Herbicides Market Report, Analysis Trends and Forecast to 2022-27
According to the global herbicides market report by IMARC Group, the market reached a value of US$ 30.32 Billion in 2021, and it is projected to reach a value of US$ 39.34 Billion by 2027, exhibiting a CAGR of 4.20% during 2022-2027.
Herbicides are used to destroy unwanted vegetation or inhibit plant growth that may interfere with the development and yield of desired crops. They are highly effective on parasitic and perennial weeds and closely planted crops corresponding to mechanical and manual weeding. They are mainly categorized into contact herbicides and translocated herbicides. In addition, they are safe on erodible and sloppy lands where tillage may promote soil and water erosions. Herbicides also offer various advantages, such as cost-effectiveness, easy application, high efficiency, early and timely planting of crops, and less loss of moisture and nutrients from the soil. As a result, they find extensive applications in the agricultural, residential, and industrial sectors.
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Herbicides Market Trends and Drivers:
The market is primarily driven by the expanding agricultural sector and the increasing utilization of herbicides to improve agricultural productivity, to meet food requirements across the globe.
This can be attributed to the rising population and the growing disposable income of individuals. In addition, the escalating demand for bio-based herbicides, which control glyphosate-tolerant crops using the existing spraying technology, is providing a positive thrust to the market growth.
Besides this, leading market players are investing in research and development (R&D) activities to develop new herbicides, which represents another major growth-inducing factor. Furthermore, governments of numerous countries are undertaking initiatives to educate farmers about the concentration of herbicides used in the soil, which is also propelling market growth.
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Global Herbicides Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Herbicides Companies:
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:
· Synthetic
o Glyphosate
o Atrazine
o 2,4-Dichlorophenoxyacetic Acid
o Acetochlor
o Paraquat
o Others
· Bio-Herbicides
Breakup by Mode of Action:
· Selective Herbicides
· Non-Selective Herbicides
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.
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