Herbicide Market Size

Statistics for the 2023 & 2024 Herbicide market size, created by Mordor Intelligence™ Industry Reports. Herbicide size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of herbicide Industry

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Herbicide Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 42.81 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 55.09 Billion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Application Mode Soil Treatment
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 5.17 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Region South America

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Herbicide Market Analysis

The Herbicide Market size is estimated at 42.81 billion USD in 2024, and is expected to reach 55.09 billion USD by 2029, growing at a CAGR of 5.17% during the forecast period (2024-2029).

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42.81 Billion

Market Size in 2024 (USD)

55.09 Billion

Market Size in 2029 (USD)

6.39 %

CAGR (2017-2023)

5.17 %

CAGR (2024-2029)

Largest Segment by Application Mode

48.80 %

value share, Soil Treatment , 2023

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Herbicides can be applied with precision through the soil treatment method, targeting areas where weed pressure is high, thereby optimizing herbicide use.

Largest Segment by Crop Type

44.18 %

value share, Grains & Cereals , 2023

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The rising demand for herbicides, the increasing need for high agricultural productivity, and the increasing international demand for grains and cereals drive the market.

Largest Segment By Region

43 %

value share, South America , 2023

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The rising crop losses, the need to protect crops, increasing awareness of weed control, and rising demand for agriculture products are driving the market.

Fastest-growing Segment by Country

9.06 %

Projected CAGR, India , 2024-2029

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South America dominates the herbicide market as it includes major agricultural producers like Argentina, Brazil, and Chile, and the use of herbicides is crucial to manage weeds.

Leading Market Player

22.28 %

market share, Bayer AG , 2022

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Bayer has partnered with Oerth Bio to develop next-generation crop protection products based on Oerth Bio's innovative protein degradation technology.

Soil application dominates the global herbicide market

  • Weeds are a major contributor to yield loss and reduced quality in an agricultural system. They compete with the crop for resources like light, water, and nutrients. Weeds can also harm crop plants by acting as reservoirs for destructive plant pathogens, the insect vectors that move these pathogens from plant to plant, or both. The use of herbicides is the most effective weed management tool, as it is cheaper, more reliable, and more labor- and time-saving than other weed control measures. Several herbicide application techniques can be used to control herbaceous weeds, trees, and bushes of various sizes.
  • Soil application dominated the global herbicide market, accounting for a market share of 48.8% in 2022. Pre-emergence herbicides can be applied through soil treatment. By reducing weed pressures early on, crops can get off to a strong start during the cropping season. With different active ingredients and application timings, soil-active herbicides can help tackle troublesome resistant weeds and slow down the development of herbicide resistance.
  • Foliar application accounted for 29.8% of the global herbicide market value in 2022. Post-emergence herbicides can be applied through this method. A post-emergence herbicide must move from the leaf surface and reach the target site to be effective. Following the foliar method, chemigation accounted for 19.6% of the global herbicide market in 2022.                             
  • In the agricultural sector, herbicide usage optimizes crop productivity and enhances overall profitability. The usage of herbicides is expected to register a CAGR of 5.1% during the forecast period (2023-2029).
Global Herbicide Market

Rising crop losses due to the weeds are expected to boost the demand for herbicides

  • Weeds are a major biotic constraint to production in different cropping systems. Yield losses in crops due to weeds depend on several factors, such as weed emergence time, weed density, type of weeds, and crop types. Weeds can result in 100% yield loss if left uncontrolled. Herbicides are an integral part of weed control globally.
  • In 2022, South America accounted for a market share of 42.7%, by value, of the global herbicide market. The herbicide market in South America is experiencing growth in various countries, including Argentina, Brazil, Chile, and the rest of South American countries. As these countries are major agricultural producers with vast expanses of farmland, the use of herbicides is crucial to manage weed populations and ensure optimal crop yields. The South American herbicide market is projected to record a CAGR of 5.1% during the forecast period (2023-2029.
  • North America accounted for 29.9%, by value, of the global herbicide market in 2022. North America's diverse climate allows for the cultivation of a wide range of crop types across the region. North Americans cultivate grains, legumes, fruits, vegetables, and ornamental plants. Primetime farmers mostly practice monoculture, i.e., cultivating a single crop for their primary income in a very large area, leading to an increase in weed infestation and reduced yields. Johnsongrass, barnyard grass, Palmer amaranth, and prickly sid are major weeds found in the region.
  • The global herbicide market is projected to register a CAGR of 5.1% during the forecast period (2023-2029). The rising crop losses, the need to protect crops, increasing awareness of weed control, and rising demand for agriculture products are driving the market's growth.

Herbicide Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029