The market
Weeds pose a significant challenge for agriculture. They are estimated to cost New Zealand agriculture and forestry at least NZD $1.7 billion, Australia agriculture AUD $3.3 billion and US agriculture USD $33 billion per annum.
The global herbicide market was valued at US $40 billion in 2023. AgResearch has estimated a market of $6.4 billion per annum in selected farming segments and countries. This includes focusing on horticulture, oilseed and rice markets. In addition to addressing problems in New Zealand, we are also looking into solutions for the US, Australia and South-East Asia.