Herbicides Market to Reach USD 7998.9 Million by 2025 with a CAGR of 4.8% | Valuates Reports

BANGALORE, India, May 17, 2022 /PRNewswire/ -- The Global Herbicide Market is Segmented by Type (Synthetic Herbicide and Bioherbicide), Mode of Action (Selective and Non-selective), and Crop Type (Corn, Cotton, Soybean, Wheat, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025.

The global herbicide market size is expected to reach overall market revenue of USD 7,998.9 Million by 2025, growing at a CAGR of 4.8% during the forecast period.

Major Factors Driving the Growth of the Herbicides Market

The growing use of herbicides for boosting agricultural crop production, rising population, cost-effective than manual weed control, and surging use of non-selective herbicides will drive the growth of the herbicide market.

Moreover, the strict regulation on the use of synthetic herbicides owing to environmental and health risks has given rise to the application of bioherbicides. This is expected to boost the market growth during the forecast period.

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TRENDS INFLUENCING THE GLOBAL HERBICIDES MARKET

Herbicides are gaining prominence in global agricultural production. It is being used increasingly to improve tillage and environmental conditions. The crop yield is enhanced drastically by removing unnecessary vegetation or weed. It also reduces erosion, and greenhouse gas emissions and conserves water along with nutrient absorption. Moreover, herbicides remove unwanted plants in commercial forests, farms, and landscapes and are cheaper along with 3 to 4 times more beneficial than manual weed control. This will drive the herbicide market during the forecast period.

Synthetic herbicides lead to groundwater contamination and are toxic to animals, and human health. This has prompted farmers to adopt alternative weed control systems for increasing crop yield. Bioherbicides are gaining popularity as they are made up of microorganisms that possess invasive genes. The genetic code matches exactly the weed's outer defensive genes. This leads to targeted weed removal without interfering with non-targeted areas or damaging the overall crop productivity. Moreover, Bioherbicides can survive long enough in the environment till the next growing season and pose no risk to human health. They are cheaper than their synthetic counterparts and also reduce farming expenses. The selective response is highly effective in attacking resistant weed types.

Eco-friendly herbicides are gaining momentum due to a strong government push and quick regulatory approval for being less risky than other conventional herbicides. Key players are driving R&D initiatives for developing better versions of herbicides to boost agricultural productivity for meeting global food demands. This is due to the increasing population levels and strict regulations on the usage of synthetic herbicides. These factors will drive the growth of the herbicide market during the forecast period. 

The increasing adoption of non-selective herbicides will boost the herbicide market during the review period. It kills all unwanted vegetation such as broadleaf or grassy weeds along fence rows, driveways, sidewalks, etc. The process is easy as you just have to mix the chemical in a handheld sprayer or water equipment and then spray it in your targeted area.

Although herbicides are useful they are capable of causing significant health risks to humans and pets. If the chemical compound is breathed or ingested it can cause gastrointestinal discomfort or skin irritation. Rain or irrigation can carry herbicides to unintended areas such as waterways. This can cause significant effects on amphibians, fish, or aquatic vegetation. Moreover, prolonged usage can lead to weed resistance as they stop responding to the herbicide's active properties. Such factors are going to hamper the global herbicide market in the coming years.

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HERBICIDES MARKET SHARE ANALYSIS

Based on crop type, the others segment like orchards, grapes, pastures, hay, rice, vegetable, fruits, etc is expected to grow the highest due to rapid usage for increasing crop yield, farm profits, etc.

Based on the mode of action, the non-selective herbicides will grow rapidly due to increased use for sustainable agricultural development and weed management.

Based on type, bioherbicides are expected to dominate due to targeted weed removal, no potential harm to human health, and no pesticide residue build-up. They are also effective against resistant weed types.

Based on region, North America and Asia-Pacific will grow the fastest at a CAGR of 3.9% and 6.5%. China is the largest market and leading exporter whereas India is the fastest-growing region. 

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Key Players:

• Adama Agricultural Solutions Ltd
• Basf Se
• Bayer Ag
• Dowdupont
• Fmc Corporation
• Nissan Chemical Corporation
• Nufarm Limited
• Syngenta
• Sumitomo Chemical Co., Ltd
• Wilbur-ellis Holdings, Inc

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SIMILAR REPORTS:

-  The global Bioherbicide market was valued at USD 43 Million in 2020 and it is expected to reach USD 85 Million by the end of 2027, growing at a CAGR of 10.2% during 2021-2027.

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-  Due to the COVID-19 pandemic, the global Biostimulants market size is estimated to be worth USD 147.2 Million in 2022 and is forecast to a readjusted size of USD 203 Million by 2028 with a CAGR of 5.5% during the review period.

-  Due to the COVID-19 pandemic, the global Dicamba Herbicide market size is estimated to be worth USD 327.9 Million in 2022 and is forecast to a readjusted size of USD 430.7 Million by 2028 with a CAGR of 4.6% during the review period.

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