World Herbicides Market Projected to Grow at CAGR of 5.9% by Forecast to 2023

World Herbicides Market
Herbicides Market Information– by Active Ingredients (Glyphosate, 2, 4-D, Atrazine, Dicamba, Diquat, Acetochlor), Type (Pre-Plant, Pre-Emergent, and Post- Emergent Herbicides), Method of Application (Soil and Foliar), Application (Oilseeds & Pulses, Cereals & Grains, Fruits & Vegetables) and Region – Forecast till 2023

Market Overview:

Herbicides Market is projected to grow at a CAGR of 5.9% over the forecast period. Herbicides are crop protection material used to kill unwanted plants. The most commonly used herbicides include Glyphosate, 2, 4-D, Atrazine, Dicamba, Diquat, Acetochlor, and others. They are used in oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Herbicides are either pre-plant, pre-emergent or post- emergent. Post emergent are further classified into selective herbicides which kill specific unwanted plants while leaving desirable vegetation relatively unharmed and non-selective herbicides which kill all or most plant species. They can be applied directly to the plant, applied to the soil, or sprayed onto the foliage.

Asia Pacific is dominating the market and is expected to have a substantial growth over the forecast period 2017-2023. In Asia Pacific, continuous rise in population is increasing demand for high agricultural productivity and driving the growth of global herbicides market. India and China, two of the largest countries in terms of population are majorly contributing the growth of herbicides in this region.

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Change in farming practices and technology in developing countries is boosting the growth of herbicides market in Asia Pacific. However, several environmental and health hazards caused due to herbicides is restraining the growth of the market. Nevertheless, all these factors will lead to the growth of Asia Pacific market at a CAGR of 6.4% during the forecast period 2017-2023.

Major Key Players:

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major herbicides players. It further includes product portfolios, developments of leading players, which includes

  • BASF SE (Germany)
  • The Dow Chemical Company (U.S.)
  • Monsanto Company (U.S.)
  • FMC Corporation (U.S.)
  • Bayer AG (Germany)
  • Agrium Inc (Canada) and
  • PI Industries (India)

Key Findings:

Bio based herbicides are expected to offer huge growth opportunity in North America and Europe.

Synthetically produced herbicides are gaining popularity globally owing to low cost and higher efficiency

Segments:

Herbicides market is segmented on the basis of active ingredients such as Glyphosate, 2, 4-D, Atrazine, Dicamba, Diquat, Acetochlor, and others. Among them 2, 4-D is the first chemical herbicide discovered and remains one of the most commonly used herbicides owing to its low cost and effective usage. However, Glyphosate is the fastest growing segment. RoundUp, which is the most used herbicide globally contains active ingredient glyphosate.

Based on the type, herbicides market is segmented into pre-plant, pre-emergent, and post- emergent herbicides. The post-emergent herbicide is further segmented into selective and non-selective herbicides. Among all, post emergent herbicide is the fastest growing segment.

On the basis of method of application, herbicides market is segmented into soil and foliar. Foliar applied herbicides are dominating the market and is expected to grow substantially over the forecast period.

Based on the application of herbicides, the market is segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Among all, cereals & grains are dominating the market. However, fruits and vegetables are expected to witness substantial growth over the forecast period.

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Regional Analysis:

The global herbicides market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific dominates the market and is projected to continue growing over the estimated period. India and China, two of the largest countries in terms of population are majorly contributing the growth of herbicides in this region.

North America is the second largest consumer for herbicides. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restraint market growth in these regions. In rest of the world, South America is dominating the market.

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