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Herbicides Market Revenue Report with Forecast to 2034
The global herbicides market is estimated to reach over USD 93.75 billion by 2034, exhibiting a CAGR of 7.9% during the forecast period.
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Herbicides are a key category of pesticides used in crop protection to improve agricultural productivity by effectively managing and suppressing weed growth in cultivated areas. The appropriate application of herbicides enhances both the quality and volume of crop yields, thereby supporting overall farming efficiency. Growth in the global herbicide market is primarily driven by rising global food demand and increasing awareness among farmers of the advantages associated with pre-emergence and post-emergence herbicide applications.
Additionally, the growing adoption of integrated pest management (IPM) strategies and the use of advanced agricultural practices are contributing to market expansion. However, the introduction of stringent regulatory measures restricting the use of certain herbicide products in developed economies presents a challenge to market growth. As the global population continues to increase, demand for food is rising, leading to the expansion of agricultural production, the adoption of improved farming techniques, and growth in agricultural trade volumes worldwide.
List of Prominent Players in the Herbicides Market:
• UPL
• BASF SF
• Bayer AG
• DUPont
• ADAMA
• Syngenta
• FMC Corporation
• Drexel Corporation
• Sumitomo Chemical Co., Ltd
• Nufarm
Market Dynamics:
Drivers-
Global demand for herbicides is rising due to changing monsoon patterns and the increasing requirement for diversified crop production. This growing demand is expected to support the expansion of agricultural outputs, particularly grains and cereals, across global markets. One of the key factors driving herbicide adoption is the decline in arable land availability caused by climate change, which necessitates more efficient crop protection solutions.
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Challenges:
The global herbicides market is projected to witness moderate growth during the forecast period, largely due to rising concerns regarding environmental pollution. Issues related to soil degradation, contamination of drinking water sources, and air quality deterioration resulting from herbicide usage remain significant constraints. Additionally, the presence of chemical residues and the potential health risks associated with specific active ingredients continue to limit broader market adoption.
Regional Trends:
North America is expected to capture a considerable share of global herbicide market revenue and is projected to register a strong compound annual growth rate (CAGR) in the near term. This growth is primarily driven by the increasing need to enhance agricultural productivity to support a growing population, with herbicides playing a critical role in managing weeds and unwanted vegetation. Rapid population growth and stable economic conditions further support market expansion in the region.
The Asia-Pacific (APAC) region also represents a significant portion of the global herbicides market, with major contributions from countries such as China and India. Market growth in APAC is anticipated to accelerate due to expanding emerging economies, rising disposable incomes, and continuous advancements in agricultural modernization and farming technologies.
Recent Developments:
• In May 2021-For an undisclosed fee, US-based AMVAC Chemical Corporation purchased the Envoke brand herbicide from Swiss agrichemical company Syngenta Crop Protection. With the addition of the new portfolio, AMVAC can now provide customers with cutting-edge weed management options. Envoke's herbicide manages weeds in cotton, sugarcane, and transplanted tomatoes.
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Segmentation of Herbicides Market-
By Type
• Synthetic
• Bio-Based
By Application Outlook
• Pulses & Oilseeds
• Grains & Cereals
• Commercial Crops
• Fruits & Vegetables
• Turf & Ornamentals
• Others
By Mode of Action Outlook
• Selective
• Non-selective
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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