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Herbicides Market Report 2024: Strategies And Recent Developments | Adama Agricultural Solutions Ltd., BASF SE, Bayer AG, DuPont de Nemours Inc., FMC Corporation
Herbicides Market Size
The Business Research Company offers in-depth market insights through Herbicides Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to global population growth, weed resistance management, precision agriculture, organic and sustainable farming. Major trends in the forecast period include sustainable weed management, precision application technologies, biological herbicides, organic and non-gmo herbicides.
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Market Segmentation:
The main types of herbicides are synthetic and bio-based. Synthetic herbicides can affect plant disease through a variety of mechanisms. They can promote illness or protect plants against diseases through direct actions on the microbe, indirect effects on the plant, or combined effects on both species. The mode of action in herbicides is selective and non-selective and is used in grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and turf and ornamentals.
Major Driver - Population Growth Driving Herbicides Market Expansion
The world population is growing and is expected to reach 10 billion by 2050, which is expected to significantly boost the herbicide market during the forecast period. An increase in the population creates more demand for food. Crop production, farming activities, and trade volumes will have to increase to meet the increased population. Additionally, farmers and commercial farming companies will increase acquisitions of arable land to increase crop production, and this is expected to increase the demand for herbicides and boost market growth.
Competitive Landscape:
Major companies operating in the herbicides market include Adama Agricultural Solutions Ltd., BASF SE, Bayer AG, DuPont de Nemours Inc., FMC Corporation, Nufarm Limited, Syngenta AG, Dow Chemical Company, Monsanto Company, Element Solutions Inc., Nissan Chemical Corporation, Drexel Chemical Co. Inc., Sumitomo Chemical Co. Ltd., Wilbur-Ellis Holdings Inc., Upl Limited, Heranba Industries Ltd., Nufarm Ltd., AMVAC Chemical Corp., Albaugh LLC, Cheminova A/S, Chemtura Corporation, Gowan Company LLC, Isagro SPA, Marrone Bio Innovations Inc., Rotam CropSciences Ltd., Sipcam Agro USA Inc., Valent USA LLC, Willowood USA LLC, Zhejiang Xinan Chemical Industrial Group Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Shandong Weifang Rainbow Chemical Co. Ltd.
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Top Trend - Increased Mergers And Acquisitions Reshaping The Herbicides Market
The herbicides market has registered a significant increase in mergers and acquisitions over the last 5 years. Such collaborations are mainly aimed at expanding the product range or distribution networks. This can also be attributed to low food commodity prices, which affect pesticide manufacturers and distributors, leading to industry consolidation. For instance, in May 2021, AMVAC Chemical Corporation, a US-based crop protection products firm acquired the Envoke brand herbicide from a Swiss agrichemical company Syngenta Crop Protection for an undisclosed sum. The acquisition adds another portfolio to AMVAC and enables it to offer unique solutions to control weeds. Envoke is an herbicide that controls various weeds in cotton, sugarcane, and transplanted tomatoes.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Herbicides Market Characteristics
3. Herbicides Market Trends And Strategies
4. Herbicides Market - Macro Economic Scenario
5. Herbicides Market Size And Growth
…..
27. Herbicides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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