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The global herbicides market was valued at US$ 30.32 Billion in 2021.
We expect the global herbicides market to exhibit a CAGR of 4.20% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary halt in numerous harvesting activities and shortage of skilled labor, thereby negatively impacting the global market for herbicides.
The rising awareness towards numerous benefits of herbicides, such as high efficiency, easy application, early and timely planting of crops, etc., for improving agricultural productivity during the plantation, is primarily driving the global herbicides market.
Based on the type, the global herbicides market can be segmented into synthetic and bio-herbicides. Currently, synthetic holds the majority of the total market share.
Based on the mode of action, the global herbicides market has been divided into selective herbicides and non-selective herbicides, where selective herbicides currently exhibit a clear dominance in the market.
Based on the application, the global herbicides market can be categorized into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and turf and ornamentals. Among these, grains and cereals account for the majority of the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global herbicides market include BASF SE, Bayer AG, Corteva Inc., Drexel Chemical Company, FMC Corporation, Heranba Industries Ltd., Nissan Chemical Corporation, Nufarm, Sumitomo Chemical Co. Ltd., Syngenta Group (China National Chemical Corporation), UPL Limited, and Wilbur-Ellis Company LLC.
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