Herbicides Market

Herbicides Market Overview (2022 to 2032)

The global herbicides market is expected to register a moderate CAGR of 6% during the forecast period. Significant variables driving the growth of the global herbicides market include increased knowledge about the advantages of spraying herbicides pre- and post-cultivation of crops, as well as rising demand for food throughout the world.

Herbicides are crop protection materials used for killing undesired plants without causing any harm to the plantation and thus increasing agricultural productivity.

Herbicides are often modified for a particular plantation based on plant hormones to ensure the safety of the desired plantation. Herbicides are also employed for clearing the land of plants and herbs where they kill all plants in a region.

Attributes	Details
Herbicides Market Value in 2020	USD 34.3 Billion
Herbicides Market CAGR (2022 to 2032)	6%

What Factors Determine the Herbicides Market Growth?

The formulation of strict laws prohibiting the use of some herbicides in industrialized countries is stifling the expansion of the herbicide market.

The increasing population and growing disposable income of a region are among other drivers for the demand for herbicides. Synthetically produced herbicides dominate the global herbicides market primarily owing to low cost and higher efficiency.

Bio-based herbicides are made from renewable resources and are predicted to be the fastest-growing herbicide product class shortly. Among the chemicals utilized in herbicide, manufacture includes amide, sodium chlorate, and sulfuric acid, to name a few.

What is the Segment Outlook of the Global Herbicides Market?

To market their goods, herbicide producers must follow a diligent clearance process.

Herbicides help in improving agricultural productivity by killing unwanted herbs and weeds on the plantation. Hence increasing demand for high agricultural productivity to meet the global food demands has been the foremost driver for herbicides market growth.

However, several synthetic herbicides pose a severe threat to the ecosystem and cause several environmental and health hazards. The hazards associated with synthetic herbicides have led to several stringent regulations on the use of herbicides which has been a major factor restraining herbicides market growth.

The regulations have led to an increase in the demand for bio-based herbicides. To meet the stringent regulations and also to improve the efficiency of herbicides, major players invest in research and development activities to develop new herbicides. Hence intellectual properties and patents are among the critical success factors for growth in the herbicides market.

Which Region is Most Likely to be the Market Leader in Herbicides?

North America is the second-largest consumer of herbicides. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restrain market growth in these regions.

The Asia Pacific dominated the global herbicides market both in terms of production and consumption and the trend is expected to continue shortly. The Asia Pacific comprises two of the largest countries in terms of population namely India and China.

These regions are also among the major emerging economies in terms of GDP growth rate and increasing disposable income. A large population coupled with high economic growth in these emerging economies is expected to drive demand for herbicides in the Asia Pacific.

Bio-based herbicides are expected to offer huge growth opportunities in North America and Europe.

Demand for herbicides in the RoW region is dominated by South America primarily owing to a growing demand for several crops in the region including corn, beans, and cashews among several others. RoW region is expected to be among the fastest-growing regions for herbicides market growth.

Scope Of Report

Attributes	Details
Forecast Period	2022 to 2032
Historical Data Available for	2014 to 2020
Market Analysis	USD Billion for Value
By Type	Glyphosate, Diquat, 2, 4-D
By Crop Type	Cereals & grains, Oilseeds & pulses, Fruits & vegetables, Others
By Region	North America; Europe; Asia Pacific; Latin America; Middle East and Africa
By Key Players	Kenvos Biotech Co., Ltd.; Amvac Chemical Corporation; United Phosphorus Limited (UPL); Bayer CropScience AG; Shandong Tianfeng Biotechnology Co.

Key Segments

By Type:

• Glyphosate
• Diquat
• 2
• 4-D

By Crop Type:

• Cereals & grains
• Oilseeds & pulses
• Fruits & vegetables
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Frequently Asked Questions

What is the growth outlook for the Herbicides Market?

The herbicides market is expected to register a CAGR of 6% from 2022 to 2032.

Which Sector is the Key Driver in the Herbicides Market?

The agricultural sector is a key driver in the herbicide market.

Which Region Leads the Herbicides Market?

The Asia Pacific region is anticipated to dominate the herbicides market during the forecast period.

How much Growth Potential does the Herbicides Market hold?

The herbicides market is likely to hold a valuation of US$ 69.02 billion by 2032.

What is the current valuation of the Herbicides Market?

The current valuation of the herbicides market in 2022 is US$ 38.54 billion.