Since 2013, the sales volume of phenoxy-phytohormones herbicides in Austria has seen significant fluctuations. After a dramatic year-on-year decrease of 40.16% in 2013, there was a sharp increase of 49.7% in 2014. Over the next few years, the market experienced a mix of declines and increases, with a notable rise of 33.24% in 2018, and a significant decline of 45.28% in 2019. From 2019 to 2023, the market continued to contract, with 2023 standing at 83.82 thousand kilograms, recording a year-on-year decrease of 5.52% and a CAGR of -11.71%.
The forecasted data indicates a continued downward trend: from 2024 through 2028, the sales volume is expected to decrease annually, with a forecasted five-year CAGR of -5.33%, leading to an overall decline of 23.95% by 2028. This indicates ongoing challenges in the market.
Future trends to watch for:
- Potential regulatory changes impacting herbicide usage.
- Shift towards sustainable and eco-friendly agricultural practices.
- Impact of technological advancements in herbicide formulations and precision agriculture.
- Market dynamics influenced by global trade and economic conditions.
- Consumer demand for organic produce and reduced chemical use in farming.
