Global Herbicides Market was valued at US$ 19.56 Bn in 2019 and is forecasted to reach US$ 32.45 Bn by 2027 at a CAGR of 6.53% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Herbicides find their potential applications for controlling or destroying a wide range of weeds and boost the active growth of the desired plants. Herbicides play a vital role in improving the nutrition of plants and controlling soil erosion hence boosting their demand. A decrease in manual and mechanical weeding in developing economies has resulted in the uptake of herbicides among farmers.
However, the adverse impact of some herbicides on aquatic life and their excessive exposure to workers may cause health problems. This has directed to numerous regional regulations restrictions on the use of certain herbicides. But, the advent of bio-based products has unlocked substantial lucrative opportunities in the market. Furthermore, research on understanding the biochemical action of herbicides on plants has led to chemicals with better toxicity profiles.
Glyphosate-based products are widely adopted in various forms such as gels and powders, which are more convenient to use. The decline in arable land and increasing population is increasingly intensifying the demand for effective weed-control phytotoxic chemicals. But, the ban of glyphosate in parts of Europe is hampering the market growth.
Selectivity is based on differential absorption, translocation, morphological or physiological differences between classes of plants. Non-selective held the largest market share in the herbicides market. Since non-selective herbicides are formulated for both broadleaf and grass weeds, they find the wider application on almost all vegetation types and are preferred more than selective herbicides. Selective types are manufactured for controlling only certain plants without destroying the other species.
Herbicides are applied most to cereal crops to control weeds. Cereals are grown broadly across the world, but growth is projected to be higher in the Asia-Pacific region due to increased consumption of rice in daily diets. The market is attributed to growing further due to producers’ focus on increasing the per-unit yield. Oilseed & pulses segment is the second-largest followed by Fruits & vegetables and cotton.
The Asia Pacific has a major market share in the herbicides market owing to higher production and intake, growing population, and disposable income. Latin America led by Brazil and Argentina has a considerable share with expansion in farmlands and awareness among farm cultivators about its benefits. Stringent government regulations in Europe and the U.S. are anticipated to restraint market growth in these regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding herbicides’ market dynamics, structure by identifying and analyzing the market segments and project the market size.
Further, the report also focuses on a competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the herbicides market.
Scope of the Global Herbicides Market
Global Herbicides Market, by Product:
• Glyphosate
• Atrazine
• Acetochlor
• 2,4-D
• Paraquat
• Bio-herbicide
• Others
Global Herbicides Market, by Mode of Action:
• Selective
• Non-selective
Global Herbicides Market, By Crop Type:
• Cereals and Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Cotton
Global Herbicides Market, By Region:
• North America
• South America
• Asia-Pacific
• Europe
• Middle East & Africa
Key Player Analyzed in the Report:
• BASF
• Bayer AG
• DOW Agriscience
• Syngenta AG
• Cheminova A/S
• FMC Corporation
• Adama Agricultural Solutions Ltd
• Nufarm
• E.I Du Pont de Numerous
• Company and Monsanto Company
• Monsanto Company
• Drexel Chemical Company
• Arysta LifeScience Corporation
• ADAMA Agricultural Solutions Ltd
• Sumitomo Chemical
• UPL Limited
• Heranba Industries Ltd.
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