by The soil active herbicides market plays a key role in promoting sustainable agriculture practices worldwide. Soil active herbicides are applied directly to soil before or during crop sowing to control weeds. They provide effective and long-lasting weed control without harming crops and maintain soil health. Some key benefits of soil active herbicides include early season weed control, reduced soil disturbance and lower overall herbicide use.
The global soil active herbicides market is estimated to be valued at US$ 9841.66 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the soil active herbicides market size are GE Additive, Stratasys Ltd., Materialise N.V., EoS GmbH, Allevi, Inc., RegenHU, EnvisionTEC GmbH, 3D Systems, Inc., Nanoscribe GmbH, and GPI Prototype and Manufacturing Services, LLC. The growing consumer preference for organic and eco-friendly farming practices is fueling the demand for soil active herbicides globally. Major herbicide manufacturers are focusing on developing innovative soil applied herbicides to control a wide range of weeds. The soil active herbicides market is expanding rapidly in Asia Pacific and Latin American regions owing to the rising agricultural productivity in developing countries.
Market key trends
One of the key trends in the soil active herbicides market is the development of bio-based and degradable formulations. Many leading companies are investing in R&D to introduce bio-based and eco-friendly soil herbicides made from natural compounds that break down faster in soil. This helps reduce environmental pollution and promotes sustainable agriculture. Another major trend is the use of precision application technologies like GPS and sensors for optimal herbicide placement and dosage. Precisely applied soil herbicides allow farmers to maximize weed control and minimize product wastage. This is beneficial from both economic and environmental standpoints.
Porter’s Analysis
Threat of new entrants: Regulations regarding entry into agricultural chemicals market such as strict environmental compliances limit new companies from entering easily.
Bargaining power of buyers: Large buyers such as government agencies and international agrochemical giants have considerable power to negotiate prices and other terms of purchases.
Bargaining power of suppliers: Leading suppliers of active ingredients enjoy fair level of bargaining power given specialty chemicals required and proprietary technologies involved.
Threat of new substitutes: Adoption of alternative weed control methods like mechanical weeding provides some substitution threat. However, herbicides continue to be widely used globally.
Competitive rivalry: The soil active herbicides market is consolidated in nature with key players competing intensely on product price and quality.
Geographical Regions
North America accounts for the major share of the soil active herbicides market in terms of value. Easy availability of different herbicide formulations and growth in demand for higher crop yields drive the market in the region. Asia Pacific is projected to be the fastest growing regional market during the forecast period supported by expansion in agricultural activities across developing countries. Rapid population growth necessitates optimum utilization of arable land which spurs adoption of agrochemicals for ensuring food security in the region.
