The global herbicides market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Herbicides are a category of chemicals which function to protect crops from weeds and unwanted plants that draw nutrition and destroy crops. They include chemical products such as 2, 4-D, atrazine, glyphosate, glufosinate ammonium and others, which are used in agriculture and horticulture.
The herbicides market can be broadly categorized into crop based and non-crop-based herbicides. Herbicides are pure chemical substances that are produced in minimal amounts and based on accurate requirements for their supposed application. Furthermore, production associated with herbicides and requires transformation of basic chemicals into complex ingredients.
Herbicides are further segmented based on source
- Synthetic herbicides
As herbicides are products used protect crops from weeds, demand from agriculture industry is expected to increase the growth of this market. Demand from agriculture and horticulture markets are actually increasing because of growing world population and increasing dietary needs.
Drivers and Restraints of Herbicides Market
Growing investments in the agriculture industry in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for herbicides market in the future. As agriproducts for every individual is a necessity and growing population increases the number of individuals in need of food, many multinational businesses are investing in the market.
Herbicides are exposed to immense domestic and international competition. Herbicides have stringent regulations when it comes to approvals, as they cause environmental pollution, especially land and water. Existing and future regulations concerning the use of certain herbicides in few countries are likely to challenge the market growth.
Herbicides Market by Region
Asia was the largest consumer of herbicides and this pattern is anticipated to continue to be identical over the following few years. Consumption in China and India is showing upward trend because of increase in population and demand for agriproducts. Growing demand for agriculture industry will drive herbicides market in Asia. With major production capacities in China, the region is likely to grow in terms of global supply capability. Consumption of herbicides in the Americas and Europe is likely to grow at a significant rate.
Top players in this market include American Vanguard, Arysta LifeScience, BASF SE, Bayer CropScience, BioWorks, Cheminova, Chemtura Corp, Chr Hansen, Dow AgroSciences, DuPont, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Marrone Bio Innovations, Monsanto, Natural Industries, Novozymes A/S, Nufarm Ltd, Sumitomo Chemical, Syngenta AG and Valent Biosciences.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth