The global herbicides market was USD 2061.94 Million in 2016 is expected to grow even further during the forecast period from 2017 to 2022. Herbicides constitute the largest category of pesticides accounting for more than 40% of market share.
“Glyphosate is one of the most widely sold active ingredients in the herbicide market. Glyphosate, under the brand name of Roundup from Monsanto is one of the largest selling herbicide brand in the world.”
With the rising labor cost and increasing shortage of labor, farmers are inclined to use herbicides. The most commonly used synthetic herbicides include 2, 4-D, atrazine, glyphosate, glufosinate ammonium, paraquat, pendimethalin, dicamba, fluroxypyr, and metalochlor. Many countries are banning the use of synthetic herbicides, in 2015 Germany, France and Switzerland had joined the global glyphosate banning movement. Health professionals in Brazil and Argentina are also filing petitions for banning this herbicide based products. Herbicides current market conditions in EU will lead to slow market growth in this segment. Also, Canada, Brazil, Srilanka, and The Netherlands are also expected to impose restrictions or bans on glyphosate, the main ingredient in Monsanto’s Roundup weed killer, the most heavily used pesticide in the United States. This will lead to a slowdown in glyphosate sale, however, bioherbicides are offering promising alternatives to synthetic herbicides. The growing demand and increasing R&D on bioherbicides will drive the market growth of the segment.
Herbicides market has been broadly segmented into product type-synthetic herbicides and bioherbicides. It also analyzes the global market for herbicides by application area, including Crop-Based Applications (Grains & Cereals, Oilseeds, and Fruits & Vegetables) and Non-Crop-Based Applications (Turf & Ornamental Grass and Other Applications). Synthetic herbicides dominate the global scenario in terms of volume consumption and value demand. By application area, crop-based end-uses of herbicides are likely to maintain the fastest growth in terms of volume consumed and value demand during the similar period and retain the leading ranking in terms of the largest application area. Despite being the largest market for pesticides, demand growth in North America is likely to be the slowest, while South America followed by Asia Pacific is expected to emerge as the fastest growing market.
Key Companies Included in the Report are:
New product registrations, acquisitions, and mergers are the key strategies followed by the major companies in the industry. The focus in this industry should be on integrated pest management techniques and sustainable practices for an improved yield without harming the environment.
Key Deliverables in the Study
The report holds importance for the following stakeholders-