Herbicides Market Outlook 2023: Share, Trends, Report 2028

How Big is the Herbicides Market?

The global herbicides market size reached US$ 31.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.06% during 2023-2028.

What are Herbicides?

Herbicides are chemical substances specifically designed to control or eliminate unwanted plant growth. They are formulated using various chemical compounds, each with specific modes of action. They can be organic or synthetic and are carefully selected to target particular types of weeds while minimizing harm to desirable plants. They are available in various forms, including liquid concentrates, granules, and aerosols. They support effective weed control, which helps maintain the health and productivity of crops, gardens, and landscapes by reducing competition for nutrients, water, and sunlight. They contribute to higher crop yields and better-quality produce, improving food production and agricultural profitability. They can replace or reduce the need for labor-intensive manual weed removal, saving time and reducing labor costs for farmers and gardeners. They are widely used in reforestation projects and forest management to control unwanted vegetation that can hinder the growth of newly planted trees. They are also employed in maintaining lawns, gardens, and ornamental landscapes to prevent weed infestations and maintain aesthetic appeal.

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What are the growth prospects and trends in the herbicides industry?

The increasing global population and the escalating demand for food and agricultural products represent one of the key factors facilitating the market growth. Apart from this, the rising utilization of herbicides in managing aquatic weeds in several waterbodies, such as lakes and ponds, is strengthening the growth of the market.

Furthermore, the expanding applications of herbicides in non-agricultural settings like industrial sites, railways, and roadsides to control vegetation are positively influencing the market. Moreover, technological advancements in herbicide formulations are leading to more precise and efficient weed control. The development of selective herbicides, which target specific types of weeds without damaging desirable crops, is augmenting the market growth.

Besides this, the increasing concerns about the ecological impact of chemical pesticides are catalyzing the demand for eco-friendly and bio-based herbicides. In addition, the governing authorities of several countries are implementing stringent environmental regulations and safety standards to promote the use of herbicides.

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Report Segmentation:

The report has segmented the market into the following categories:

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

Some of the Top Key players in the Smart Agriculture 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

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