IMARC Group’s latest report, titled “Herbicides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global herbicides market size reached US$ 31.7 Billion in 2022. Herbicides refer to a broad class of pesticides used to kill or inhibit the growth of unwanted plants, such as residential or agricultural weeds, grasses, and invasive species, that may compromise the growth and yield of desired crops. They are safe on sloppy, erodible lands where tillage may accelerate soil and water erosion. Compared to mechanical and manual weeding, they are highly effective on perennial and parasitic weeds and closely planted crops. They are commonly available in two variants, namely selective and non-selective. Selective herbicides control the growth of specific weed species and leave the desired crop unharmed, whereas non-selective variants remove all plants that come into contact. In recent years, herbicides have gained immense traction as they offer high efficiency, ease of application, cost-effectiveness, timely planting of crops, and minimum loss of nutrients and moisture from the soil while saving labor costs.
Global Herbicides Market Trends:
The escalating food demand across the globe has led to the widespread use of herbicides to boost agricultural productivity by removing unwanted weeds and herbs during the plantation. This, along with the rapid expansion in the agrochemicals industry, represents the primary factor driving the market growth. Moreover, the growing utilization of non-selective herbicides to clear industrial and construction sites and railway ridges has augmented the product demand. Additionally, governments of various countries are taking favorable initiatives to educate farmers about the concentration of herbicides to use in the soil. In line with this, the rising adoption of modern farming practices to improve crop yield in less crop-cultivable land owing to a labor shortage has propelled market growth. Furthermore, there has been an increase in the demand for alternative methods of weed control or sustainable solutions due to the growing awareness regarding the harmful effects of synthetic herbicides on the environment and surging health concerns among the masses. Along with this, the rising preferences for bio-based herbicides that help control glyphosate-tolerant crops by leveraging the existing spraying technology is positively influencing the market growth. Other factors, including the declining arable land, increasing instances of pest outbreaks, continual product innovations, and heavy investments in research and development (R&D) activities by key players, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 40.8 Billion by 2028, growing at a CAGR of 4.06% during 2023-2028.
- Based on the type, the market has been bifurcated into synthetic (Glyphosate, Atrazine, 2,4-Dichlorophenoxyacetic Acid, Acetochlor, Paraquat, and others) and bio-herbicides.
- On the basis of the mode of action, the market has been classified as selective and non-selective herbicides.
- The market has been segregated based on the application into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and turfs and ornamentals.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being BASF SE, Bayer AG, Corteva Inc., Drexel Chemical Co. Inc., FMC Corporation, Heranba Industries Ltd., Nissan Chemical Corporation, Nufarm, Sumitomo Chemical Co. Ltd., Syngenta Group, UPL Limited, and Wilbur-Ellis Company LLC.
|Base Year of the Analysis
||Type, Mode of Action, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BASF SE, Bayer AG, Corteva Inc., Drexel Chemical Co. Inc., FMC Corporation, Heranba Industries Ltd., Nissan Chemical Corporation, Nufarm, Sumitomo Chemical Co. Ltd., Syngenta Group, UPL Limited and Wilbur-Ellis Company LLC
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