The European herbicides market was valued at USD 8.46 billion in 2023 and is anticipated to reach USD 8.97 billion in 2024 from USD 14.29 billion by 2032, growing at a CAGR of 6% from 2024 to 2032.
Herbicides are pesticides used to kill unwanted plants while leaving the desired crop unharmed. Herbicides are also used to clear waste grounds as they will kill every plant they come in contact with. This process is called Turf Management. Based on Composition, Herbicides are divided into Synthetic Herbicides and Bioherbicides.
Some of the factors, such as the rising demand for high agricultural productivity, increasing Population, and rising disposable income, are driving the market. However, Synthetic Herbicides cause so many environmental hazards, which resulted in Strict regulations on the use of Herbicides. These regulations are one of the major factors restraining the market.
On the basis of Type, the market is segmented into Synthetic and Bioherbicides. Further, on the basis of Synthetic Herbicides, the market is further segmented into Glyphosate, 2, 4-D, Diquat, and Others. On the basis of Crop Type, the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others. On the basis of Mode of Action, market is further segmented into Selective, Non-Selective. The cereals and Grains segment accounted for the highest share of the market owing to the increased consumption of diets. Geographically, the European market is segmented into the U.K., Spain, Italy, Germany, and France. Europe is expected to grow significantly during the forecast period.
The Major Players in this market are BASF SE, The Dow Chemical Company, E.I. du Pont de Nemours & Company, Monsanto Company, Syngenta AG, FMC Corporation, Platform Specialty Products Corporation, Nufarm Ltd., Nissan Chemical Industries Ltd., Drexel Chemical Co.
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