Herbicides are pesticides used to control unwanted plants during cultivation. They are mainly used in agricultural production and turf management. The global herbicide market is expected to reach an overall market revenue of $7,998.9 million by 2025, by growing at a CAGR of 4.8% during the forecast period. They are mainly used in agricultural production and turf management.
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The global herbicides market is expected to grow significantly. The requirement of using herbicides to improve agricultural productivity by killing unwanted herbs and weeds in the plantation is increasing notably. Hence, rise in demand for high agricultural productivity to meet the global food demands majorly drives the growth of the herbicides market. Increase in population and growth in disposable income of a developing region such as Asia-Pacific is also one of the significant factors that increases the demand for herbicides. However, the hazards associated with synthetic herbicides lead to stringent regulations on the use of herbicides is expected to restrict the growth of the global herbicides market. The regulations lead to increase in the demand for bio-based herbicides. Ongoing R&D in the global herbicides industry is expected to offer future growth opportunities in the market. To meet the stringent regulations and to improve efficiency of herbicides, major players invest in R&D activities to develop new herbicides.
The global herbicides market is segmented based on type, mode of action, crop type, and region. Based on type, the market is bifurcated into synthetic herbicide and bio herbicide. Based on mode of action, the market is categorized into selective and non-selective herbicide. Based on crop type, it is divided into corn, cotton, soybean, wheat, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players analyzed in this report are BASF, Bayer AG, DowDupont, Syngenta AG, FMC Corporation, Adama Agricultural Solutions Ltd, and Nufarm Ltd.
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KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current trends and future scenario of the market from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets.
• Major countries in each region have been mapped according to their individual revenue contribution in the market.
• The key drivers, restrains, and opportunities and their detailed impact analyses are elucidated in the report.
• The profiles of key players competing in the herbicides industry along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
- By Type
ü Synthetic Herbicide
- By Mode of Action
- By Crop Type
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- By Region
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
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This post was originally published on Analytics News