Glyphosate, a glycine derivative broad-spectrum & non-selective herbicide holds the largest market share among other herbicides, globally. Furthermore, it kills weeds more effectively without affecting crops compared to other commercially available herbicides. Renowned chemical manufacturers such as DuPont and BASF are manufacturing glyphosate under brand names Abundit Extra, KIXOR, respectively. However, usage of 2,4-D, is banned in countries such as Canada, Denmark and Norway due to the high level of dioxin contamination and risk of spreading cancer. Currently, the usage of organic herbicide, as a replacement of 2,4-D, is being considered globally; although, the effectiveness of organic herbicides to control weed is still under research.
Herbicides Market was valued at US$ XX Mn in 201X and expected to grow at X% Compound Annual Growth Rate (CAGR) over 201X to 202X
Increase in demand for food products, rise in the product yield and quality with reduced chemical hazards, government initiations taken for sustainable agricultural practices, and increase in awareness among the farmers about the herbicides are anticipated to propel the herbicides market over the forecast period. Moreover, wider range of advantages of herbicides, low R&D costs, and easier residue management are boost the herbicides market over the forecast timeframe. However, risk of toxic metabolites by microbes, high cost of the herbicides, and lesser availability of products are hinder the growth of herbicides market over the forecast period.
Currently, bio herbicide is a niche segment of the global herbicides market. These are composed of microorganisms such as fungi, bacteria and insects that can target only specific weeds without harming actual crops. Currently, commercial production of such herbicide is very low. However, due to lack of chemical toxicity & milder effect on environment, popularity of bio herbicide as compared to synthetic herbicide is growing. Considering the potential of bio herbicides, companies such as Bioherbicides Australia, are focusing on R&D and commercializing bio herbicides. Myco-Techpaste and Sarritorare, two Canadian brands of bio herbicides, which are currently commercially available.
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Competition Assessment: Herbicides Market
Some of the players in Herbicides Market
• The Dow Chemical Company (U.S.)
• BASF SE (Germany)
• DuPont (U.S.)
• Syngenta AG (Switzerland)
• Monsanto Company (U.S.)
• FMC Corporation (U.S.)
• Nufarm Ltd. (Australia)
• Platform Specialty Products Corporation (U.S.)
• Nissan Chemical Industries Ltd. (Japan)
• Drexel Chemical Co.(U.S.)
Herbicides Market is segmented as Latin America, Europe, Asia Pacific, North America, and The Middle East and Africa. Herbicides market is led by India and China owing to high consumption of agricultural products, high dependence on agriculture income, and increase in disposable income, presence of large pool of population, growing agriculture exports. North America holds second largest position followed by Europe due to the high inclination towards healthy diet, demand for organic food grains, high awareness regarding healthcare concerns, although strict environment regulatory protocols may restrain the growth of herbicides market in North America and Europe.
Precision Business Insights (PBI) in its report titled “Herbicides Market”: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 20XX-20XX and Forecast 20XX-20XX” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast.
Market Scope: Herbicides Market
The Herbicides Market is classified on the basis of type, mode of action, mode of application, crop type, formulation and region
Based on Type, Market is segmented into the following
• Chlorophenoxy Acid Herbicides
• Triazine Herbicides
• Organic Phosphorous Herbicides
Based on Mode of Action, Market is segmented into the following
• Broad Spectrum
Based on Crop Type, Market is segmented into the following:
• Permanent crops
• Arable crops
Based on Mode of Application, Market is segmented into the following:
Based on Formulation, Market is segmented into the following:
Based on Region, Market is segmented into the following
• Latin America
• Asia Pacific
• North America
• The Middle East Africa
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