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Herbicides Global Market Report 2024 - By Growth, Demand, Key Factors, Forecast To 2033
The Business Research Company's Herbicides Global Market Report 2023 rising outbreaks of pests as the major driver for the Herbicides market's growth in the forecast period. A pest outbreak refers to the sudden and widespread increase in the population of harmful organisms such as insects, rodents, or other pests that can negatively impact crops, livestock, or the environment, often leading to damage or economic losses. Farmers may then turn to herbicides to control both the pests and the weeds simultaneously, thus boosting the demand for herbicides in agriculture.
The herbicides market size has grown rapidly in recent years. It will grow from $40.16 billion in 2023 to $45.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to conventional agriculture, increase in cropland, glyphosate introduction, genetically modified crops. The herbicides market size is expected to see rapid growth in the next few years. It will grow to $72.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
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Major competitors in the Herbicides market are Adama Agricultural Solutions Ltd., BASF SE, Bayer AG, DuPont de Nemours Inc., FMC Corporation.
A key trend in the Herbicides market includes herbicides to gain a competitive edge in the marketFor instance, in March 2022, Clariant AG, a Switzerland-based chemical company launched ADJUWEX, designed to facilitate the customization of effective glufosinate herbicide formulations for specific agricultural conditions and requirements. As farmers face increasing challenges related to weed control and regrowth, Clariant's ADJUWEX offers tailored solutions to optimize glufosinate formulations, addressing factors such as climate, soil, crop type, and application conditions. ADJUWEX also accommodates modern application methods like drone technology and has undergone extensive trials in various crops globally, promoting precision farming practices.
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The Herbicides market is segmented -
• By Type: Synthetic, Bio-Based
• By Mode Of Action: Selective, Non-selective
• By Application: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Herbicides market.
The Business Research Company's "Global Herbicides Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Herbicides Market Include:
1. Executive Summary
2. Herbicides Market Characteristics
3. Herbicides Market Trends And Strategies
4. Herbicides Market - Macro Economic Scenario
5. Global Herbicides Market Size and Growth
............
31. Global Herbicides Market Competitive Benchmarking
32. Global Herbicides Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Herbicides Market
34. Herbicides Market Future Outlook and Potential Analysis
35. Appendix
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