April 17, 2024
Soil Active Herbicides Market

The Soil Active Herbicides Market is shifting towards Precision Agriculture practices

The soil active herbicides market includes products such as selective and non-selective herbicides that are applied directly to soil to control weeds. Soil active herbicides are widely used in agricultural activities such as farming, crop production, and horticulture to improve crop yield. They are effective in killing weeds through various mechanisms without causing harm to crops. The increasing need to maximize agricultural output and reduce manual labor has significantly driven the demand for soil active herbicides over the years.

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 2031.

Key Takeaways

Key players operating in the soil active herbicides market 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 widespread adoption of precision agriculture and digitization of the agriculture sector has increased Soil Active Herbicides Market Demand. Technologies such as GPS, GIS, and drones help farmers and agricultural workers to selectively spray herbicides only on weed-infested areas, minimizing pesticide usage and maximizing crop protection. With increasing global population and rising demand for food, more emphasis is being given to boost crop yield through sustainable farming practices, propelling the soil active herbicides market. Several market players are focusing on expanding their geographical footprint to other regions by strengthening their distribution networks and launching new products tailored for diverse soil and climatic conditions.

The growing global population has increased the demand for food, propelling extensive agricultural activities and subsequently driving the soil active herbicides market. The market is expected to grow further during the forecast period owing to factors such as implementation of advanced farming technologies, focus on sustainability, shift towards organic farming, and support from government & private organizations to increase crop production. Significant investments in agricultural research & development and new product launches with novel formulations and delivery systems will also augment the market expansion. However, stringent regulations regarding pesticide use and increasing awareness about environmental protection may hamper market growth to some extent over the coming years.

Market Key Trends

One of the key trends gaining traction in the Soil Active Herbicides Market is the growing adoption of precision agriculture practices. Precision agriculture employs modern technologies and principles of agricultural science to optimize crop yield while minimizing production costs and environmental impact. It facilitates site-specific soil and crop management through techniques such as variable-rate technology, GPS-guided section control, and automated steering systems. Variable dosing of soil active herbicides based on geographical conditions prevents over-application and reduces pesticide waste. Precision agriculture helps farmers to effectively address weed pressure, maximize profits, and sustainably manage agricultural lands. The trend is expected to continue in the foreseeable future with further technological advancements in digitization and automation.

Porter’s Analysis

  • Threat of new entrants: Herbicides require registration and large investments in R&D which acts as a barrier.
  • Bargaining power of buyers: Buyers have high bargaining power given the availability of substitutes.
  • Bargaining power of suppliers: A few multinational companies dominate production so suppliers have moderate bargaining power.
  • Threat of new substitutes: Alternatives like mechanical weeding are a threat.
  • Competitive rivalry: Intense competition exists among key players to introduce new formulations.

Geographical Regions

North America accounts for the largest share in the global soil active herbicides market in terms of value due to large agriculture operations and mechanized farming. The United States dominates demand driven by corn and soybean cultivation. Asia Pacific is the fastest growing regional market led by China, India and Southeast Asian countries. Rising usage of pesticides to boost crop yields amid a growing population is spurring sales growth in the region.

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