Global Herbicides Market Size, Share, and COVID-19 Impact Analysis, By Category (Synthetic Herbicides, Bioherbicides), By Mode of Action (Non-Selective, Selective), By Crop Type (Pulses & Oilseeds, Cereals & Grains, Fruits & Vegetables, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Industry: Agriculture

RELEASE DATE Mar 2024
REPORT ID SI3939
PAGES 200
REPORT FORMAT PathSoft

Global Herbicides Market Insights Forecasts to 2033

  • The Global Herbicides Market Size was Valued at USD 33.39 Billion in 2023
  • The Market Size is Growing at a CAGR of 5.80% from 2023 to 2033
  • The Worldwide Herbicides Market Size is Expected to Reach USD 58.70 Billion by 2033
  • North America is expected to Grow the fastest during the forecast period

 

Global Herbicides Market

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The Global Herbicides Market Size is Anticipated to Exceed USD 58.70 Billion by 2033, Growing at a CAGR of 5.80% from 2023 to 2033.

 

Market Overview

Herbicides are a type of sustainable agricultural product that kills unwanted plants without harming the plantation, hence boosting agricultural output. Herbicides for a single plantation are frequently altered based on plant hormones to ensure the plantation's safety. It is a specific category for pesticides used to control unwanted plants during cultivation. Herbicides are sometimes called weedkillers. Herbicides are classified into two types: selective and nonselective herbicides. Selective herbicides control specific weed species while leaving the desired crop unaffected, but non-selective herbicides can be used to clear industrial and construction sites, railways, and railway ridges by killing all plant material with which they come into contact. The aim of using herbicides is to boost agricultural production by killing undesired herbs and weeds in the field. As a result, the increase in need for high agricultural productivity to meet global food demands is driving the expansion of the herbicides market. Increased demand for higher crop yields, quick adoption of better farming techniques, new agricultural technologies, and a lack of fertile land are the primary market drivers driving market expansion. The sector is also developing due to the several benefits of herbicides over tillage, such as reduced erosion, greenhouse gas emissions, fuel consumption, and nutrient runoff.

 

Report Coverage

This research report categorizes the market for the global herbicides market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global herbicides market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global herbicides market.

 

Global Herbicides Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 33.39 Billion
Forecast Period:2023 - 2033
Forecast Period CAGR 2023 - 2033 :5.80%
2033 Value Projection:USD 58.70 Billion
Historical Data for:2019 - 2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Category, By Mode of Action, By Crop Type, and By Region.
Companies covered::Sumitomo Chemical CO., LTD, BAYER AG, Wilbur-Ellis Holdings, INC, Kenvos Bio, Element Solutions Inc, DOWDUPONT, Nissan Chemical Corporation, Monsanto Company, FMC Corporation, ADAMA Agricultural Solutions LTD, PI Industries, Syngenta, Drexel Chemical Company, BASF SE, NUFARM Limited, and Others
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

Continuous innovations in herbicide technologies promote global herbicide market growth during the forecast period. The growing global population necessitates increased demand for food production, requiring herbicides to control weeds and maximize crop yields. Modern farming practices, including mechanization and genetically modified crops, necessitate herbicide use to manage weed growth and reduce labor costs. The growing need to improve agricultural yield due to rising food demand is a major driver of the global herbicides market. Herbicides offer potential applications in suppressing or eliminating a wide range of weeds while also promoting the active growth of desired plants. Herbicides have an important function in improving plant nutrition and preventing soil erosion, which increases their demand. The global population continues to rise, resulting in a greater demand for food production. The focus is on enhancing the adoption of modern farming practices and the development of innovative herbicides. Hence, these factors are significant growth of the global herbicides market during the forecast period.

 

Restraining Factors

The adoption of sustainable and responsible weed management approaches can be hindered by limited awareness and education about proper herbicide use, integrated weed management practices, and alternative control methods. Regulatory requirements for herbicides ensure safety and efficacy, but lengthy and costly registration processes can delay product launches and limit market innovation. Hence, these factors may hamper the market growth of the global herbicides market during the forecast period.

 

Market Segmentation

The global herbicides market share is classified into category, mode of action, and crop type.

 

  • The synthetic herbicides segment is expected to hold the largest share of the global herbicides market during the forecast period.

Based on the category, the global herbicides market is divided into synthetic herbicides, bioherbicides. Among these, the synthetic herbicides segment is expected to hold the largest share of the global herbicides market during the forecast period. The segmental growth can be attributed the principally driven by their proven efficiency in managing weed infestations in many agricultural and non-agricultural environments. Synthetic herbicides offer a broad range of weed control options and have been extensively studied and enhanced for the effective eradication of undesired plants.

 

  • The non-selective segment is expected to hold the largest share of the global herbicides market during the forecast period.   

Based on the mode of action, the global herbicides market is divided into non-selective and selective. Among these, the non-selective segment is expected to hold the largest share of the global herbicides market during the forecast period. The growth can be attributable to the non-selective herbicides are designed to kill both broadleaf and grass weeds, they can be used on a wide range of vegetation and are better alternatives to selective herbicides. it has sustainable agriculture involves minimizing soil erosion and reducing the need for mechanical tillage and human weeding.

 

  • The cereals & grains segment is expected to hold the largest share of the global herbicides market during the forecast period.

Based on the crop type, the global herbicides market is divided into pulses & oilseeds, cereals & grains, fruits & vegetables, and others. Among these, the cereals & grains is expected to hold the largest share of the global herbicides market during the forecast period. The segmental growth can be attributed to the cereal & grains need to effectively control weed competition, increase agricultural yields, and assure food security.

 

Regional Segment Analysis of the Global Herbicides Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • Latin America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia-Pacific is anticipated to hold the largest share of the global herbicides market over the predicted timeframe.

 

Global Herbicides Market

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Asia-Pacific is anticipated to hold the largest share of the global herbicides market over the predicted timeframe. The global herbicides market in terms of both production and consumption and this trend is projected to continue in the near future. Herbicides market growth in this region is impacted by improved farming techniques, increasing population, limited land availability, the presence of favorable government laws, and technical advances. Agriculture for food security and economic development fuels the demand for herbicides to ensure high crop yields and weed control. Reducing food grain waste products, combined with ideal agricultural productivity, is primary driver of market expansion. The increasing demand for organic food and a decrease in chemical-based pesticides is reducing the use of herbicides in crops, impacting food perspectives.

 

North America is expected to grow at the fastest pace in the global herbicides market during the forecast period. The growing use of genetically modified crops in North America necessitates the development of effective herbicides for successful weed management, promoting precision agriculture and sustainable practices. The trend of early technological adoption in developed nations extends to herbicide use in grass and forests, as well as beyond agricultural fields.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global herbicides market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and swot analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of overall competition within the market.

 

List of Key Companies

  • Sumitomo Chemical CO., LTD
  • BAYER AG
  • Wilbur-Ellis Holdings, INC
  • Kenvos Bio
  • Element Solutions Inc
  • DOWDUPONT
  • Nissan Chemical Corporation
  • Monsanto Company
  • FMC Corporation
  • ADAMA Agricultural Solutions LTD
  • PI Industries
  • Syngenta
  • Drexel Chemical Company
  • BASF SE
  • NUFARM Limited
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In March 2022, Sipcam, Albaugh, and Australian grain technologies (AGT) formed a three-way strategic alliance to offer the CoAXium production system to australian barley producers. This agreement will bring together key components of the CoAXium production system, including the non-GMO herbicide tolerance trait, aggressive brand herbicides, elite barley germplasm, and industry stewardship.

 

  • In January 2022, Syngenta Canada Inc. publicized the release of ErebusTM Xtreme. This new cross-spectrum cereal herbicide combines active ingredients from groups 2 and 4 for improved grass and broadleaf weed control. Erebus Xtreme is a liquid pre-mix formulation of pyroxsulam (Group 2) and fluroxypyr (Group 4) for spring, winter, and durum wheat.

 

  • In May 2022, ADAMA LTD, which are premium pre-seed and post-emergent herbicide that controls weeds in soybean and other crops, provides valuable benefits to the farmer due to its unique formulation and long residual effect.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global herbicides market based on the below-mentioned segments: 

 

Global Herbicides Market, By Category

  • Synthetic Herbicides
  • Bioherbicides

 

Global Herbicides Market, By Mode of Action

  • Non-Selective
  • Selective

 

Global Herbicides Market, By Crop Type

  • Pulses & Oilseeds
  • Cereals & Grains
  • Fruits & Vegetables
  • Others

 

Global Herbicides Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1. What is the market size of the global herbicides market?
    The global herbicides market is expected to grow from USD 33.39 Billion in 2023 to USD 58.70 Billion by 2033, at a CAGR of 5.80% during the forecast period 2023-2033.
  • 2. Who are the key market players of the global herbicides market?
    Some of the key market players of the market are Sumitomo Chemical CO., LTD., BAYER AG, Wilbur-Ellis Holdings, INC., Kenvos Bio, Element Solutions Inc., DOWDUPONT, Nissan Chemical Corporation, Monsanto Company, FMC Corporation, ADAMA Agricultural Solutions LTD., PI Industries, Syngenta, Drexel Chemical Company, BASF SE, NUFARM Limited, Others.
  • 4. Which region is dominating the global herbicides market?
    Asia-Pacific is dominating the global herbicides market with the highest market share.

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