Herbicides Market Forecasts to 2028 – Global Analysis By Formulation (Solid, Liquid), Type (Biological, Chemical/Synthetic), Application, End User, and By Geography

Herbicides Market Forecasts to 2028 – Global Analysis By Formulation (Solid, Liquid), Type (Biological, Chemical/Synthetic), Application, End User, and By Geography

According to Stratistics MRC, the Global Herbicides Market is accounted for $36.85 billion in 2021 and is expected to reach $64.18 billion by 2028 growing at a CAGR of 8.2% during the forecast period. Herbicides are a specific category of pesticides utilized to control unwanted plants during development. The utilization of herbicides in the field positively impacts crop development, yield quality, and quantity of yield. Herbicides will improve agricultural productivity by killing unwanted herbs and weeds on the plantation. Selective herbicides control specific weed species, leaving the desired crop unharmed, whereas non-selective herbicides can be utilized to clear industrial and construction sites, railways, and railway ridges as they kill all plant material with which they come into contact.

The ease of application is a big advantage of chemical herbicides over mechanical weed control, which often saves on labor costs. Moreover, to fulfill the rising demand for food from the growing population, enhancing crop production and crop yield has become essential. The scarcity of arable land creates a demand for efficient farming practices, utilizing every section of the farming plot, thereby propelling demand in the herbicide market. According to the Food and Agriculture Organization Corporate Statistical Database, the global area under arable land has decreased from 1,507,196.3 thousand hectares in 2017 to 1,502,820.5 thousand hectares in 2019.

Market Dynamics:

Driver:

Intensive farming techniques

Farmers globally are adopting intensive farming procedures to increase efficiency per hectare, driving the demand for herbicides. Intensive farming is an agricultural intensification and mechanization system that intends to maximize yields from available land through means such as the heavy utilization of pesticides and chemical fertilizers. These methods help to meet the rising need for food from the growing population and prevent food shortages. Intensive farming methods drive the demand for herbicides.

Restraint:

Hazardous effects

The chemical herbicides utilized in the weed control process don’t harm the plants and crop protection. Moreover, the ones in herbicides such as iron, sulfates, nitrates copper iron, and sodium arsenite are utilized as a spray or soil sterilant. These materials are proved hazardous and poisonous to animals and humans when they come in contact. This is creating a drain in the herbicide market for the vendors.

Opportunity:

Increasing importance of sustainable food production

The concept of bio-farming is effectively acquiring popularity as it depends on the utilization of organic and biofertilizers instead of the utilization of chemical fertilizers as well as the use of safe green pesticides and pesticides. By adopting sustainable practices, farmers decrease their dependence on non-renewable energy, lessen chemical use and save scarce resources. Keeping the land healthy and replenished can go a long way when considering the increasing population and demand for food. Food organizations are increasing their sustainable efforts, teaming up with their providers, and fine-tuning their business models, which, in turn, provide ample opportunities for market growth.

Threat:

Alternative techniques

The use of alternative techniques such as integrated pest management and crop rotation has decreased the utilization of pesticides in farms. IPM farms may develop pest-resistant crop varieties, utilize predatory insects to kill plant-eating pests, employ mechanical pest traps, and eliminate pest nesting areas by ploughing under harvested crops. Because of the increase in awareness of the effects caused by the utilization of pesticides, techniques such as these were implemented widely and are acting as a threat to the market’s growth.

The chemical/synthetic segment is expected to be the largest during the forecast period

The chemical/synthetic segment is estimated to have a lucrative growth owing to the improved efficiency in the utilization of pesticides. Decreasing cultivable land, increasing demand for food, increasing adoption of genetically modified (GM) crops, and acceptance of new farming practices are the factors driving the segment growth.

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

The cereals & grains segment is anticipated to witness the fastest CAGR growth during the forecast period due to the growing need to increase food security, along with the onset of climate change and the prospect of increased drought, which have played a significant role in increasing the use of herbicides in cereal cultivation. Various global organizations have launched programs to educate farmers on the utilization of pesticides in cereal cultivation.

Region with highest share:

South America is projected to hold the largest market share during the forecast period due to the presence of less stringent regulations in the region and the increasing penetration of market players in the regional market. South American countries mainly Argentina and Brazil have the largest production due to the increased farming of biofuel crops and the use of genetically modified crops.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the advancements in crop protection methods against weeds and increasing demand for low-priced generic herbicide formulations. Variation in the climatic condition in Asia-Pacific enables the production of a wide variety of crops which is likely to have a positive impact on the agricultural sector. The Asia Pacific is a prominent producer of wheat, rice, and vegetables. Hence, the requirement for pesticides is high in this region, and crop-based pesticides are expected to drive the herbicide market in the region.

Key players in the market

Some of the key players profiled in the Herbicides Market include The DOW Chemical Company, Syngenta AG, Platform Specialty Products Corporation, Nissan Chemical Industries Ltd., Monsanto Company, FMC Corporation, E.I. Du Pont De Nemours and Company, Drexel Chemical Company, BASF SE, Nufarm Limited and Corteva Agriscience.

Key Developments:

In Sep 2020, BASF SE acquired proprietary technology for L-glufosinate ammonium from AgriMetis. The company was acquired to develop highly-improved concentrated weed control products. This is likely to help strengthen the position of BASF SE in the herbicide market by developing new products for protection against weeds.

In March 2020, Corteva Agriscience collaborated with AgPlenus for the development of novel herbicides. The collaboration will combine Corteva's strengths in crop protection product discovery and development with AgPlenus' expertise in designing effective and sustainable herbicide products using predictive biology.

Formulations Covered:
• Solid
• Liquid

Types Covered:
• Biological
• Chemical/Synthetic

Time of Action Covered:
• Pre-Emergence
• Post-Emergence
• Pre Plant

Method of Applications Covered:
• Soil
• Foliar

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

Mode of Actions Covered:
• Trans Located (Systemic) Herbicide/Non-Selective
• Contact Herbicides/Selective

Applications Covered:
• Spraying
• Soil Treatment
• Dusting

Inhibitors Covered:
• Seedling Root Growth Inhibitor
• Pigment Inhibitor
• Nitrogen Metabolism Inhibitor
• Lipid Synthesis Inhibitor
• Growth Regulators
• Cell Membrane Disrupter
• Amino Acid Synthesis Inhibitors
• Photosynthesis Inhibitor

Molecular Natures Covered:
• Inorganic
• Organic

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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances