Herbicides Global Market To Reach Value Of About $47 Billion In 2025

14 Oct, 2021

The herbicides market consists of sales of herbicides. Herbicides are commonly known as weed killers and are chemical substances used to control unwanted plants. Herbicides market consists of sales of herbicides. Herbicides are commonly known as weed killers and are chemical substances used to control unwanted plants.

Global Herbicides Market Size And Drivers:

The global herbicides market is expected to grow from $33.65 billion in 2020 to $35.72 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $47.09 billion in 2025 at a CAGR of 7%. World population is growing and is expected to reach 10 billion by 2050 and this is expected to significantly boost the herbicides market during the forecast period.

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Trends In The Global Herbicides Market

The herbicides market has registered a significant increase in mergers and acquisitions over the last 5 years. Such collaborations are mainly aimed at expanding the product range or distribution networks. This can also be attributed to low food commodity prices which affect pesticides manufacturers and distributors leading to industry consolidation. For instance, in December 2019, American Vanguard Corp., an agricultural products company acquired four herbicide brands Classic, First Rate, Hornet and Python from Corteva Agriscience for an undisclosed amount. The acquisition will help American Vanguard to expand its crop protection business. Furthermore, in June 2018, Bayer acquired Monsanto for $63 billion.

Global Herbicides Market Segments:
The global herbicides market is further segmented –
By Type: Synthetic, Bio Based
By Application: Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Turf & Ornamentals
By Mode Of Action: Selective, Non-selective
By Geography: The global herbicides market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Herbicides Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides herbicides market overviews, analyzes and forecasts market size and growth for the global herbicides market, herbicides market share, herbicides market players, herbicides market segments and geographies, herbicides market’s leading competitors’ revenues, profiles and market shares. The herbicides market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.