In 2023, the import volume of herbicides, anti-sprouting products, and plant growth regulators to Saudi Arabia stood at approximately 0.9 million kilograms. Over the past decade, the import volume has shown a steep decline, particularly from 2015 onwards. Recent year-on-year variations highlight significant decreases in 2022 and 2023, with reductions of 12.75% and 14.32% respectively. The five-year compound annual growth rate (CAGR) leading up to 2023 reflected an average decline of 7.08% per year.
Forecasted data from 2024 onwards suggest a sustained downward trend, with the import volume expected to continue shrinking significantly. Future projections for the next five years indicate an average annual decline of 31.08%, amounting to an overall reduction of 84.45% by 2028 compared to 2023.
Trends to watch for:
- Shifts in agricultural policies and subsidies in Saudi Arabia.
- Technological advancements in local crop protection methods.
- Market responses to climate change and its impact on agriculture.
- Potential changes in global supply chain dynamics affecting import volumes.
