Overview and Scope
Herbicides, commonly known as ‘weed killers,’ are chemical substances used to control unwanted plants. The features of herbicides include selectivity, activity, mobility in soil, volatility, toxicity, and persistence in the environment.
Sizing and Forecast
The herbicides market size has grown rapidly in recent years. It will grow from $40.16 billion in 2023 to $45.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to conventional agriculture, increase in cropland, glyphosate introduction, genetically modified crops.
The herbicides market size is expected to see rapid growth in the next few years. It will grow to $72.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to global population growth, weed resistance management, precision agriculture, organic and sustainable farming. Major trends in the forecast period include sustainable weed management, precision application technologies, biological herbicides, organic and non-gmo herbicides.
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Segmentation & Regional Insights
The herbicides market covered in this report is segmented –
1) By Type: Synthetic, Bio-Based
2) By Mode Of Action: Selective, Non-selective
3) By Application: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals
Asia-Pacific was the largest region in the herbicides market in 2023. South America was the second-largest region in the global herbicides market. The regions covered in the herbicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the herbicide market during the forecast period. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, and this is expected to increase the demand for herbicides and boost market growth.
Key Industry Players
Major companies operating in the herbicides market include Adama Agricultural Solutions Ltd., BASF SE, Bayer AG, DuPont de Nemours Inc., FMC Corporation, Nufarm Limited, Syngenta AG, Dow Chemical Company, Monsanto Company, Element Solutions Inc., Nissan Chemical Corporation, Drexel Chemical Co. Inc., Sumitomo Chemical Co. Ltd., Wilbur-Ellis Holdings Inc., Upl Limited, Heranba Industries Ltd., Nufarm Ltd., AMVAC Chemical Corp., Albaugh LLC, Cheminova A/S, Chemtura Corporation, Gowan Company LLC, Isagro SPA, Marrone Bio Innovations Inc., Rotam CropSciences Ltd., Sipcam Agro USA Inc., Valent USA LLC, Willowood USA LLC, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Shandong Weifang Rainbow Chemical Co. Ltd.
The herbicides market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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