CLEVELAND, Feb. 8, 2023 /PRNewswire/ — Decades of herbicide overapplication in nearly every major market have contributed to the proliferation of weed populations that are highly resistant to herbicides, including glyphosate, the dominant herbicide active ingredient. To combat these weeds, pesticide users will have to continue to increase the number of herbicide applications in a season, or turn to improved herbicide formulations.
A new Freedonia Group analysis finds that rising use of these improved formulations will promote gains in the global herbicide market through 2025. Many new herbicide formulations are more expensive, and include multiple active ingredients and improved adjuvant blends.
Global Herbicide Market to Expand 3.3% Annually Through 2025
The Freedonia Group projects global demand for herbicides to rise 3.3% per year to $39.9 billion in 2025; over the same period, demand for herbicide active ingredients is projected to increase 2.2% per year to 4.0 million metric tons. Gains will be primarily supported by rising demand from the dominant agricultural market due to:
- greater herbicide resistance in weed populations
- increasingly intensive agricultural practices in Central and South America and the Asia/Pacific region
- improved access to newer, improved herbicide formulations and herbicide use education in developing markets
The best opportunities for nonagricultural herbicides are expected in countries with expanding middle classes and increasing cultural emphasis on attractive outdoor spaces.
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Global Herbicides, now available from The Freedonia Group, analyzes the world market for herbicides – which include pre-emergent and post-emergent types, and selective and non-selective herbicides – by global region and country. Markets analyzed are:
- agriculture
- commercial (including industrial)
- consumer
Historical data for 2010, 2015 and 2020, and forecasts to 2025 and 2030 are provided for demand in current (including inflation) US dollars and/or metric tons of active ingredient. Active ingredients include:
- glyphosate
- atrazine
- 2,4-dichlorophenoxyacetic acid (2,4-D)
- other herbicide active ingredients (e.g., S-metolachlor, acetochlor, dicamba, glufosinate, pendimethalin, paraquat, metribuzin, trifluralin, acifluorfen, lactofen, and fluometuron)
About the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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Corinne Gangloff
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SOURCE The Freedonia Group
