ID: MRFR/AGR/8938-HCR | February 2021 | Region: Global | 90 pages
Global Herbicide Safeners Market size is projected to reach approximately USD 2,435.2 Million by 2027, at a CAGR of 7.6% from 2020 to 2027. Herbicide safeners are a group of chemically diverse compounds with the unique ability to protect crop plants from injury by certain herbicides without impairing weed control efficacy. Chemical safeners is a practical, efficient and simple method of improving herbicide selectivity. This method has been applied successfully in cereal crops such as wheat, soybean, barley, maize, rice, and sorghum.
The demand for herbicide safeners is increasing at a tremendous rate with the rising demand for herbicides worldwide. Adequate application of herbicides in the field positively impacts crop growth, yield quality, and quantity of yield. Owing to its benefits in agriculture, there is an upsurge in demand for herbicides to fulfill the need of the increasing population. However, in addition to the benefits of herbicides, they can also be toxic to the environment and human beings. The application of herbicides may result in chemical residues that can be harmful for human consumption. Thus, safeners are added to herbicides to protect the crops from herbicide-related injury.
The COVID-19 outbreak has turned the lives of people across the globe, and its impact across the industries is different. The COVID-19 outbreak flipped the growth switch in every sector of the economy, and the agricultural industry is no exception. The COVID-19 pandemic has impacted the supply chain of herbicide safeners, as many countries are under lockdown and have sealed their borders to curb the spread of the virus. Strict containment measures imposed by governments of various countries and preventive measures to control the impact of the outbreak have led to a significant restriction in transportation. The COVID-19 impact on logistics has hampered the supply of raw materials, resulting in a shortfall in the production of the product. These factors are expected to result in a price hike of herbicide safeners in the short run.
Global Herbicide Safeners Market has witnessed high growth in recent years. The rising population followed by increasing concern for food security has increased the use of herbicides among the farmers leading to increased instances of herbicide-induced crop damage. This is driving the market growth of herbicide safeners. Looking to the need of the product, more and more manufacturers are incorporating safeners in their herbicide formulations. Product launches are expected to boost the market growth during the forecast period. In September 2018, HELM Agro US launched a line of Fearless- brand herbicides which are acetochlor-based weed control tools for corn. The rising adoption of contract farming, where companies provide significant agricultural inputs, is leading to product awareness and supporting product growth. However, a regulatory ban on certain herbicides in various regions may hamper the market growth during the review period.
Increasing instances of toxicity of herbicides on crops
By Application Stage
By Herbicide Selectivity
By Crop Type
|Market Size||USD 2,435.2 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application Stage, Herbicide Selectivity, and Crop Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DowDuPont Inc. (US), BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), Nufarm Limited (Australia), Adama Agricultural Solutions (Israel), Arysta LifeScience (US), Drexel Chemical Company (US), Land O’Lakes (US), Sipcam-Oxon Group (Italy), Helm AG (Germany), Tenkoz (US), UPL Limited (India)|
|Key Market Opportunities||The growth of the agriculture sector in developing nations and increasing cereals production is boosting the sales of herbicide safeners|
|Key Market Drivers||