Herbicides

Herbicides

Global Herbicides Market to Reach US$67.8 Billion by 2030

The global market for Herbicides estimated at US$45.3 Billion in the year 2023, is expected to reach US$67.8 Billion by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030. Non-Selective Mode of Action, one of the segments analyzed in the report, is expected to record a 7.4% CAGR and reach US$43.6 Billion by the end of the analysis period. Growth in the Selective Mode of Action segment is estimated at 3.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$11.9 Billion While China is Forecast to Grow at 9.5% CAGR

The Herbicides market in the U.S. is estimated at US$11.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.3 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Global Herbicides Market - Key Trends and Drivers Summarized

Why Are Herbicides Essential for Modern Agriculture?

Herbicides play a vital role in modern agricultural practices by providing farmers with efficient and effective tools for weed control. As weeds compete with crops for water, nutrients, and sunlight, their presence can significantly reduce crop yields. Herbicides help mitigate this by selectively targeting and eliminating unwanted vegetation, thus ensuring optimal growth conditions for crops. They are widely used across various types of agriculture, including cereals, fruits, vegetables, and oilseeds. Herbicides also contribute to labor savings by reducing the need for manual or mechanical weeding, allowing for large-scale farming operations to run more efficiently. Given the global challenge of feeding a growing population, herbicides are essential in improving productivity and ensuring food security.

How Are Technological Advancements Shaping the Herbicides Market?

The herbicides market has experienced significant innovations, particularly in the development of herbicide-resistant crops and environmentally friendly formulations. The introduction of genetically modified (GM) crops that are resistant to specific herbicides, such as glyphosate, has allowed for more targeted weed control without damaging the main crops. Moreover, advancements in herbicide formulations have led to the creation of more efficient and less toxic chemicals, minimizing their environmental impact. There has been an increasing focus on developing bioherbicides, which are derived from natural sources like microbes and plants, as a response to rising environmental concerns. The application of precision agriculture technologies, which enable the precise application of herbicides based on real-time field data, has also improved the efficiency and effectiveness of herbicide usage.

How Do Market Segments Define the Growth of the Herbicides Market?

Product types include synthetic herbicides and bioherbicides, with synthetic herbicides dominating the market due to their widespread use and proven efficacy. Bioherbicides, however, are gaining momentum as the demand for organic and sustainable farming solutions grows. In terms of mode of action, herbicides are classified as selective or non-selective. Selective herbicides target specific weeds without affecting crops, while non-selective herbicides are used for total vegetation control in non-crop areas. The crop types where herbicides are most commonly applied include cereals, oilseeds, fruits, and vegetables. Cereals account for the largest share of the herbicides market due to their extensive cultivation across the globe, particularly in regions like North America, Asia-Pacific, and Europe.

What Factors Are Driving the Growth in the Herbicides Market?

The growth in the herbicides market is driven by several factors, including the increasing demand for higher agricultural productivity, rising global population, and the need for sustainable farming practices. As the global population continues to grow, the pressure on agricultural land to produce more food with limited resources has intensified, driving the need for effective weed management solutions. The expansion of genetically modified herbicide-resistant crops has also played a critical role in enhancing the use of herbicides. Environmental regulations promoting the development and adoption of bioherbicides have opened new growth opportunities, as consumers and governments push for more eco-friendly agricultural practices. Additionally, the increasing adoption of precision farming technologies is driving the demand for advanced herbicide formulations that can be applied with greater accuracy, reducing waste and environmental harm.

Select Competitors (Total 24 Featured) -

• Adama Ltd.
• BASF SE
• Bayer AG
• DOW Chemical Company
• Drexel Chemical Company
• E.I. Du Pont De Nemours and Company
• Elements Solutions, Inc.
• FMC Corporation
• Kenvos Bio
• Monsanto Company
• Nissan Chemical Industries Ltd.
• Nufarm Limited
• PI Industries
• Platform Specialty Products Corporation
• Syngenta AG

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