Global Herbicides Market To Reach USD 36,204.6 Million By 2022
The Global Herbicides Market will
grow at a CAGR of 6.0% from 2017 to 2022 to reach USD 36,204.6 million by 2022,
according to this latest publication from Meticulous Research®. The
global herbicides market is primarily driven by growing need to increase crop
yield and quality, reduction of arable land, advanced agricultural practices
and technologies, and increasing crop yield losses due to weeds. However,
various environmental and human hazards with the use of chemical herbicides,
growing organic farming and demand for organic food, and stringent government
regulations expected to hamper the growth of this market to some extent.
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The global herbicides market is mainly segmented by
type, by mode of action, by formulation, and by mode of application. On the
basis of type, the market is segmented as chemical and biological, wherein
chemical herbicides segment is further divided into glyphosate, Diquat, 2,4-D,
atrazine, and others; on the basis of mode of action, the market is divided
into selective and non-selective herbicides; on the basis of formulation, the
market is divided into the liquid form and solid form; and on the basis of mode
of application, the market is segmented into spraying, dusting, soil treatment,
and others.
Based on the type, the chemical segment dominated
the overall global herbicides market in 2016 and is also estimated to continue
its dominance over the forecast period, owing to its increasing usage in
developing countries, easy availability, higher efficiency, and lesser costs
compared to bioherbicides. Moreover, in global chemical herbicide market, the
glyphosate accounted for the major share in 2016, as it is a generic herbicide,
easily available, and offers a wide range of benefits.
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On the basis of mode of application, spraying
application held the largest share in the global herbicides market in 2016,
owing to factors such as ease of application and its higher efficiency as
compared to other modes of applications. Based on crop type, the cereals &
grains commanded the largest share in the global herbicides market in 2016, owing
to the large production of row crops across the globe and increasing adoption
by farmers to control the yield loss due to weeds.
Geographically, the global herbicides market is
segmented into North America, Europe, Asia-Pacific, Latin America, and Middle
East & Africa. The regions are further segmented and analyzed at a country
level. Latin America accounted for the largest share in the global herbicides
market in 2016, followed by Asia Pacific and Europe region. The major share of
the Latin American region is mainly attributed to the large arable land,
increasing demand for crop yield & efficiency, adoption of new farming
practices and GM technology, and increasing crop yield losses due to weeds.
However, Asian countries are slated to register the fastest growth during the
forecast period, primarily due to the large area under agriculture cultivation
and growing population in the region which increases the use of various
pesticides for enhancing crop yield.
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The leading companies have employed various
strategies to expand their product and application offerings, global footprint,
and augment their market shares. The key strategies followed by most companies
in the global herbicides market were agreements, partnerships &
collaborations, new product launches, mergers & acquisitions, and
expansions. The key players in the global herbicides market are Bayer
CropScience AG, BASF SE, Syngenta (Subsidiary of ChemChina), FMC Corporation,
Monsanto Company (Part of Bayer), E.I. du Pont de Nemours & Company, Nufarm
Limited, Drexel Chemical Company, Arysta LifeScience Corporation (Part of
Platform Specialty Products), ADAMA Agricultural Solutions Ltd, Sumitomo
Chemical Co., Ltd, UPL Limited, and Heranba Industries Ltd.
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Meticulous Research®
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North America, Europe, Asia-Pacific, Latin America, and Middle East &
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