Herbicides Market Demand, Size, Share, Scope & Forecast To 2030
According to the most recent Emergen Research analysis, the global herbicides market was worth USD 36.93 billion in 2021 and is expected to grow at a CAGR of 6.09% during the forecast period. Some of the key factors driving market revenue growth are the rapid adoption of better farming practises globally, the reduction in fertile land for farming purposes, and the rising development of advanced agricultural technologies. Another factor driving up demand for herbicides is a labour shortage in various emerging countries such as China, India, and Bangladesh due to rapid urbanisation, with the majority of people migrating to cities.
Herbicides are one of the most common crop protection chemicals used to control weeds. The herbicides market is divided into four sections: herbicide type, mode of action, crop type, and region. In 2015, the herbicides market was dominated by the glyphosate segment, followed by the diquat and 2,4-D segments. Glyphosate is expected to remain a leading segment as the use of glyphosate-based products in various forms, such as gel and powder, grows across countries. In 2015, diquat herbicide had the second largest market share. Diquat is used as a substitute for paraquat because they are both non-selective contact herbicides with nearly identical chemical properties.
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Some Key Highlights From the Report
In 2021, the grains and cereals segment accounted for a sizable revenue share. The fact that grains and cereals are the most important source of food all over the world is a major driver of growth in this segment. According to the UN Food and Agriculture Organization (FAO), global wheat production in 2019 is estimated to be around 750 million tonnes per year. Furthermore, according to FAO projections, the world population will exceed 10 billion by 2050, implying an increase in global demand for food and agricultural products.
In 2021, the non-selective segment accounted for a sizable revenue share. Cost-effective and efficient clearing of lands with unwanted plants and weeds is one of the key factors expected to drive segment revenue growth. Non-selective herbicides help to promote sustainable agriculture by reducing soil erosion and the need for mechanical tillage and hand weeding.
Over the forecast period, the Asia Pacific market is expected to grow at a rapid pace. Countries like China and India are major food grain producers in this region, as well as having the largest populations. Reduced food grain waste, combined with increased farm productivity, is a major factor driving market growth. Furthermore, increasing R&D initiatives to increase grain production, such as TEKFARM Global by Grains Research & Development Corporation (GRDC), a scouting programme for bringing best ag-tech solutions to Australia. Furthermore, the use of herbicides for higher crop yields in less fertile lands to supplement rising food consumption is contributing to the region’s market growth.
UPL, BASF SE, Bayer AG, DuPont, ADAMA, Syngenta, FMC Corporation, Drexel Corporation, Sumitomo Chemical Co., Ltd., and Nufarm are among the major companies profiled in the global market report.
Emergen Research has segmented the global herbicides market based on type, application, mode of action, and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Pulses & Oilseeds
- Grains & Cereals
- Commercial Crops
- Fruits & Vegetables
- Turf & Ornamentals
Mode of Action Outlook (Revenue, USD Billion; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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