(MENAFN- EIN Presswire)
SEATTLE, WA, UNITED STATES, December 7, 2021 /EINPresswire.com / -- 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).
Market Overview:
Soil Active Herbicides are substances applied on pre-planting. Soil active herbicides act on the roots, seeds, and shoots of the plant and help control the growth of unwanted plants and weeds. Active herbicides are applied to the above ground portion of the plants and are absorbed by the exposed tissue, leaves, stems, etc. Herbicide dissolved in the soil water moves into seeds or seedlings as these structures absorb water from the soil, thus absorption is a passive process. Soil active herbicides are used to control weeds without damaging crops. Herbicide application occurs most frequently in row-crop farming, where they are applied before or during planting to maximize crop productivity by minimizing other vegetation. Scientists are using advanced biotechnology to develop crop varieties and to increase the tolerance for herbicides.
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Competitive Landscape:
Major players operating in the global soil active herbicides market are BASF SE, Bayer AG, FMC Corporation, Nufarm Limited, ADAMA Ltd., Syngenta AG, DuPont de Nemours, Inc., Nissan Chemical Industries Ltd., Arysta LifeScience Corporation, and Shandong Binnong Technology Co. Ltd., among others.
Key Market Drivers:
Increasing use of soil active herbicides in agriculture is expected to propel growth of the soil active herbicides market over the forecast period. For instance, in February 2021, BASF added Onecide P to its portfolio of herbicides to offer soybean growers/farmers holistic solutions for systematic weed control. Onecide P is a selective foliar herbicide, contains active ingredient fluazifop-P, which provides excellent control of annual and perennial grass weeds.
Moreover, increasing demand for food due to increasing population worldwide is expected to augment the growth of the soil active herbicides market. Herbicides are essential pest control compounds for efficient growth of food crops and other plants. For instance, according to the Food and Agriculture Organization (FAO), the world population of 9.1 billion people in 2050 would require raising overall food production by some 70% between 2005/07 and 2050.
COVID-19 Impact Analysis:
The COVID-19 pandemic has severely affected the growth of almost every industry, including the agriculture industry. The pandemic has also affected the supply chains. This led to a decline in the production and demand for soil active herbicides. However, the agriculture was the only sector to clock a positive growth during the first wave of the pandemic. This in turn is expected to increase the demand for soil active herbicides, driving the growth of the market.
Key Takeaways:
•The soil active herbicides market is expected to exhibit a CAGR of 4.7 % during the forecast period due to the rise in production of cereals and grains worldwide. For instance, in May 2021, Bayer announced the launch of a new herbicide to help soybean farmers battle problem weeds such as water-hemp and Palmer amaranth. The herbicide will also serve as a new weed control tool for corn growers.
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•Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the soil active herbicides market due to the increasing demand for food, rise in production of cereals and grains, increasing use of herbicides, and increasing adoption of better farming practices in the regions. For instance, in October 2020, Corteva AgriScience launched Kyber herbicide, a preemergence soybean herbicide with three effective modes of action, including a Group 15 active ingredient. Moreover, in November 2019, BASF received the Australian Pesticides and Veterinary Medicines Authority (APVMA) approval to introduce new herbicide Luximax to Australian farmers.
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