emergence. Noteworthy is Novixid's positive ecotoxicology and toxicological profile, aligning with environmentally friendly practices and promoting soil health. This distinctive herbicide, adaptable to various conditions and water management settings, exemplifies Corteva Agriscience's commitment to offering innovative solutions for weed control in rice fields.

In a significant industry development, China National Chemical Corp (ChemChina) and Sinochem, both prominent entities in the agrochemicals and chemicals sectors in China, respectively, merged in May 2021 to form a global chemicals producer. While the specific financial details of the transaction remain undisclosed, this strategic merger positions the newly formed entity as a formidable player in herbicides, chemicals, and related product segments. The synergy created by this collaboration strengthens the product portfolio of the merged entity, fostering a competitive advantage not only in the Chinese market but also on the global stage. This strategic move reflects the companies' commitment to consolidating their strengths and capabilities to navigate the evolving landscape of herbicides and chemical products, establishing a robust position in both domestic and international markets.

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

Asia-Pacific was the largest region in the soil active herbicides market share in 2023. The regions covered in the soil active herbicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the soil active herbicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are two primary categories of soil active herbicides such as synthetic herbicides and bio-herbicides. Synthetic herbicides are chemically engineered to imitate plant hormones, affecting cell growth, development, and tropism. They possess the capacity to influence plant disease through various mechanisms. These herbicides find application across cereals, grains, oilseeds, pulses, fruits, vegetables, and other crops, serving in pre-plant, pre-emergence, and post-emergence uses.

This report provides soil active herbicides market statistics, including soil active herbicides industry global market size, regional shares, competitors with a soil active herbicides market share, detailed soil active herbicides market segments, market trends and opportunities, and any further data you may need to thrive in the soil active herbicides industry. This soil active herbicides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The soil active herbicides market consists of sales of several herbicide formulations with high control activity and their persistence in soil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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