Herbicides Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Report Covers Global Herbicides Market Share & Industry Overview and it is Segmented by Origin (Synthetic and Bio-based), Crops (Grains and Cereals, Oilseeds, Fruits and Vegetables, and Turfs and Ornamentals), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers the market sizing and forecasts in value (USD million) for all the above segments.

Herbicides Market Size

Herbicides Market Summary
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Study Period 2017-2027
Market Size (2023) USD 30.32 Billion
Market Size (2028) USD 40.84 Billion
CAGR (2023 - 2028) 6.14 %
Fastest Growing Market South America
Largest Market Asia Pacific

Major Players

Herbicides Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Herbicides Market Analysis

The Herbicides Market size is estimated at USD 30.32 billion in 2023, and is expected to reach USD 40.84 billion by 2028, growing at a CAGR of 6.14% during the forecast period (2023-2028).

  • Herbicides are the largest segment in crop protection chemicals for most countries in all regions due to their significant usage in controlling weeds at a low cost. Furthermore, GMOs have been changing the way pesticides are used in agriculture. Herbicide-tolerant genetically modified (GM) crops have led to an increase in herbicide usage.
  • Asia-Pacific is the largest geographical segment of the market studied and accounts for most of the overall market. China has the largest market for herbicides in the Asia-Pacific region. China exports most of the produced herbicides to South Asia developing countries like Pakistan, Bangladesh, etc., whereas India is the fastest-growing market of herbicides in the Asia-Pacific region.
  • The changing climatic condition, diminishing arable land, and increasing food demand are the two major driving factors for the global herbicide market. Despite various government policies to control the usage of herbicides, integrated pest management is paving the way for pest management without causing damage to our environment. This gives herbicide manufacturers an excellent opportunity to tap the market potential for manufacturing green herbicides, which are growing at a faster rate, thereby driving the market during the forecast period.

Herbicides Market Trends

This section covers the major market trends shaping the Herbicides Market according to our research experts:

Diminishing Arable Land and Increasing Food Demand

According to the Food and Agriculture Organization (FAO), the world population is expected to grow by over a third, or 2.3 billion, between 2009 and 2050. At the same time, per capita income is also projected to grow across the world. With the increasing per capita income and growing population, the demand for food is also estimated to grow globally. For instance, as per FAO, the food demand in the United States is expected to increase by 50% to 90% by 2050. Many factors, such as climate change, the outbreak of pests, lack of investments, and limited agricultural land, make it challenging to produce enough to ensure food security.

According to Food and Agriculture Organization (FAO) statistics, the global area under arable land has decreased from 1,507,196.3 thousand hectares in 2017 to 1387172.65 thousand hectares in 2020. This implies that the demand for food is increasing, and the area for food production is decreasing considerably. Thus, crop protection chemicals like herbicides are essential for higher yield and to meet global demand. Herbicides are being increasingly adopted around the world due to the shortage of workers and to replace tillage to improve environmental conditions. With the growing demand for herbicides, various companies are focusing on diversifying their product portfolios to make land more productive through product innovation, which boosts the demand for the herbicides market.

Herbicides Market: Arable Land in Thousand Hectares, United States, 2017-2021

Asia - Pacific Dominates the Market

The Asia-Pacific region is projected to become the largest herbicide market during the forecast period. Herbicides have helped to enhance agricultural yields in China by enhancing weed control and making it easier to adopt high-yielding dwarf rice plants that are less competitive with weeds. Herbicides have enabled farmers to control weeds despite a significant drop in conventional hand laborers in emerging countries such as India, Pakistan, Indonesia, and the Philippines, where laborers have migrated from rural to urban industrial areas, and the technologies are still limited due to the fragmented land holdings of farmers.

The Chinese government and society have generously supported green agrochemical research and development, boosting green agrochemical innovation in China. Pesticide research and technology innovation has made significant advances in China in recent years to provide new instruments to manage insects, illnesses, and weeds to protect essential crops.

Farmers are being driven to use chemical weed control due to the labor shortage. Herbicide use has increased dramatically in a relatively short period of time. India has more than 60 herbicides with various modes of action registered. There are around 700 herbicide formulations on the market. Farmers are increasingly turning to combination formulations of two distinct herbicides for broad-spectrum weed control, which is anticipated to drive the market.

Herbicide Market: Growth Rate By Region, 2022-2027

Herbicides Industry Overview

The herbicide market is highly consolidated, with major players such as Bayer, Syngenta International AG, BASF SE, Corteva AgriScience, and UPL Ltd. Mergers, acquisitions, partnerships, expansions, innovations, and new product launches are the strategies adopted by the major players in the market.

Herbicides Market Leaders

  1. BASF-SE

  2. Corteva Agriscience

  3. UPL Ltd.

  4. Syngenta International AG

  5. Bayer

*Disclaimer: Major Players sorted in no particular order

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Herbicides Market News

  • July 2022: Bayer launched Mateno Plus in Uruguay, which is a new herbicide highly suitable for controlling broadleaf weeds and grasses that affect wheat and barley crops.
  • February 2022: Syngenta released its new preemergence soybean herbicide, Tendovo, which has been registered by the U.S. Environmental Protection Agency (EPA) and growers who use Tendovo can achieve early-season weed control.
  • January 2022: Syngenta Canada launched Erebus Xtreme, a grass and broadleaf cereal herbicide that combines Group 2 and Group 4 active ingredients in a pre-mixed liquid formulation.

Herbicides Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Origin

      1. 5.1.1 Synthetic

      2. 5.1.2 Bio-based

    2. 5.2 Crops

      1. 5.2.1 Grains and Cereals

      2. 5.2.2 Pulses and Oilseeds

      3. 5.2.3 Commercial Crops

      4. 5.2.4 Fruits and Vegetables

      5. 5.2.5 Turf and Ornamentals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Adama Agricultural Solutions

      2. 6.3.2 Bayer CropScience SE

      3. 6.3.3 Corteva Agriscience

      4. 6.3.4 American Vanguard Corporation

      5. 6.3.5 BASF SE

      6. 6.3.6 FMC Corporation

      7. 6.3.7 Syngenta International AG

      8. 6.3.8 Nufarm Limited

      9. 6.3.9 UPL Limited

      10. 6.3.10 Sumitomo Chemical Company Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Herbicides Industry Segmentation

Herbicide, a chemical agent, is used to kill or inhibit the growth of unwanted plants, such as residential or agricultural weeds and invasive species. The ease of application is a big advantage of chemical herbicides over mechanical weed control, which often saves on labor costs. 

The herbicides market is segmented by origin (synthetic and bio-based), crops (grains and cereals, oilseeds, fruits and vegetables, and turfs and ornamentals), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market sizing and forecasts in value (USD million) for all the above segments.

Origin
Synthetic
Bio-based
Crops
Grains and Cereals
Pulses and Oilseeds
Commercial Crops
Fruits and Vegetables
Turf and Ornamentals
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Herbicides Market Research FAQs

The Herbicides Market size is expected to reach USD 30.32 billion in 2023 and grow at a CAGR of 6.14% to reach USD 40.84 billion by 2028.

In 2023, the Herbicides Market size is expected to reach USD 30.32 billion.

BASF-SE, Corteva Agriscience, UPL Ltd., Syngenta International AG and Bayer are the major companies operating in the Herbicides Market.

South America is estimated to grow at the highest CAGR over the forecast period (2023-2027).

In 2023, the Asia Pacific accounts for the largest market share in the Herbicides Market.

Herbicides Industry Report

Statistics for the 2023 Herbicides market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Herbicides analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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