Global Herbicide Market Report and Forecast 2024-2032

Global Herbicide Market Size

The global herbicide market is projected to grow at a CAGR of 3.9% during the forecast period of 2024-2032. The market is being driven by the growing focus on weed control.

Global Herbicide Market Outlook

The global herbicide market value is increasing amid the robustly growing agricultural sector, buoyed by the rising food demand. As per a United Nations report, the global population is expected to reach 10 billion by 2050, surging the demand for food. This is expected to surge the focus on enhancing crop yields, hence boosting the use of herbicides for weed control.

The growing focus on sustainable weed management is driving the usage of bioherbicides that are safer and greener alternatives to synthetic herbicides.  Improvements in the formulation, application, storage, and manufacturing of bioherbicides are expected to boost their demand. Moreover, advancements in genetic engineering are anticipated to drive the development of bioherbicides with enhanced effectiveness against weeds in the forecast period.

The Rising Demand for Selective Herbicides is One of the Crucial Herbicide Market Trends

• As per the herbicide industry analysis, the market is segmented by mode of action, with selective herbicides expected to lead the market with a compound annual growth rate (CAGR) of 4.3%. Selective herbicides are highly valued in agricultural practices for their ability to target specific types of weeds without harming crops, thereby maintaining crop health and yield. These herbicides are essential in major agricultural countries where precision and crop safety are critical.

• Non-selective herbicides follow with a projected CAGR of 3.5%, used extensively for complete weed control in various environments. Advancements in herbicide formulations and applications are making non-selective herbicides effective in a wide range of conditions, boosting the herbicide market revenue.

The Growing Requirement to Maximise Crop Yield is Driving the Herbicide Market Growth

• In terms of crop type, the grains and cereals segment is anticipated to dominate the herbicide market share, with a CAGR of 4.4%. This growth is driven by the global necessity to maximise yields of staple crops like wheat, rice, and corn through effective weed management practices.

• The pulses and oilseeds segment is projected to grow at a CAGR of 4.2%, reflecting the increasing cultivation and the need for efficient weed control to ensure high-quality yields.

• The fruits and vegetables segment is expected to grow at a CAGR of 4.0% during the forecast period of 2024-2032. The rising demand for high-quality produce and the necessity to manage diverse weed species effectively are providing lucrative herbicide market opportunities.

• Commercial crops, including cotton and sugarcane, are projected to grow at a CAGR of 3.7%, driven by the need for efficient weed management in high-value crops.

• Lastly, the turf and ornamentals segment is expected to grow at a CAGR of 3.5%, driven by the increasing use of herbicides in maintaining lawns, golf courses, and decorative plants for aesthetic and maintenance needs.

Global Herbicide Market Regional Analysis

• The market is projected to experience varied growth rates across different regions from 2024 to 2032. The Asia Pacific region is expected to lead the market with the highest compound annual growth rate (CAGR) of 5.1%. This significant growth is driven by increasing agricultural activities, rising demand for high-yield crops, and the adoption of advanced farming techniques in countries like China and India.

• The herbicides industry in the Middle East and Africa follows, with a CAGR of 4.2%, supported by substantial investments in agricultural development and the adoption of modern weed management practices.

• The herbicides demand growth in Latin America is expected to grow at a CAGR of 3.7%, reflecting the region's efforts to enhance agricultural productivity and modernise farming practices.

• North America remains a significant market with a projected CAGR of 3.2%, driven by technological advancements in herbicide formulations and high demand for efficient weed control solutions.

• Europe is projected to grow at a CAGR of 3.0%, driven by stringent regulations promoting sustainable agricultural practices and the increasing adoption of bio-based herbicides.

Herbicide Market Regional Insight

North America

USA: Projected to grow at a CAGR of 3.2%, driven by technological advancements and high demand for efficient weed control solutions.

Canada: Expected to grow at a CAGR of 3.7%, reflecting efforts to enhance agricultural productivity and support for sustainable farming practices.

Herbicides Industry Statistics in Europe

UK: Anticipated to grow at a CAGR of 3.6%, driven by strong policies promoting sustainable agriculture and the adoption of bio-based herbicides.

Germany: Expected to grow at a CAGR of 2.9%, supported by technological advancements and increasing adoption of herbicides in various crops.

France: Projected to grow at a CAGR of 2.7%, reflecting stable demand and advancements in herbicide technology.

Italy: Expected to grow at a CAGR of 2.4%, driven by efforts to modernise its agricultural sector and enhance crop yields.

Asia Pacific

India: Expected to grow at the highest regional CAGR of 5.8%, reflecting rapid agricultural growth and increasing adoption of herbicides.

The growth of the herbicide market in China is projected to grow at a CAGR of 4.8%, driven by significant agricultural activities and the adoption of advanced farming techniques.

Japan: Projected to grow at a CAGR of 3.0%, supported by technological advancements and investments in sustainable agriculture.

Australia: Expected to grow at a CAGR of 3.4%, driven by expanding agricultural activities and the adoption of modern weed management practices.

Latin America

Brazil: Projected to grow at a CAGR of 4.3%, supported by expanding agricultural activities and modernisation of farming practices.

Mexico: Expected to grow at a CAGR of 3.6%, reflecting ongoing efforts to boost agricultural productivity and modernise its infrastructure.

Middle East and Africa

Saudi Arabia: Projected to grow at a CAGR of 4.4%, reflecting significant investments in agricultural development and the adoption of advanced weed management practices.

Key Questions Answered in This Report:

• How has the global herbicide market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the global herbicide market?

• What are the key segments within the global herbicide market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the global herbicide market?

• Who are the key players in the global herbicide market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing herbicide market globally or regionally?

• How competitive is the global herbicide market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the global herbicide market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the global herbicide market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the global herbicide market?

• How sustainable are current growth rates in the global herbicide market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the global herbicide market, and how do they contribute to overall market growth?

• What are the economic factors influencing the global herbicide market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the global herbicide market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the global herbicide market?

• What are the regulatory and legal frameworks impacting the global herbicide market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the global herbicide market?

• What are the emerging market trends and niche opportunities within the global herbicide market that stakeholders should be aware of?

• How resilient is the global herbicide market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the global herbicide market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the Global herbicide market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the global herbicides industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the global herbicide market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the global herbicide market landscape.

Key Highlights of the Report