IMARC Group, a leading market research company, has recently releases report titled “Herbicides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global herbicides market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Herbicides Market?
The global herbicides market size reached US$ 31.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.06% during 2023-2028.
Herbicides are chemical substances used to control or kill unwanted plants, such as residential or agricultural weeds, grasses, and invasive species. They are designed to selectively target and eliminate specific types of plants while minimizing damage to desired crops, lawns, or vegetation. They work by interfering with various biological processes in plants, such as photosynthesis, growth regulation, or nutrient absorption, which lead to the death or stunted growth of the plant. They are used in agriculture, horticulture, forestry, landscaping, and home gardening to manage weed and improve crop or plant health.
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What are the growth prospects and trends in the herbicides industry?
The increasing use of herbicides for improving agricultural productivity by killing unwanted weeds and herbs during the plantation to meet food requirements represents one of the primary factors bolstering the market growth around the world.
In addition, governing agencies of numerous countries are collaborating with several organizations and institutions to offer training and educational programs, and academic courses to promote the adoption of herbicides among farmers. They are also undertaking measures to encourage the adoption of sustainable agriculture practices and reduce green house gas emissions.
Apart from this, the rising adoption of organic farming practices due to growing food security concerns among the masses is creating a positive outlook for the market.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
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Synthetic
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Glyphosate
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Atrazine
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2,4-Dichlorophenoxyacetic Acid
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Acetochlor
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Paraquat
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Others
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Bio-Herbicides
Breakup by Mode of Action:
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Selective Herbicides
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Non-Selective Herbicides
Breakup by Application:
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Grains and Cereals
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Pulses and Oilseeds
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Commercial Crops
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Fruits and Vegetables
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Turf and Ornamentals
Breakup by Region:
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North America: (United States, Canada)
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Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
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Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
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Latin America: (Brazil, Mexico, Others)
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Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
BASF SE, Bayer AG, Corteva Inc., Drexel Chemical Company, FMC Corporation, Heranba Industries Ltd., Nissan Chemical Corporation, Nufarm, Sumitomo Chemical Co. Ltd., Syngenta Group (China National Chemical Corporation), UPL Limited and Wilbur-Ellis Company LLC.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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