IMARC Group, a leading market research company, has recently releases report titled “Herbicides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global herbicides market trends, share, size, growth, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Herbicides
Herbicides are chemical formulations that are specifically developed to control and manage unwanted vegetation, commonly known as weeds, in various agricultural, industrial, and residential settings. They work by inhibiting the growth and development of unwanted plants and allowing cultivated crops to increase without the stifling influence of weeds. They play a crucial role in modern agriculture by helping farmers in protecting their crops from the detrimental effects of weeds. They eliminate the growth of unwanted plants that may reduce crop yields or disrupt the aesthetics and safety of certain environments. They aid in simplifying weed management and contributing to efficient land use. Besides this, they assist in maintaining the aesthetics and safety of industrial facilities, roadways, and residential spaces by preventing the overgrowth of undesirable vegetation. As they are beneficial in maximizing the use of available land for productive purposes, the demand for herbicides is rising across the globe.
How Big Is the Herbicides Market?
The global herbicides market size reached US$ 33.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 45.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
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What are the growth prospects and trends in the herbicides industry?
At present, the increasing utilization of herbicides, as they reduce the risk of contaminating nearby crops or natural habitats, represents one of the key factors impelling the growth of the market. In line with this, the rising focus on improved soil health, reduced erosion, and enhanced soil structure is strengthening the market growth.
Moreover, the escalating demand for herbicides to protect crop yields is offering a favorable market outlook. In addition, the increasing adoption of sustainable farming practices to minimize environmental impact is providing lucrative growth opportunities to industry investors. Apart from this, advancements in herbicide formulation to enhance efficacy and precision are supporting the market growth. Furthermore, the rising employment of herbicides for controlling invasive plant species that threaten native ecosystems and biodiversity is contributing to the growth of the market.
Additionally, increasing preferences for organic and environment-friendly products among individuals are propelling the market growth. Besides this, the rising employment of herbicides in integrated pest management is bolstering the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Synthetic
- Glyphosate
- Atrazine
- 2,4-Dichlorophenoxyacetic Acid
- Acetochlor
- Paraquat
- Others
- Bio-Herbicides
Breakup by Mode of Action:
- Selective Herbicides
- Non-Selective Herbicides
Breakup by Application:
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Turf and Ornamentals
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- 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 Co. Inc.
- FMC Corporation
- Heranba Industries Ltd.
- Nissan Chemical Corporation
- Nufarm
- Sumitomo Chemical Co. Ltd.
- Syngenta Group
- UPL Limited
- 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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