Herbicide Market Insights, Trends & Growth Outlook 2022-2029

SKU: DM1985 | Last Updated On: Jun 22 2022 | Available Formats

> Global Herbicide Market Expected to reach a high CAGR of 6.5% By 2029 | DataM Intelligence

Global Herbicide Market is segmented By Selectivity (Selective Herbicides, Non-Selective Herbicides), By Product Type (Glyphosate, Acetochlor, 2,4-D, Atrazine, Dicamba, Others), By Time of Application (Pre-Plantation, Pre-Emergent, Post Emergent), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Herbicide Market Trends Growth Insights:

The Global "Herbicide Market" is expected to grow at a CAGR of 6.5% during the forecasting period (2022-2029).

Herbicides prevent or eliminate weeds and thus replace or reduce manual and mechanical weeding. It provides more effective and economical means of weed control than cultivation, hoeing and hand pulling. Herbicide usage is high in major agricultural producing nations such as Australia, the United States, Brazil, India, and China, with minimum labor availability and high wage rates. With an approximate volume share of 48% in the global pesticides market, herbicides evolved as the largest consumed crop protection pesticide globally.

Market Dynamics:

The growing need to improve agricultural yield due to surging food demand and reducing arable land is the major factor driving the global Herbicide Market. Arable land is constantly declining with urbanization, soil degradation, climatic changes, and some other factors. This has resulted in the need for enhancing agricultural productivity, thereby driving the use of effective farming materials. Moreover, the growing need for pest management in agriculture due to agricultural produce's quality concerns is further boosting the demand for herbicides across the globe. Additionally, increasing labor costs and a labor shortage are also supporting the growth of the global Herbicide Market.

However, stringent government regulations imposed on the usage of specific herbicides due to their adverse environmental and human health effects are the major factor hindering the growth of the global Herbicide Market.

Segmentation Analysis

The glyphosate segment dominated the global market due to its extensive agricultural production usage and its advantages, such as low cost and high efficiency over other herbicides. Glyphosate was extensively used in the production of corn, soybean, and wheat crops. Glyphosate accounted for nearly 30% of the percent market share in 2017. The glyphosate herbicides market is attaining investments into research activities aimed at reducing the adverse environmental effect of these chemicals. In June 2019, Bayer AG, a global player in crop science and chemicals agents, invested approximately USD 5.6 billion in weed killer research to reduce its environmental footprint by 30% by 2030. The evolution of GM glyphosate-resistant crops is expected to provide growth opportunities for glyphosate-based herbicides. According to FOE (Friends of the Earth Europe), the introduction of GM glyphosate-resistant sugar beet, maize, and soybean might increase glyphosate usage by 800% between 2017 and 2025.

Geographical Presentation

Asia-Pacific is dominating the global Herbicide Market owing to the large-scale utilization of herbicides in wheat, corn, rice, and other crops. The declining availability of agricultural labor and shift towards precision farming practices results in the rapid transition of manual weed control towards crop protection chemicals. India and China lead the herbicide consumption in this region and are expected to hold their dominance over the forecast period. According to the Chinese government, the market growth for herbicides in China is expected to increase by 3% from 2017.

Competitive Analysis

The global Herbicide Market is consolidated with major market players such as Syngenta AG, Bayer AG, BASF SE, and Dow Agrosciences, occupying 70% of the global market share.

The development of new herbicide formulations and new production facilities are the major strategies adopted by agrochemical manufacturers to increase their foothold in the market. The market has witnessed the launch of high-performance herbicides that have enhanced chemical efficiency over weed control.

  • In March 2019, Atanor SCA launched a new formulation plant in Argentina for TRAC 90 WG. This new production plant posse’s immense potential to meet the market demand as well as exports.

  • In September 2018, HELM Agro US received EPA registration for FEARLESS and FEARLESS extra herbicides and acetochlor-based weed control tools for corn.

  • In June 2018, BASF SE launched pre-emergent and residual herbicide Zidua for Argentinean farming.

  • In April 2017, UPL Ltd., a global leader in crop protection, launched two new crop protection herbicides MOCCASIN, and SHUTDOWN, in the United States. These products are designed for a wide spectrum of crops, including soybeans, cotton, peanuts, potatoes, sugar beets, and corn.

 

Trending Topics

Dicamba Herbicide Market

Soil Active Herbicides Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest