Herbicides Market Size 2019: Global Industry Analysis Report by Size,Price Trend

Posted by sarahbennu on August 8th, 2019

GLOBAL_HERBICIDES_MARKET_2019-2023.jpg (480×270)

Global herbicides market size is forecast to grow USD 8.91 billion during 2019-2023 at a CAGR of 6%, with the cereals and grains segment having the largest market share. This herbicides market analysis indicates growth will be driven by the increasing demand for glyphosate and will also be impacted by the increasing adoption of bio-herbicides

Increase demand for glyphosate

The need for glyphosate is increasing significantly, owing to its effectiveness on a wide range of weeds in food crops such as grains, fruits, pulses, cereals, and vegetables. It is commonly used for agriculture, horticulture, viticulture, and silviculture purposes, as well as garden maintenance. The effectiveness of glyphosate-based herbicide on annual broadleaf weeds and grasses has reduced the manual labor involved in the plowing of weeds. Therefore, the increasing demand for glyphosate will significantly drive the herbicides market growth during the forecast period.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report, including the market size and forecast, drivers, challenges, trends, and more.

Growing adoption of bio-herbicides

Bio-herbicides are gaining immense popularity as they reduce the dependency on chemical pesticides and are environment-friendly. They are the preferred choice of farmers as they help to increase yield by killing weeds, insects, and unwanted pests. The rising awareness of noxious synthetic herbicides is driving the adoption of bio-herbicide across the world. There is an increase in demand for bioherbicides due to their advantages, which include target-specific activity and minimal side effects. Therefore, the rising demand for bio-herbicides will propel the growth of the herbicides market size during the forecast period.

According to a senior analyst at Technavio, “Apart from the growing adoption of bio-herbicides, other factors such as the rising population and the ever-increasing demand for food, will have a significant impact on the growth of the herbicides market size during the forecast period.”

Regulatory laws and obligations

Vendors operating in the agrochemicals and crop control chemicals market must adhere to rules and regulations, which are governance codes for the global herbicides business. These guidelines focus on preventing the negative impact of chemical herbicides on the environment and native species. These regulations and restrictions on synthetic herbicides are expected to reduce the consumption of harmful and hazardous chemical herbicides during the forecast period. This will lead to an increase in demand for bio-herbicides in the coming years.

Top players in the global herbicides market:

  • BASF
  • Bayer
  • DowDuPont
  • ICL
  • Nutrien
  • Syngenta

Some of the key topics covered in the global herbicides market include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

Like it? Share it!


sarahbennu

About the Author

sarahbennu
Joined: July 1st, 2019
Articles Posted: 259

More by this author