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Herbicides Market

Herbicides Market Size, Share & Trends Analysis Report By Type (Synthetic And Bio-Based), Application (Pulses & Oilseeds, Grains & Cereals, Commercial Crops, Fruits & Vegetables, Turf & Ornamentals And Others), And Mode Of Action (Selective And No-Selective), By Region, And Segment Forecasts, 2024-2031

Report ID : 1542 | Published : 2024-05-23 | Pages: 180 | Format: PDF/EXCEL

The Global Herbicides Market Size is valued at 41.25 billion in 2023 and is predicted to reach 71.15 billion by the year 2031 at an 7.22% CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

  • The increasing necessity for food due to population growth drives the demand for herbicides market.
  • The adoption of modern farming methods such as precision agriculture drives the demand for herbicides market.
  • North America dominated the market and accounted for a global revenue share in 2023.
  • The challenge facing the herbicides market is the increasing regulatory scrutiny and restrictions on the use of certain herbicides due to environmental and health concerns.

Herbicide

Herbicides are a type of sustainable agricultural product that kills undesirable plants without harming the plantation, hence boosting agricultural output. For a specific plantation, herbicides are frequently altered based on plant hormones to ensure the safety of the targeted plantation.

Additionally, herbicides are used to rid a field of all vegetation, including plants and herbs. Increased awareness of the benefits of applying herbicides before and after crop production and an increase in global food consumption are significant factors propelling the expansion of the worldwide herbicides market. But there are bright prospects due to the development of the agriculture industry in developing nations and the invention of new formulations.

Commercial agriculture firms and farmers will also buy more arable land to enhance agricultural production. A pattern has emerged where R&D operations are prioritized to develop newer herbicide formulas. This primarily entails the creation of bio-based herbicides due to the adverse effects of chemical-based treatments on the environment and human health. A further factor supporting the sustained demand for herbicides is the pressure on product producers to provide weed-resistant herbicides. As a result, the demand for herbicides grows.

Competitive Landscape:

Some of the major key players in the Herbicides market are:

  • UPL
  • BASF SF
  • Bayer AG
  • DUPont
  • ADAMA
  • Syngenta
  • FMC Corporation
  • Drexel Corporation
  • Sumitomo Chemical Co., Ltd
  • Nufarm 

Market Segmentation:

The herbicides market is segmented based on type, application, and mode of action. Based on type, the market is segmented as synthetic and bio-based. By application, the market is segmented into pulses & oilseeds, grains & cereals, commercial crops, fruits & vegetables, turf & ornamentals and others. By mode of action, the market is segmented into selective and no-selective.

Based On Type, The Synthetic Segment Is A Significant Contributor To The Herbicides Market

The synthetic herbicides category is expected to hold a significant share of the global Herbicides market in 2021. Synthetic herbicides are in considerable demand due to their effectiveness and inexpensive price. Additionally, glyphosate is the most widely used herbicide in the world due to its efficiency, low cost, and use in weed control and plant development. Synthetic herbicide use has a variety of adverse effects on both people and animals. Herbicides, which can be a single agent or a combination of substances, are typically used to restrain, eliminate, and prevent the growth of weeds. Due to their chemical components, most herbicides irritate the skin, induce respiratory and digestive issues, and cause skin irritation.

Selective Segment Witness Growth At A Rapid Rate

The selective segment is projected to grow rapidly in the global Herbicides market. A herbicide known as a selective killer only kills particular species of plants. In agriculture, it is mostly used to eliminate weeds without endangering the crop. The manner of action, chemical makeup, and characteristics of selective herbicides are categorized. The demand for organic food is rising, and people are becoming more aware of the advantages of employing selective herbicides, which is why this market is expanding. Additionally, the market for selective herbicides is anticipated to grow due to the rising acceptance of genetically modified crops.

The North America Herbicides Market Holds A Significant Revenue Share In The Region

The North America herbicides market is expected to register the highest market share in revenue soon. The large population base and the strong demand for food production drive the market value. Large manufacturers' positions in the herbicide market in this region are being cemented by factors including their extensive product portfolios for plant protection products, strong R&D, and expanding manufacturing facilities at various locations. In addition, the Asia Pacific region is projected to grow rapidly in the global herbicides market. India and China have the largest populations in the Asia-Pacific region. These regions are among the top emerging economies regarding GDP growth and rising disposable income. Demand for herbicides in Asia is anticipated to increase due to the region's large population and rapid economic expansion in these rising economies.

Recent Developments:

  • In February 2024, BASF received approval from the Environmental Protection Agency (EPA) for the Surtain herbicide. The U.S. EPA has registered and certified Surtain™ herbicide, which is the first solid encapsulated premix designed product available in the market. However, its use is still requiring state authorization. The revolutionary technology of Surtain herbicide provided producers with a broad range of time during which it could be applied, starting from before planting and extending to the early stages of plant growth. 

Herbicides Market Report Scope:

Report Attribute

Specifications

Market size value in 2023

USD 41.25 billion

Revenue forecast in 2031

USD 71.15 billion

Growth rate CAGR

CAGR of 7.22% from 2024 to 2031

Quantitative units

Representation of revenue in US$ Million, Volume in Kiloton and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments covered

Type, Application, And Mode Of Action

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia

Competitive Landscape

UPL, BASF SF, Bayer AG, DUPont, ADAMA, Syngenta, FMC Corporation, Drexel Corporation, Sumitomo Chemical Co., Ltd and Nufarm

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Herbicides Market Snapshot

Chapter 4. Global Herbicides Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:

5.2.1. Synthetic
5.2.2. Bio-Based

Chapter 6. Market Segmentation 2: by Mode of Action Estimates & Trend Analysis
6.1. by Mode of Action & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Mode of Action:

6.2.1. Pulses & Oilseeds
6.2.2. Grains & Cereals
6.2.3. Commercial Crops
6.2.4. Fruits & Vegetables
6.2.5. Turf & Ornamentals
6.2.6. Others

Chapter 7. Market Segmentation 3: by Mode of Action Estimates & Trend Analysis
7.1. by Mode of Action & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Mode of Action:

7.2.1. Selective
7.2.2. Non-selective

Chapter 8. Herbicides Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Product Type, 2024-2031
8.1.2. North America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.1.3. North America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.1.4. North America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2024-2031

8.2. Europe

8.2.1. Europe Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Product Type, 2024-2031
8.2.2. Europe Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.2.3. Europe Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.2.4. Europe Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2024-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Product Type, 2024-2031
8.3.2. Asia Pacific Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.3.3. Asia-Pacific Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.3.4. Asia Pacific Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2024-2031

8.4. Latin America

8.4.1. Latin America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Product Type, 2024-2031
8.4.2. Latin America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.4.3. Latin America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.4.4. Latin America Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2024-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Product Type, 2024-2031
8.5.2. Middle East & Africa Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.5.3. Middle East & Africa Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Mode of Action, 2024-2031
8.5.4. Middle East & Africa Herbicides Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2024-2031


Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles


9.2.1. UPL
9.2.2. BASF SF
9.2.3. Bayer AG
9.2.4. DUPont
9.2.5. ADAMA
9.2.6. Syngenta
9.2.7. FMC Corporation
9.2.8. Drexel Corporation
9.2.9. Sumitomo Chemical Co., Ltd
9.2.10. Nufarm
9.2.11. Other Prominent Players

Segmentation of Herbicides Market-

Herbicides Market By Type

  • Synthetic
  • Bio-Based

Herbicides Market

Herbicides Market By Application

  • Pulses & Oilseeds
  • Grains & Cereals
  • Commercial Crops
  • Fruits & Vegetables
  • Turf & Ornamentals
  • Others

Herbicides Market By Mode of Action

  • Selective
  • Non-selective

Herbicides Market 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
  • Southeast 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

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Herbicides Market?

Herbicides Market expected to grow at 7.22% CAGR during the forecast period for 2024-2031

UPL, BASF SF, Bayer AG, DUPont, ADAMA, Syngenta, FMC Corporation, Drexel Corporation, Sumitomo Chemical Co., Ltd and Nufarm

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