New York, United States , April 03, 2024 (GLOBE NEWSWIRE) -- The Global Herbicides Market Size is to Grow from USD 33.39 Billion in 2023 to USD 58.70 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.80% during projected period.
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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.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "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.”
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The synthetic herbicides segment is anticipated to hold the greatest share of the global herbicides market during the projected timeframe.
On the basis of category, the global herbicides market is divided into synthetic herbicides, and bioherbicides. Among these, the synthetic herbicides segment is anticipated to hold the greatest share of the global herbicides market during the projected timeframe. The growth can be attributed to They are primarily motivated by their shown effectiveness in managing weed infestations in a wide range of agricultural and non-agricultural settings.
The non-selective segment is anticipated to hold the greatest share of the global herbicides market during the projected timeframe.
On the basis of mode of action, the global herbicides market is divided into non-selective and selective. Among these, the non-selective segment is anticipated to hold the greatest share of the global herbicides market during the projected timeframe. The segmental growth can be attributed to the non-selective herbicides 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.
The cereals & grains segment is predicted to hold the greatest share of the global herbicides market during the estimated period.
On the basis of crop type, the global herbicides market is divided into pulses & oilseeds, cereals & grains, fruits & vegetables, and others. Among these, the cereals & grains segment is predicted to hold the greatest share of the global herbicides market during the estimated period. The segmental growth can be attributed to cereal and grains must successfully manage weed competition, boost agricultural output, and provide food security.
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Asia-Pacific is expected to hold the largest share of the global herbicides market over the forecast period.
Asia-Pacific is expected to hold the largest share of the global herbicides market over the forecast period. The global herbicide market is growing in terms of both production and consumption, and this trend is expected to continue in the near future. Improved farming techniques, expanding population, restricted land availability, favourable government policies, and technological advancements all have an impact on the growth of the herbicides industry in this region. Agriculture for food security and economic development drives up the demand for herbicides to ensure high crop yields and weed control. Reducing food grain waste, together with optimal agricultural output, is the key driver of market growth. The growing demand for organic food, along with a decrease in chemical-based pesticides, is reducing herbicide use in crops, which has an impact on food perspectives.
North America is predicted to grow at the fastest pace in the global herbicides market during the projected timeframe. The region's growth can be attributed to the increased usage of genetically modified crops in North America needs the development of effective herbicides for successful weed management, hence boosting precision agriculture and sustainable practices. The pattern of early technical adoption in industrialized countries extends to pesticide use in grass and woods, as well as outside of agricultural fields.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global 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 the overall competition within the market. Major vendors in the global herbicides market include 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.
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Recent Developments
- 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.
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, Regional Analysis
- 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 the Middle East & Africa
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