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Herbicides Market: In-Depth Insights into Industry Growth, Emerging Trends, Technological Advancements, and Global Market Forecasts
Herbicides Market
As per the report, 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 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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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.
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 herbicides market covered in this report is segmented -
1) By Type: Synthetic, Bio-Based
2) By Mode Of Action: Selective, Non-selective
3) By Application: Grains And Cereals, Pulses And Oilseeds, Commercial Crops, Fruits And Vegetables, Turf And Ornamentals
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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.
Contents of the report:
1. Executive Summary
2. Herbicides Market Report Structure
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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