The latest research study “Herbicides Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global herbicides market reached a value of US$ 30.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 39.34 Billion by 2027, exhibiting a CAGR of 4.20% during 2022-2027.
What are the different herbicides?
Herbicides are chemical agents that inhibit the growth of unwanted plants, which interfere with the growth and yield of desired crops. They generally destroy residential and agricultural weeds and other invasive species. Herbicides improve agricultural productivity and save on labor costs by reducing the need for manual or mechanical weeding. They find efficient utilization on erodible and sloppy lands, which are at high risk of soil and water erosions due to tillage.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Herbicides Market Trends and Drivers:
The global herbicides market is primarily driven by the increasing demand for high agricultural productivity to meet the global food demand due to a surge in population. Herbicides offer high efficiency, easy application, cost-effectiveness, ensure early and timely planting of crops, and decrease the loss of nutrients and moisture from the soil.
Besides this, the expanding agrochemical industry and rising adoption of unconventional farming practices by farmers to increase the crop yield are also fueling the market growth. Nowadays, the growing awareness regarding the benefits of bio-based herbicides has resulted in extensive investment in research and development (R&D) activities to develop new herbicide variants.
Moreover, governments across various countries are taking initiatives to educate farmers about the concentration of herbicides used in the soil, which is anticipated to create a positive outlook for the market in the upcoming years.
|Herbicides Market Report Scope|
|Market size value in 2021||US$ 30.32 Billion|
|Market forecast in 2027||US$ 39.34 Billion|
|Growth Rate||CAGR of 4.20% from 2022 to 2027|
|Base year for estimation||2021|
Global Herbicides Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, type, mode of action and application.
Breakup by Type:
- 2,4-Dichlorophenoxyacetic Acid
Breakup by Mode of Action:
- Selective Herbicides
- Non-Selective Herbicides
Market Breakup by Application:
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Turf and Ornamentals
Breakup by Region:
- 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.