Chemicals

What Are The 5 Top Insights From The Herbicides Market Forecast 2024

December 29, 2023 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Herbicides Global Market Report 2024, the herbicides market is expected to show significant growth in the forecast period.

The herbicides market has experienced remarkable growth, evolving from $40.16 billion in 2023 to an estimated $45.42 billion in 2024, boasting a robust Compound Annual Growth Rate (CAGR) of 13.1%. Anticipating continued expansion, the market is projected to reach $72.64 billion by 2028, driven by global population growth, weed resistance management, and the adoption of precision agriculture. Explore the factors fueling this surge and the key trends reshaping the herbicides landscape.

Rising Outbreaks of Pests Fueling Herbicides Market Growth

Pest Outbreaks Impacting Agriculture

The surge in pest outbreaks, causing widespread harm to crops and livestock, has become a significant driver for the herbicides market.

Global Economic Impact

According to the Food and Agriculture Organization (FAO), pest-related losses account for up to 40% of global crop production, resulting in substantial economic repercussions.

Dual Purpose of Herbicides

Farmers are increasingly turning to herbicides not only for weed control but also to combat pests, highlighting the dual-purpose role of herbicides in agriculture.

View More On The Herbicides Market Report 2024 – https://www.thebusinessresearchcompany.com/report/herbicides-global-market-report

Product Innovations Reshaping the Herbicides Market

Clariant’s ADJUWEX: Precision Herbicide Formulation

Clariant AG, a Swiss chemical company, launched ADJUWEX in March 2022, a product designed to customize effective glufosinate herbicide formulations for specific agricultural conditions.

Tackling Modern Challenges

ADJUWEX addresses contemporary challenges related to weed control and regrowth, offering tailored solutions considering climate, soil, crop type, and application conditions.

Integration of Modern Technologies

ADJUWEX accommodates modern application methods such as drone technology, aligning with the industry’s push towards precision farming practices.

Market Segmentation for Diverse Applications

Types of Herbicides

The herbicides market encompasses a variety of types, including Synthetic and Bio-Based herbicides, catering to the diverse needs and preferences of farmers.

Mode of Action

Herbicides are classified based on their mode of action, with Selective and Non-Selective options providing flexibility in addressing specific agricultural requirements.

Applications Across Sectors

The application of herbicides spans various sectors, including Grains and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, Turf, and Ornamentals.

Anticipated Trends: Shaping the Future of Herbicides

Sustainable Weed Management

The forecast period witnesses a strong trend towards sustainable weed management, reflecting the growing emphasis on environmentally conscious and sustainable agricultural practices.

Precision Application Technologies

The adoption of precision application technologies is on the rise, marking a shift towards efficient and targeted herbicide use for optimal results.

Biological Herbicides and Organic Alternatives

A notable trend is the increasing interest in biological herbicides and organic, non-GMO herbicides, aligning with the broader movement towards organic and sustainable farming practices.

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The Herbicides Global Market Report 2024 provides an in-depth analysis on the herbicides market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the herbicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Fungicides Global Market Report 2024

Agrochemicals Global Market Report 2024

Biopesticides Global Market Report 2024

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