by The Weed Control Market is estimated to be valued at US$ 30.33 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Weed control market involves products such as herbicides, mechanical weeding equipment, and other auxiliaries used to remove unwanted weeds from the agricultural field. Herbicides are the most commonly used products in this market which includes pre-emergence and post-emergence herbicides. Major crops where weed control is applied include cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Changing agricultural practices and development of innovative herbicide formulations are driving the growth of this market.
Market Dynamics:
The weed control market is primarily driven by the two main factors:
1. Increasing Focus on Farm Production and Yield: Weeds pose a major threat to crop yield as they compete with crops for nutrients, water, and sunlight. Their uncontrolled growth can reduce crop yield by more than 50%. Thus, farmers are focusing on effective weed management strategies to maximize farm output. This is expected to propel the demand for weed control products over the forecast period.
2. Development of Bio-Based and Organic Herbicides: Conventionalsynthetic herbicides pose environmental and health hazards. As a result, manufacturers are increasingly developing bio-based and organic herbicides obtained from natural sources such as plant extracts with equal or better weed control efficacy. This shifts the industry trend towards sustainable weed management solutions and support market growth.
Segment Analysis
The global weed control market growth is dominated by the herbicides segment, which accounts for over 70% share. Herbicides are widely used for weed control in agricultural crops and non-agricultural settings such as lawns, gardens, sports fields and recreational areas. The herbicides segment is further divided into synthetic and bioherbicides. Synthetic herbicides dominate currently due to their effectiveness and ease of use, however bioherbicides are witnessing higher growth on account of rising preference for organic farming practices and increasing environmental consciousness.
PEST Analysis
Political: Stringent regulations regarding the use of certain chemical herbicides in many countries provides opportunities for bio-herbicides. Several governments also support organic farming which favors biocontrol over synthetic methods.
Economic: Growth in the agriculture industry worldwide along with demand for higher crop yields drives spending on weed control. Cost-effectiveness of herbicides also favors their adoption compared to manual methods.
Social: Increasing health and environmental concerns associated with long-term use of agrochemicals is boosting demand for natural and organic weed control products.
Technological: Advancements in herbicide formulations help reduce application rates and improve weed selectivity. Bioherbicides based on newer modes of action are also gaining prominence.
Key Takeaways
The global weed control market size was valued at US$ 30.33 bn in 2023 and is expected to grow at a CAGR of 5.8% during the forecast period.
The Asia Pacific region currently dominates the market and is expected to witness the highest growth during the forecast period owing to the rising agriculture activity and consumption of agrochemicals in major countries like India and China.
Key players operating in the weed control market are Bayer AG, BASF SE, Syngenta AG, Corteva Agriscience, FMC Corporation, Nufarm Limited, Dow AgroSciences, UPL Limited, Adama Agricultural Solutions, AMVAC Chemical Corporation, Valent U.S.A., Isagro S.p.A., Marrone Bio Innovations, Albaugh LLC, Drexel Chemical Company. Synthetic herbicides contribute the largest revenue currently, however bioherbicides are gaining increased prominence due to their environmental friendliness.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
