Asia Pacific to have a major share in the Weed Control Market
Asia Pacific will generate $11, 476. 47 million by 2023 growing at a CAGR of 4.8%. China dominates the Weed Control Market in Asia Pacific, followed by Australia, New Zealand, and Japan. India is expected to be the fastest growing region in the coming years. China ranks at the top in the production of rice, potatoes, tomato, sorghum, peanuts, cotton, and soy bean. It is self-reliant in supply due its huge production of pesticides. Bio pesticides have become popular in China due to growing number of registrations and approvals. The turf grass industry in China is growing rapidly due to the increasing needs for landscaping, which drives the growth of the weed killer.
Selected Analysis done in the full Report:
In 2017, the Agriculture segment reached $25,265.7 million. It is expected to generate $32,145 million by 2023 at a CAGR of 3.5%. It is an important sector for many economies. In recent times, the agricultural practices and technologies have improved in terms of yield. Pesticides are responsible for the growth in the yield in modern agriculture along with farm mechanization, GM crops, and corporate farming. Non-use of the herbicides can cause severe crop loss due to the fast spreading nature of weeds. In agriculture, weed control is carried out by crop specific and non-specific herbicides. The herbicide usage rate has an impact on the prevalence of lawn weeds and losses due to weeds.
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Excerpts on Market Growth Factors:
The need for higher crop yield and decrease in arable lands drives the growth of weed control.
Emphasis on public greenery and in developed countries enhances the demand for a strong weed killer.
Emphasis on pest and weed management leads to more demand for weed control in the coming years.
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Key players of the Weed Control Market:
Dow-DuPont, Syngenta-ChemChina, and Monsanto-Bayer are expected to dominate the Weed Control Market. Du Pont has its business in segments such as agriculture, nutrition and health, performance chemicals, and performance materials. Syngenta has increased its operational efficiency by the simplification of the manufacturing processes and reduction of the costs through lean manufacturing. Bayer and Monsanto have announced their agreement on the company acquiring Monsanto.
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