Herbicides Market to Surpass 45.75 Billion by 2030 Drives Due to Growing Demand for Weed Control Solutions
SkyQuest projects that the herbicides market will attain a value of USD 45.75 billion by 2030, with a CAGR of 4.2% over the forecast period (2023-2030). The rising tourism trend worldwide has increased demand for visually appealing and well-maintained landscapes in the herbicides market. This trend has significantly impacted the global herbicides market. Herbicides play a crucial role in maintaining grasslands by effectively controlling the growth of broadleaf vegetation. Therefore, they are widely applied in parks, farms, and other recreational areas to preserve desired plant species.
Westford, USA, Aug. 04, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the widespread adoption of herbicides as an alternative to traditional methods such as tillage and flooding for weed control offers several benefits, including conserving natural resources such as soil, energy, and water. This conservation aspect is a significant factor contributing to the herbicides market growth.
Browse in-depth TOC on “Herbicides Market”
- Pages – 157
- Tables – 90
- Figures – 76
Herbicides are a specific type of pesticide designed to control or eliminate weeds during agricultural cultivation. Commonly referred to as weed killers, herbicides can be categorized into two main types: selective and non-selective. Selective herbicides target specific types of weeds while minimizing damage to desirable plants in the herbicides market.
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Prominent Players in Herbicides Market
- Syngenta AG
- Bayer AG
- BASF SE
- Dow Chemical Company
- Monsanto Company
- FMC Corporation
- Nufarm Limited
- Adama Agricultural Solutions Ltd.
- UPL Limited
- Sumitomo Chemical Co., Ltd.
- Arysta LifeScience Corporation
- Valent Biosciences Corporation
- Drexel Chemical Company
- DOW AgroSciences LLC
- American Vanguard Corporation
- DuPont de Nemours, Inc.
- Nantong Jiangshan Agrochemical & Chemical Co., Ltd.
- Gowan Company LLC
- Rotam CropSciences Ltd.
- Wilbur-Ellis Company LLC
Grains and Cereals Segment is Expected to Grow the Market Due to the Rising Consumption of Grains and Cereals
Grains and cereals segment emerged as the leading contributor to the revenue share of the herbicides market. This can be attributed to the high consumption of grains and cereals, considered one of the most crucial food sources worldwide. Therefore, the significant role of grains and cereals in the global diet drives the demand for herbicides in this segment.
The markets in South America dominated the herbicides market, holding the largest market share. This trend is expected to continue and further increase over the next five years. One of the contributing factors to this growth is the comparatively less stringent regulations in South America compared to other regions. These relaxed regulations have attracted major herbicide industry players to expand their presence in the region.
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Bio-Based Segment is Expected to Dominate in the Market Due to the Growing Rising Awareness about the Herbicides
Bio-based segment emerged as the dominant contributor to the revenue of the herbicides market. The escalating concerns regarding health and environmental impacts have significantly raised awareness about the benefits of bio-based herbicides.
Regional markets in the Asia-Pacific region are expected to emerge as the largest herbicides market. Herbicides have been crucial in improving agricultural yields in countries such as China. Herbicides have facilitated the adoption of high-yielding dwarf rice plants, which are less competitive with weeds by effectively controlling weeds.
A comprehensive analysis of the major players in the herbicides market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Herbicides Market
- Moa Technology, a UK-based agricultural biotech startup, recently secured USD 44 million in funding in 2022. The company aims to address challenges related to herbicide resistance by focusing on discovering innovative and sustainable alternatives.
- Recently, Bayer introduced a new herbicide called Mateno Plus in Uruguay. This herbicide is specifically designed to effectively control broadleaf weeds and grasses that commonly impact wheat and barley crops. The launch of Mateno Plus provides farmers in Uruguay with an innovative solution to combat weed-related challenges, allowing for improved crop health and yield.
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Key Questions Answered in Herbicides Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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