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Herbicides Market Analysis: $58.48 Billion by 2029 With a CAGR of 7.2%
Herbicides
Herbicides Market Value Projection: How Much Will the Market Size by 2025?
The market size of herbicides has seen a robust expansion in the past few years. An increase is anticipated from $41.51 billion in 2024 to $44.29 billion in 2025, registering a compound annual growth rate (CAGR) of 6.7%. The historic growth period is credited to elements such as traditional farming methods, expansion in crop lands, the introduction of glyphosate, and the emergence of genetically modified crops.
What Will Be the Market Growth Forecat for Herbicides in 2029?
In the upcoming years, the market for herbicides is predicted to experience robust growth, reaching $58.48 billion in 2029 using a compound annual growth rate (CAGR) of 7.2%. This increase over the forecast period is largely due to factors such as the growth in world population, management of weed resistance, precision farming, and organic and sustainable agriculture practices. Key trends for this period include sustainable methods of managing weeds, precise application technologies, biological herbicides, and organic, non-genetically modified organism herbicides.
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What Are the Core Competitive Drivers in the Herbicides Industry?
As the global population continues to expand, with estimates suggesting it will hit 10 billion by 2050, experts predict a corresponding surge in the herbicide market during that time. This population growth will drive a heightened demand for food, necessitating an uptick in crop yields, farming operations, and trade volumes. Moreover, farmers and corporate farming entities are likely to acquire additional fertile lands to augment crop output, subsequently propelling a greater need for herbicides and stimulating market expansion.
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Which Herbicides Market Segment Is Projected to See the Fastest Growth?
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
Subsegments:
1) By Synthetic: Selective Herbicides, Non-Selective Herbicides, Pre-Emergent Herbicides, Post-Emergent Herbicides
2) By Bio-Based: Natural Herbicides, Bioherbicides
Which Trends Are Opening New Opportunities in the Herbicides Market?
Leading businesses in the herbicide market are innovating new herbicides for a competitive advantage. In an example from March 2022, Switzerland's chemical firm Clariant AG launched ADJUWEX, a product engineered to enable the personalization of efficient glufosinate herbicide formulas for distinct agricultural conditions and needs. With farmers dealing with rising issues around weed control and regrowth, Clariant's ADJUWEX provides bespoke solutions to enhance glufosinate recipes, taking into account factors such as weather, soil, type of crop, and condition of application. ADJUWEX is also compatible with contemporary application methods like drone technology, and it has passed thorough tests in various crops worldwide, thereby encouraging accuracy in farming methods.
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Who Are the Leaders in the Herbicides Market?
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.
Which Regional Herbicides Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the herbicides market in 2024. South America was the second-largest region in the global herbicides market. The regions covered in the herbicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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