The weed control market is estimated to be valued at US$ 30.33 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Weed control refers to controlling unwanted vegetation or weeds in agricultural fields, landscapes, lawn and gardens. The key products used for weed control include herbicides, mechanical weed removal equipment and other organic methods. Herbicides are widely used for both pre-emergence and post-emergence weed control in various agricultural crops like cereals & grains, oilseeds & pulses, fruits & vegetables and others.
Market Dynamics:
The weed control market is driven by the increasing adoption of herbicides for weed management in agricultural fields. Herbicides provide effective and convenient weed control. They are used to effectively control weeds to increase crop yield. Furthermore, labor shortage in the agricultural sector is also increasing dependency on herbicides for weed control. Around 60-70% of agricultural lands worldwide use herbicides for weed management.
Another key driver is the rising demand for organic and sustainable weed management solutions. Pressure from regulatory bodies and consumers to reduce the use of synthetic chemicals is propelling the demand for alternative organic and bio-based herbicides. Companies are investing in research and development of novel weed control technologies including herbicidal biologically active compounds, allelochemicals and other organic solutions. This is expected to offer lucrative growth opportunities for organic and sustainable weed control products over the forecast period.
SWOT Analysis
Strength:
- Three sentence explanation: The weed control market has several effective chemical and mechanical control methods that target many common weed species. Many products have multi-year regulatory approvals based on extensive safety testing. Leading companies make significant investments in R&D to develop new innovative weed control solutions.
Weakness:
- Two weakness in three sentence explanation: Stricter regulatory standards globally have led to banning of certain highly effective but toxic herbicide formulations. Increased consumer preference for organic farming methods that does not use synthetic chemicals.
Opportunity:
- Two opportunity in three sentence explanation: Developing countries in Asia Pacific and Latin America are expected to increase agricultural production and require greater use of weed control methods. Emerging alternatives such as bioherbicides offer new opportunities for more environmentally-friendly solutions.
Threats:
- Two threats two sentence explanation: Rising environmental activism and public scrutiny has led to increased regulatory pressures on use of agrochemicals. Climate change is causing weed species to evolve and develop resistance to existing control solutions more rapidly.
Key Takeaways
The global weed control market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing agricultural production globally to meet rising food demand. Major crops grown worldwide such as corn, soybean and wheat are highly susceptible to yield losses from weed competition, promoting greater spending on control measures.
Regional analysis
North America represents the largest market for weed control currently, however Asia Pacific is poised to surpass all regions in terms of market value growth through 2030. This can be attributed to increasing usage of agrochemicals in countries like India and China where agricultural mechanization is progressing rapidly. Latin America is another high potential region experiencing extensive adoption of herbicides for soybean and sugarcane.
Key players
Key players operating in the weed control market are Bayer AG, BASF SE, Syngenta AG, Corteva Agriscience, FMC Corporation, Nufarm Limited, Dow AgroSciences, UPL Limited, Adama Agricultural Solutions, AMVAC Chemical Corporation, Valent U.S.A., Isagro S.p.A., Marrone Bio Innovations, Albaugh LLC, and Drexel Chemical Company. Leading companies focus on launching pre-emergent as well as post-emergent herbicides targeting grasses and broadleaf weeds. Collaboration with farmers and distributors are key strategies to promote new product offerings.
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