PUBLISHER: Grand View Research | PRODUCT CODE: 1588474
PUBLISHER: Grand View Research | PRODUCT CODE: 1588474
The global herbicides market was estimated at USD 39.5 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. Several factors are driving the increased use of herbicides in agriculture. One significant factor is the rise of genetically engineered crops, particularly those that are resistant to specific herbicides. This innovation allows farmers to apply herbicides like glyphosate without harming their crops, leading to more efficient weed control and higher productivity. The widespread adoption of herbicide-resistant varieties has transformed weed management practices, making herbicides a preferred choice for many farmers.
In China, the agricultural landscape has undergone significant transformation, driven by the need for enhanced productivity and efficiency. As the country strives to meet the demands of its growing population, farmers increasingly turn to chemical solutions to manage pests and weeds that threaten crop yields. This reliance on synthetic substances has become a critical component of modern farming practices, enabling farmers to maximize their output while minimizing losses from competition with unwanted plants.
In addition, economic considerations play a crucial role in herbicide adoption. Farmers often evaluate herbicides' cost-effectiveness compared to traditional weed control methods, such as manual weeding. The potential for increased yields and reduced labor costs makes herbicides attractive. Furthermore, advancements in agricultural technology, including precision farming techniques, have enhanced the efficiency of herbicide application, allowing for targeted use that minimizes environmental impact while maximizing effectiveness.
Several key factors contribute to the rising use of these chemical agents in Chinese agriculture. One major influence is the shift from subsistence farming to more commercialized agricultural practices, which has led to a greater emphasis on maximizing crop yields. Additionally, the introduction of genetically modified crops that are resistant to specific chemicals has facilitated their widespread application, allowing farmers to effectively control pests without damaging their crops. Economic pressures, including the need for higher productivity and profitability, further drive the adoption of these solutions across the agricultural sector.
Global Herbicides Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global herbicides market report based on type, application of mode & region.