Global Herbicides Market Is Anticipated To Expand At A CAGR Around 7.0% During 2017-2027

Press Release

Herbicides are pesticides that are used to kill undesired plants without harming plantation. Herbicides eliminates weed and also reduce the physical labor. Herbicide enhances the growth of crop by eliminating the growth of unwanted weed. Herbicides are toxic in nature and it may cause numerous health diseases with direct contact. Health effects ranging from skin rashes to death can result from intentional or unintentional direct consumption of herbicides. Herbicides prevent water loss and soil erosion. Herbicides are categorized on basis of various characteristics such as molecular structure, time of application, formulation, chemical nature etc. Herbicides are used to protect distinct variety of grains, oilseeds, cereals, vegetable crops from infestation of weeds.

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Market Size and Forecast

The global herbicides market is anticipated to expand at a CAGR around 7.0% during 2017-2027. The global herbicides market is anticipated to value at USD 30.0 Billion by 2027. Herbicides protect crops from attack of weeds and in turn support their growth. The development of new herbicides and development of technology has augmented the global herbicides market.

The global herbicide market can be segmented on the basis of type, crop type and mode of selection. The type segment is further sub-segmented into glyphosate, atrazine, acetochlor, paraquat, bio-Herbicide and 2, 4-D. Glyphosate herbicide is anticipated to lead the global herbicides market on the account of increasing application of glyphosate herbicide for controlling numerous type of weeds. The growing need for improving produce from the limited arable land accessible across the globe is increasing demand for controlling weed. This in turn increases the demand for herbicides across the globe.

By region, the global herbicides market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is the leading region for herbicides, followed by Europe and Asia Pacific. Asia Pacific is anticipated to observe high growth in the forthcoming years. In Asia Pacific, China and India are anticipated to contribute maximum market share on the account of high application of various herbicides. This is attributed to the changes in farming practices, robust development in agriculture sector, growing acceptance of modern farming in the region.

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Growth Drivers and Challenges

Major factors contributing the overall market growth of herbicides include limited availability of cultivable land, change in farming practices and increasing acceptance of advanced farming. Additionally increasing demand for food coupled with growing population is anticipated to boost the global herbicides market. The low cost and high efficiency of synthetically produced herbicide is expected to further augment the demand for herbicides globally. There is increasing demand for herbicides on the account of rapid infrastructural expansions which reduces the area of arable land available across the globe.

The increasing concern towards genetically modified crops is the major restraint for herbicides market. Additionally, stringent regulations are anticipated to hinder the market growth of herbicides.

Key Players

Chemtura Corporation
Dow Chemical Company
Cheminova A/S
BASF
Monsanto Company
Nissan Chemical Industries Ltd
Syngenta AG
Drexel Chemical Company
E.I. Dupont De Nemours & Company
Nufarm Limited
FMC Corporation
Marrone Bio Innovations Inc.
Valent Biosciences Corp
Wilbur-Ellis Company

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