The report “Herbicides Market by Type (Glyphosate, 2, 4-D, Diquat), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Action (Non-selective, Selective), and Region – Global Forecast to 2022″, The global herbicides market is estimated at USD 27.21 Billion in 2016 and is projected to reach USD 39.15 Billion by 2022, at a CAGR of 6.25% during the forecast period. The market is driven by factors such as adoption of better farming practices and rise in production of cereals & grains, especially in the Asia-Pacific region.
The years considered for the study are as follows:
- Base year: 2015
- Beginning of projection period: 2016
- End of projection period: 2022
Objectives of the report:
- To define, segment, and measure the herbicides market in both quantitative and qualitative terms
- To provide an analysis of opportunities in the market for stakeholders through the identification of high-growth segments
- To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contribution to the total market
- To understand the industry trends of the herbicides market along with a value chain and supply chain analysis
- To provide a strategic profiling of key players in the herbicides market and a comprehensive analysis of their core competencies
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The glyphosate segment, by type, is projected to have the highest CAGR during 2016 to 2022.
The glyphosate segment is projected to have the highest CAGR during the forecast period. This is due to the fact that glyphosate-based products are being widely adopted in various forms such as gels and powders, which are more convenient to use.
The cereals & grains segment accounted for largest market share in 2015.
Herbicides are applied on a wide scale to most cereal crops to control weeds. Cereals are grown widely across the world, but growth is projected to be higher in the Asia-Pacific region due to increased consumption of rice in the daily diets here. The global demand for herbicides in this segment is high and is projected to grow as producers are focusing on increasing the per unit yield.
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South American region dominated the herbicides market in 2015.
The South American region dominated the herbicides market in 2015. This is due to the emergence of South American countries as agricultural powerhouses, growing above the global growth average. Growth in this region is significantly contributed to by the growth in Brazil and Argentina. Economic growth in South America has been supported by democratization and economic reforms. Availability of arable land and expansion of farmlands, especially in Brazil and Argentina, are driving the growth in this market.
This report includes a study of development strategies, along with the product portfolios of the leading companies in the herbicides market. The key companies profiled are BASF SE (Germany), The Dow Chemical Company (U.S.), E.I. du Pont de Nemours & Company (U.S.), Monsanto Company (U.S.), and Syngenta AG (Switzerland), FMC Corporation (U.S.), Platform Specialty Products Corporation (U.S.), Nufarm Ltd. (Australia), Nissan Chemical Industries Ltd. (Japan), and Drexel Chemical Co. (U.S.).