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How Rapidly is the Soil Active Herbicides Market Forecasted to Grow Between 2024 and 2033?

The market size of soil active herbicides has experienced robust growth in the past few years. The market is projected to expand from $6.84 billion in 2023 to $7.29 billion in 2024, with a compound annual growth rate (CAGR) of 6.5%. The significant growth observed in the historic period can be credited to the intensification of agricultural activities, the expansion of commercial farming, global population increase, efficiency and affordability, governmental support towards agriculture, rise in tolerance of crops towards herbicides, demand for crops with high yields, and initiatives to lower environmental harm.

In the coming years, robust expansion is anticipated in the soil active herbicide market, which is projected to reach $9.21 billion in 2028, with a compound annual growth rate (CAGR) of 6.0%. The predicted growth during this period can be credited to factors such as the escalating global demand for food, a shift towards organic farming methods, governmental rules concerning herbicide usage, heightened agricultural research investment, development of herbicide-resistant crops, consumer preference for clean label products, competitive market and product distinction. The forecasted period will be shaped by key trends including the incorporation of digital farming techniques, innovative formulation, integrated weed control, research on modes of action, resistance management education, market consolidation and mergers, as well as organic and bio-based substitutes.

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What Factors Are Behind the Rapid Growth of the soil active herbicides Market?

The escalation of the global populace coupled with a shift in dietary inclinations towards green-food consumption is predicted to stimulate the advancements in the market for soil-active herbicides. The swelling of the population can be attributed to factors such as an uneven ratio between births and deaths, inadequate family planning, and migration, among others. Plant-based food is exclusively procured from plants and contains no dairy or meat products. Developed as well as developing nations have residents who are increasingly attentive about their health, thereby integrating plant-based food into their daily diet. As population increases, the necessity for more food production rises, leading to an elevated use of herbicides and other organic or synthetic fertilisers that provide a greater yield. For example, the United Nations (UN), based in the US, anticipates that the world population will ascend to 8.5 billion by the year 2030, and then to 9.7 billion by 2050. Furthermore, a 2020 report by Bloomberg Intelligence, a US-based enterprise delivering business and financial information, news, and expert insights, recorded that plant-based dairy and meat sales surpassed $29 billion, and are anticipated to elevate to $162 billion by 2030. Accordingly, the rapid growth in population and shift towards plant-based diets will stimulate the expansion of the soil-active herbicides market.

What Key Segments Can Be Identified in the Soil Active Herbicides Market?

The soil active herbicides market covered in this report is segmented –

1) By Product Type: Synthetic Herbicides, Bio-Herbicides

2) By Crop: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Crops

3) By Application: Pre-Plant, Pre-Emergence, Post-Emergence

What Emerging Patterns Are Redefining the Soil Active Herbicides Market?

One of the primary trends rising in prominence within the soil-active herbicides market is product innovation. Major market players are directing their resources towards research and development for innovative products to provide extra advantages and to enhance crop yield, thereby promoting their competitive standing in the market. An instance of this was demonstrated by Summit Agro, a Japanese firm that specialises in formulating, creating, and promoting plant protective items, which launched “Gemmit Top” in August 2021. This novel herbicide, which includes 48% flumioxazin and is part of the PPOs (protoporphyrinogen oxidase inhibitors) class, offers superior broadleaf weed management and grass suppression. It also presents notable soil residuality, foliar control of small broadleaf weeds, broad leaf species regulation, and suppressive effects on grasses. The low water solubility ensures the product remains in the soil even during rainfall while providing improved stability in the blend, culminating in better productivity overall.

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Which Geographical Regions Are Shaping the Soil Active Herbicides Market Growth?

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 Soil Active Herbicides Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the soil active herbicides market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Soil Active Herbicides Market Include

1. Soil Active Herbicides Market Executive Summary

2. Soil Active Herbicides Market Segments

3. Soil Active Herbicides Market Size And Template Market Growth Rate

4. Key Soil Active Herbicides Market Trends

5. Major Soil Active Herbicides Market Drivers

……

25. Key Mergers And Acquisitions In The Soil Active Herbicides Market

26. Top Soil Active Herbicides Companies

27. Soil Active Herbicides Market Opportunities And Strategies

28. Soil Active Herbicides Market, Conclusions And Recommendations

29. Appendix

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