Herbicides Global Market Report 2024

“Herbicides Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on herbicides market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for herbicides? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The herbicides market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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
• Companies Mentioned: Adama Agricultural Solutions Ltd.; BASF SE; Bayer AG; DuPont de Nemours Inc.; FMC Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Herbicides, often referred to as 'weed killers,' are chemical substances utilized to manage and control unwanted plant growth. These herbicides possess various characteristics, including selectivity, activity, mobility in soil, volatility, toxicity, and persistence in the environment.

The primary categories of herbicides comprise synthetic and bio-based varieties. Synthetic herbicides exert influence on plant diseases through various mechanisms, either by promoting illness or safeguarding plants against diseases. This can occur through direct actions on the microbe, indirect effects on the plant, or a combination of both. Herbicides can be classified based on their mode of action as either selective or non-selective and are employed in the cultivation of grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, as well as in maintaining turf and ornamental plants.

The herbicides market research report is one of a series of new reports from The Business Research Company that provides herbicides market statistics, including global market size, regional shares, competitors with a herbicides market share, detailed herbicides market segments, market trends and opportunities, and any further data you may need to thrive in the herbicides industry. This herbicide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 expansion observed in the historical period can be attributed to factors such as the prevalence of conventional agriculture practices, the expansion of cropland, the introduction of glyphosate herbicides, and the adoption of 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 anticipated growth in the forecast period can be linked to several factors, including global population growth, efforts to manage weed resistance, the adoption of precision agriculture techniques, and the increasing emphasis on organic and sustainable farming practices. Notable trends expected during this period encompass the promotion of sustainable weed management, the integration of precision application technologies, the use of biological herbicides, and the demand for organic and non-GMO herbicides as part of the evolving landscape in herbicide usage.

The global population is on the rise and is projected to reach 10 billion by the year 2050, which is expected to have a significant impact on the herbicide market in the forecast period. With an increasing population, there is a growing demand for food. To meet this heightened demand, there will be a need for increased crop production, expanded farming activities, and greater trade volumes. In response, farmers and commercial farming enterprises are likely to acquire more arable land to boost crop production, which, in turn, will drive up the demand for herbicides, contributing to the growth of the herbicide market.

The herbicide market is expected to experience growth due to the rising occurrences of pest outbreaks. Pest outbreaks refer to sudden and widespread increases in the populations of harmful organisms, such as insects, rodents, or other pests, which can adversely affect crops, livestock, or the environment. These outbreaks often result in damage and economic losses. To combat both the pests and weeds simultaneously, farmers may resort to using herbicides, increasing the demand for herbicides in agriculture. For example, in June 2021, the Food and Agriculture Organization (FAO) reported that pests cause annual losses of up to 40% in global crop production. Plant diseases alone impose a cost exceeding $220 billion on the global economy each year, while invasive insects lead to losses of approximately $70 billion annually. Consequently, the rising prevalence of pest outbreaks is a driving force behind the growth of the herbicide market.

The usage of synthetic herbicides has raised concerns due to the various complications they can cause in both humans and animals. Synthetic herbicides are typically composed of chemical substances that can lead to respiratory issues, digestive problems, and skin irritation. An Australian study indicates that workers exposed to herbicides have a higher likelihood of developing respiratory-related diseases. These issues, affecting both humans and animals, serve as limitations to the growth of the herbicide market.

The herbicide market has witnessed a notable increase in mergers and acquisitions over the past five years. Such collaborations are primarily geared towards expanding product portfolios or enhancing distribution networks. This trend can be attributed in part to the impact of low food commodity prices on pesticide manufacturers and distributors, leading to industry consolidation. For instance, in May 2021, the US-based crop protection products firm, AMVAC Chemical Corporation, acquired the Envoke brand herbicide from Swiss agrichemical company Syngenta Crop Protection, further enriching AMVAC's portfolio and enabling it to offer unique weed control solutions in crops like cotton, sugarcane, and transplanted tomatoes.

Major companies operating in the herbicide market are actively developing new herbicides as a strategic move to gain a competitive advantage in the market. For example, in March 2022, Clariant AG, a Swiss chemical company, introduced ADJUWEX, a product designed to facilitate the customization of effective glufosinate herbicide formulations tailored to specific agricultural conditions and requirements. As farmers face increasing challenges related to weed control and regrowth, Clariant's ADJUWEX offers solutions to optimize glufosinate formulations, considering factors such as climate, soil type, crop variety, and application conditions. ADJUWEX also accommodates modern application methods like drone technology and has undergone extensive trials in various crops worldwide, promoting precision farming practices.

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.

Asia-Pacific was the largest region in the herbicides market in 2023. 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.

The countries covered in the herbicides market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The herbicides market consists of the sales of contact herbicides and translocated herbicides. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.