Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 3.7% (2024-2032)

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.

 

Factors Affecting the Growth of the Herbicides Industry:

  • Increasing Global Population and Food Demand:

The growth of the herbicides industry is primarily driven by the rising global population, which increases the demand for food production. The pressure on agricultural productivity is intensifying as farmers and agricultural businesses are required to maximize crop yields to meet the rising food demands. Herbicides play a vital role in this by effectively controlling weeds, which compete with crops for nutrients, water, and sunlight. By minimizing weed competition, herbicides ensure that crops can thrive and achieve optimal yields. This is particularly important in regions with limited arable land, where maximizing the output of existing farmland is essential, thereby propelling industry growth. 

  • Technological Advancements in Herbicide Formulations:

Advancements in herbicide formulations and application technologies are significantly contributing to the growth of the herbicides industry. Modern herbicides are developed to be more effective at lower doses, reducing the environmental impact while maintaining efficacy in weed control. Innovations such as selective herbicides, which target specific weed species without harming crops, have gained popularity among farmers seeking sustainable agricultural practices. Additionally, advancements in application technology, such as precision spraying and drone-based application, have made herbicide use more efficient, reducing waste, ensuring more uniform coverage, and facilitating overall market expansion. 

  • Rising Adoption of Herbicide-Resistant Crops:

The increasing adoption of herbicide-resistant genetically modified (GM) crops is significantly influencing the herbicides industry. Herbicide-resistant crops are engineered to tolerate specific herbicides, allowing farmers to apply these chemicals to control weeds without damaging the crops themselves. This has led to increased herbicide usage, as it provides a more convenient and effective weed management solution. Additionally, as more countries approve and adopt GM crops to improve agricultural productivity and food security, the herbicides industry is expected to see substantial growth, propelled by the need for compatible herbicides that can maximize the benefits of these crops.

For an in-depth analysis, you can request a sample copy of the report: https://www.imarcgroup.com/herbicides-market/requestsample

 

Leading Companies Operating in the Global Herbicides Market

  • 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

 

Herbicides Market Report Segmentation:

By Type:

·         Synthetic

o    Glyphosate

o    Atrazine

o    2,4-Dichlorophenoxyacetic Acid

o    Acetochlor

o    Paraquat

o    Others

·         Bio-Herbicides

Synthetic holds the maximum number of market shares due to its cost-effectiveness and efficacy. 

By Mode of Action:

  • Selective Herbicides
  • Non-Selective Herbicides

Selective herbicides dominate the market as they are designed to target specific types of weeds without harming the crops.

By Application:

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

Grains and cereals account for the largest market share due to the global requirement for maximizing crop yields and effectively managing weed resistance, particularly in major agricultural regions.

Regional Insights:



  • 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's dominance in the herbicides market is attributed to the extensive agricultural activities in the region, particularly in populous countries such as China and India. 

Global Herbicides Market Trends:

The herbicides industry is significantly influenced by the increasing awareness and adoption of sustainable farming practices. With rising environmental concerns, there is a shift toward integrated weed management (IWM) strategies that combine chemical and non-chemical methods to control weeds. This approach emphasizes the judicious use of herbicides, focusing on minimizing resistance and reducing environmental impact. Consequently, herbicide manufacturers are responding by developing eco-friendly products with lower toxicity and shorter environmental persistence. Additionally, government policies and regulations promoting sustainable agriculture are encouraging the use of less harmful herbicides, propelling innovation and development in this sector. The expanding organic farming industry also impacts herbicide growth, as there is a need for bio-based herbicides suitable for organic certification. Furthermore, the rising incidences of herbicide resistance in weeds are prompting increased research and development (R&D) efforts in new modes of action, contributing to the growth of the herbicides market by offering more effective solutions. 

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

 

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

 

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