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Herbicide Safeners Market Enroute to USD 2.9 Billion Valuation, Sporting a 7.60% CAGR by 2032?

Jan 22, 2024 5:40 PM ET

Herbicide Safeners Market Enroute to USD 2.9 Billion Valuation, Sporting a 7.60% CAGR by 2032?

Herbicide Safeners Market Forecast

Global Herbicide Safeners Market size is projected to be valued at USD 2.9 Billion by 2032 at a CAGR of 7.60% between 2023 and 2032.

Herbicide safeners are basically chemicals that increase the tolerance of cereals plants to herbicides without affecting the weed control effectiveness. With the use of safeners, difficult weed control problems can be addressed.

The continuous rise in demand for crops to fulfill the needs of the rising population is resulting in an increased demand for herbicides. Trace amounts of herbicides and pesticides are often present in the end product consumed. This is influencing the increased demand for safeners in herbicides among the manufacturers. The growth of the agriculture sector in developing nations and increasing cereals production is boosting the sales of Herbicide Safeners Market. players are emphasizing product launches, partnerships, acquisitions, and expansions to meet the increasing market demand.

Growth Opportunities in the Market

Rising cereals & grains production: Among all the crops, cereals & grains are the most consumed and account for the largest portion of the agricultural land worldwide. Also, the increasing demand for plant-based food has further boosted the demand for cereals & grains in food processing industries. Thus, with the continuous rise in the production of cereals & grains across the world, the demand for crop protectors such as herbicide safeners is expected to grow tremendously in the coming years.

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Growth of safener products in non-selective herbicides: Safeners are majorly applied in selective herbicides. However, growing demand for GM crops has opened doors for safeners in non-selective herbicides. Resistance to specific herbicide types is one of the key traits introduced into genetically modified organisms or GMOs.

Increasing availability of herbicide safener products: Herbicide safener is gradually evolving in the agricultural industry. Farmers in some of the developing and underdeveloped countries are unaware of the product. However, the increasing availability of herbicides in the market consisting of safeners is projected to drive the attention of consumers, which will uplift the market growth in the coming years.

Key Players,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).

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Market Outlook

The global herbicide safeners market is expected to grow at a CAGR of 7.60% from 2023 to 2032. The increasing demand for herbicide safeners to protect crops from herbicide-induced damage is expected to drive the market. The rising prevalence of herbicide-resistant weeds and the growing adoption of genetically modified (GM) crops are also expected to contribute to the market growth. The Asia Pacific region is expected to be the fastest-growing market, followed by North America and Europe

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