Herbicides Market Forecasts to 2028 – Global Analysis By Category (Bioherbicides, Synthetic Herbicides, Other Categories), Mode of Action (Fruits & Vegetables, Grains & Cereals, Grains & Cereals, Turf & Ornamentals, Commercial Crops, Pulses & Oilseeds, Ot

Herbicides Market Forecasts to 2028 – Global Analysis By Category (Bioherbicides, Synthetic Herbicides, Other Categories), Mode of Action (Fruits & Vegetables, Grains & Cereals, Grains & Cereals, Turf & Ornamentals, Commercial Crops, Pulses & Oilseeds, Other Applications) and Geography

According to Stratistics MRC, the Global Herbicides Market is accounted for $43.78 billion in 2022 and is expected to reach $70.44 billion by 2028 growing at a CAGR of 8.25% during the forecast period. Herbicides, also known as weed killers. They are pesticides that are used to control pests or unacceptable plants while causing no harm to the desired crop. Herbicides are plant protection chemical compounds classified as pesticides that aid crop growth by simply removing or trying to restrict the proliferation of weeds in the field.

Global wheat production as per UN’s Food and Agriculture Organization (FAO) 2019, amounts to an annual average of around 750 million tons. Moreover, according to FAO estimation, the world population will reach over 10 billion by 2050, implying that global demand for food and agricultural products would surge.

Market Dynamics:

Driver:

High Consumer Demand for Bio-based Formulations

A new trend has emerged a greater emphasis on R&D activities to develop newer herbicide formulations. This primarily entails the development of bio-based herbicides in response to the negative effects of chemical-based products on the environment and human health. Aside from that, the pressure on device manufacturers to improve herbicides that are resistant to weeds validates the continued demand for herbicides. As a result, the herbicides market profits.

Restraint:

Health risks to humans and pets

Although herbicides are useful, they can pose serious dangers to both humans and pets. If the ingredient is inhaled or ingested, it can cause stomach pain or skin irritation. Herbicides can be carried by rain or irrigation to unintended locations such as waterways. This can have serious consequences for amphibians, fish, and aquatic vegetation. Furthermore, prolonged use can contribute to weed resistance because the herbicide's energetic properties are no longer recognised by the weeds. These factors will impede the global herbicide market in the years to come.

Opportunity:

Extensive R&D Investments

Extensive research and development by product companies to develop innovative herbicides is likely to boost market share for any of these players. People who participated in the global herbicides market are focusing heavily on the advancement of bio-based herbicides in this direction. Large players have made significant expenditures to increase their product offerings. These players are particularly keen on developing bio-based herbicides to satisfy the increasing demand for organic but instead chemical-free agricultural produce. Aside from that, developing products that outperform competitors' products is a key growth strategic approach for leading competitors in the herbicides market.

Threat:

Usage of synthetic herbicides

The use of synthetic herbicides causes a variety of problems in both humans and animals. Herbicides are single or mixed substances that are employed to control, destroy, or repel weed growth. Because of the presence of harmful chemical substances in them, the majority of herbicides cause respiratory diseases, digestive disorders, and skin irritation. Exposure of workers to herbicides are so much more susceptible to contracting diseases are related to their respiratory system. The problems caused by synthetic herbicides in humans and animals limit the herbicide market's growth.

Covid-19 Impact

Under the drastic COVID-19 infectious disease situation prevailing around the world, numerous challenges including such work reinstatement delay or even manufacturing suspension, delayed logistics, raw material shortages, and restricted import and export activities face an unprecedented challenge to herbicide manufacturers globally. Notwithstanding, with accelerated pace interconnection in the growing and processing, which would include herbicides, large-scale manufacturers demonstrate great functionality in the face of the pandemic, particularly those that help bolster their own competitive nature and start producing upstream and downstream intermediates on their own, which is expected to boost market growth.

The Bioherbicides segment is expected to be the largest during the forecast period

The Bioherbicides segment is estimated to have a lucrative growth, due to Growing health and environmental concerns have raised public awareness of bio-based herbicides. Furthermore, weed management is critical for the agricultural sector, which has resulted in the continuous use of herbicides. However, long-term herbicide use ended up causing opposition, environmental contamination, impurities in crops, and environmental degradation, driving up demand for bio-based herbicides. Rising demand for 'green' products has resulted in the development of bio-herbicides made up of plant extracts, microorganisms phytotoxins, or phytopathogenic microorganisms that do not persist in the environment for long periods of time, resulting in less water and soil pollution.

The grains & cereals segment is expected to have the highest CAGR during the forecast period

The grains & cereals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the fact that grains and cereals are the most important source of nutrition throughout the known universe is a significant driver for the expansion of this segment. Growing population demand for grains and cereals is one of the factors driving revenue growth in the segment during the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing demands for herbicides in terms of production and consumption. It is one of the most populous countries in the Asia Pacific region, with rapid growth due to a working to develop agriculture sector, protected agriculture practises, following pressure of modern farming, and changes in farming practises. The emerging economies' GDP growth, combined with rising disposable income, drives the region's market growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to government policies that encourage the development of new, effective, and environmentally friendly herbicides are among the significant factors expected to influence market growth. Furthermore, the market is growing due to the rapid adoption of modern farming practises and integrated farming processes.

Key players in the market

Some of the key players profiled in the Herbicides Market include DuPont, Syngenta, Sumitomo Chemical Co., Ltd, Sipcam, BASF SE, Bayer AG, Nissan Chemical Industries Ltd, ADAMA Ltd., Platform Specialty Products Corporation, Sumitomo Chemical Co., Ltd., Heranba Industries Ltd. and Atanor SCA.

Key Developments:

In May 2022, ADAMA Ltd., which is one of the major leading crop protection companies, launched Cheval, a premium pre-seed and post emergent herbicide in Brazil for soybean and other crops. Cheval is expected to provide valuable benefits to the farmer owing to longer residual effect and unique formulation. Cheval is developed by T.O.V Formulation Technology, which improves efficacy of active ingredients. Two modes of Cheval, glufosinate and S-metolachlor, combines to prevent carryover weeds after burn down, as well as increasing residual effect. Cheval with same formulation is expected to launch in areas of Africa, Latin & Central America, Asia Pacific, and North America.

In May 2022, Sipcam, Albaugh and Australian Grain Technologies (AGT) entered into a strategic three-way partnership to bring CoAXium Production System to Australian barley producers. This partnership is expected to combine key elements of CoAXium Production System, non-GMO herbicide tolerance trait, aggressor brand herbicides, elite barley germplasm, and industry stewardship. This partnership represents Albaugh’s Innovation Platform, which focuses on strategic partnerships to deliver novel and unique technologies.

September 2020, BASF acquired proprietary Glu-L technology for L-glufosinate ammonium from AgriMetis, which is an industry leader in development of biotechnological innovations for crop protection. Combined with BASF Agricultural Solutions, this technology would offer an efficient product to protect unwanted weeds with an improved formulation.

In March 2019, Atanor SCA launched a new formulation plant in Argentina for TRAC 90 WG. This new production plant posse’s immense potential to meet the market demand as well as exports.

Categories Covered:
• Bioherbicides
• Synthetic Herbicides
• Other Categories

Mode of Actions Covered:
• Non Selective
• Selective
• Other Mode of Actions

Applications Covered:
• Fruits & Vegetables
• Grains & Cereals
• Turf & Ornamentals
• Commercial Crops
• Pulses & Oilseeds
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements