Global Herbicides Market Size, Share, Growth Analysis, By Type(Glyphosate, Diquat), By Crop Type(Cereals & Grains, Oilseeds & Pulses), By Mode of Action(Non-Selective, Selective) - Industry Forecast 2024-2031

Herbicides Market size was valued at USD 30.32 billion in 2019 and is poised to grow from USD 31.59 billion in 2023 to USD 45.75 billion by 2031, growing at a CAGR of 4.2% in the forecast period (2024-2031).

Herbicides are a type of pesticide that is used to suppress weeds during cultivation. Herbicides, often known as weedkillers, are classified into two types: selective and non-selective herbicides. Non-selective herbicides can be used to clear industrial and construction sites, railways, and railway ridges since they destroy all plant material with which they come into contact. Selective herbicides control specific weed species while leaving the desired crop intact. Herbicides are used to increase agricultural output by eradicating undesired plants and weeds in the plantation. As a result, the increased desire for high agricultural productivity to meet global food demands supports the expansion of the herbicides industry. Furthermore, the increase in population and disposable money in a growing region such as Asia-Pacific boosts the need for herbicides. However, the risks connected with synthetic herbicides result in tight herbicide regulations, which significantly impedes the growth of the global herbicides market.

US Herbicides Market is poised to grow at a sustainable CAGR for the next forecast year.