Herbicides Market

Market Overview:

The global herbicides market size reached US$ 33.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 45.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032. The increasing global population, the widespread adoption of modern farming practices, ongoing R&D for innovative solutions, and the rising demand for food production are some of the major factors propelling the market.

Herbicides are specialized chemical substances used to control and eliminate unwanted vegetation or weeds in agricultural and non-agricultural settings. They are designed to disrupt the growth and reproduction processes of plants, leading to their controlled removal. Herbicides come in various formulations, including liquid sprays and granules, and can be applied through different methods such as spraying, injecting, or spreading. Their continuous development aims to improve efficiency and minimize environmental impact, with ongoing research focusing on developing safer and more targeted herbicidal solutions. Herbicides play a crucial role in modern agriculture, landscaping, and land management practices, ensuring optimal crop yield and maintaining aesthetically pleasing environments.

The rising global population has resulted in an increased demand for food production, which has led to expanded agricultural activities, primarily driving the market growth. Besides this, herbicides play a vital role in weed control, enabling farmers to protect their crops and enhance overall yields, which is creating a favorable outlook for market expansion. Moreover, the expanding adoption of modern farming practices, such as no-till and minimum-till farming, necessitating the use of herbicides to manage weeds efficiently without extensive soil disturbance is contributing to the market's growth. In addition to this, the growing awareness about the economic benefits of using herbicides, such as reduced labor costs and improved productivity, is acting as another significant growth-inducing factor. Furthermore, the ongoing research and development (R&D) efforts by industry players to introduce innovative and environment-friendly herbicides with higher efficacy are presenting lucrative opportunities for market expansion.

Herbicides Market Trends/Drivers:

Increasing global population and food demand

The world's population continues to rise, leading to a greater demand for food production. As a result, agricultural activities are expanding to meet this growing demand. Herbicides play a critical role in modern agriculture by providing an effective means of weed control. Moreover, weeds compete with crops for resources such as water, nutrients, and sunlight, reducing overall yields. Herbicides help farmers manage weed infestations and maintain the health and productivity of their crops. By preventing weed growth, herbicides contribute to higher crop yields, guaranteeing an adequate food supply for the population.

Expanding adoption of modern farming practices

The agriculture industry is witnessing a shift towards modern farming practices, such as no-till and minimum-till farming. These practices aim to reduce soil disturbance and erosion while enhancing soil health and productivity. However, they also create a favorable environment for weeds to thrive. Herbicides are essential tools in these practices, as they provide targeted and efficient weed control without the need for extensive soil tillage. By enabling farmers to embrace these sustainable farming methods, herbicides contribute to preserving soil structure and reducing environmental impact.

Research and development of innovative herbicides

Manufacturers in the herbicides industry are continuously investing in R&D to create innovative and more effective products. These efforts focus on developing herbicides with higher efficacy and specificity, targeting specific weed types while minimizing harm to desirable plants and the environment. In addition to this, the introduction of herbicide-resistant crop varieties has also spurred the development of new herbicides, allowing farmers to combat weed resistance effectively. As new formulations with improved safety and environmental profiles emerge, the global herbicides market continues to grow as farmers seek out advanced solutions to their weed management challenges.

Herbicides Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global herbicides market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, mode of action and application.

Breakup by Type:

• Synthetic
  • Glyphosate
  • Atrazine
  • 2,4-Dichlorophenoxyacetic Acid
  • Acetochlor
  • Paraquat
  • Others
• Bio-Herbicides
   

Synthetic dominates the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes synthetic (glyphosate, atrazine, 2,4-dichlorophenoxyacetic acid, acetochlor, paraquat, and others) and bio-herbicides. According to the report, synthetic represented the largest segment.

The demand for synthetic herbicides is primarily propelled by their proven effectiveness in managing weed infestations in various agricultural and non-agricultural settings. Synthetic herbicides offer a wide spectrum of weed control and have been extensively tested and optimized for the efficient eradication of unwanted plants. Their broad range of applications caters to diverse cropping systems, including genetically modified crops and specialty crops, providing impetus to the market growth. Moreover, the ease of application and quick results make synthetic herbicides an attractive choice for farmers seeking time-saving and cost-effective weed management solutions. In addition to this, the ability of synthetic herbicides to address weed resistance issues by introducing new active ingredients and formulations is presenting remunerative growth opportunities for market expansion.

Breakup by Mode of Action:

• Selective Herbicides
• Non-Selective Herbicides
   

Selective herbicides hold the largest share in the market

A detailed breakup and analysis of the market based on the mode of action has also been provided in the report. This includes selective herbicides and non-selective herbicides. According to the report, selective herbicides accounted for the largest market share.

The demand for selective herbicides is primarily propelled by their ability to effectively target and control specific weed species while sparing desirable crops and plants. Selective herbicides offer a tailored approach to weed management, allowing farmers to address weed infestations without causing harm to their cultivated crops. This targeted weed control is particularly valuable in situations where various weed species coexist, and precision is crucial to maintaining crop health and maximizing yields. Furthermore, by minimizing damage to non-target plants, selective herbicides contribute to sustainable farming practices and reduce environmental impact. Moreover, their application in non-agricultural settings, such as lawns, parks, and golf courses, enhances aesthetics and maintains desired vegetation without compromising surrounding flora. As awareness of environmental concerns grows, the demand for selective herbicides is expected to rise, with manufacturers continuously developing new and more efficient formulations to meet the specific weed management needs of farmers and landscapers alike.

Breakup by Application:

• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Fruits and Vegetables
• Turf and Ornamentals
   

Grains and cereals dominate the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and turf and ornamentals. According to the report, grains and cereals represented the largest segment.

The use of herbicides on cereals and grains is primarily propelled by the need to effectively manage weed competition, enhance crop yields, and ensure food security. Weeds compete with cereals and grains for essential resources such as sunlight, water, and nutrients, leading to yield losses and reduced crop quality. Additionally, herbicides provide a crucial solution by efficiently controlling weed infestations and suppressing their growth, thereby minimizing their negative impact on crops. As cereals and grains are staple food sources worldwide, the successful application of herbicides plays a vital role in sustaining agricultural productivity and meeting the rising demand for food. Additionally, herbicides enable farmers to implement modern farming practices, including no-till and reduced tillage, which help preserve soil health and prevent erosion while effectively managing weed populations.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia-Pacific exhibits a clear dominance, accounting for the largest herbicides market share

The report has also provided a comprehensive analysis of all the major regional markets, which include 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. According to the report, Asia-Pacific accounted for the largest market share.

The increasing adoption of genetically modified crops, such as herbicide-resistant varieties in North America, drives the need for compatible herbicides to effectively manage weed challenges. Additionally, the growing emphasis on precision agriculture and sustainable farming practices encourages the use of herbicides to optimize weed control while minimizing environmental impact. Furthermore, the shift towards organic and sustainable agriculture in Europe creates a demand for herbicides with reduced toxicity and eco-friendly profiles, promoting the development of innovative formulations. Apart from this, the expansion of the agricultural sector in the Asia Pacific, driven by population growth and changing dietary patterns, necessitates efficient weed management to boost crop yields. The rising awareness of herbicides' role in achieving food security and the continuous introduction of advanced herbicide solutions tailored to regional crop and weed patterns further contribute to the increasing demand across these regions.

Competitive Landscape:

The global herbicides market features a highly competitive landscape with numerous key players vying for market share. Established multinational agrochemical companies possess extensive R&D capabilities, enabling them to continuously innovate and introduce new herbicide formulations with enhanced efficacy and safety profiles. Additionally, strategic collaborations, mergers, and acquisitions are common approaches adopted by these players to expand their product portfolios and geographical presence. The market also sees the participation of regional and local manufacturers, who cater to specific crop and weed management needs in their respective areas. The competitive dynamics are further shaped by changing regulatory environments concerning herbicide usage and environmental concerns, pushing companies to focus on sustainable and eco-friendly solutions.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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
• Wilbur-Ellis Company LLC

Recent Developments:

• In July 2023, BASF and Zhejiang Guanghua Technology Co., Ltd. announced their collaboration for the supply of Neopentyl Glycol (NPG) from BASF’s Zhanjiang Verbund site to KHUA.
• In March 2023, Corteva Agriscience announced the commercial launch of Adavelt Active, a novel fungicide with a new mode of action that protects against a wide range of diseases that can impact crop yields.
• In Feb 2023, ForGround by Bayer announced its collaboration with Great Plains Ag, Sound Agriculture, and EarthOptics to expand its regenerative Ag platform and provide additional benefits to farmers.

Herbicides Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the herbicides market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global herbicides market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the herbicides industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.