Global Herbicides Market Overview:
As per a report by Food and Agriculture Organization of the United Nations, in the recent preceding years, arable land has augmented universally by only 155 million hectare or 11 percent of about 1.5 billion hectare recorded between 1960-1990. Such scarcity of arable land creates a demand for efficient farming practices, utilizing every section of the farming plot, thereby propelling demand in the herbicides market. Herbicides are known as weed killers and are chemical pesticides employed by the robustly growing and rapidly innovating agricultural sector to check unwanted floras adversely affecting the production of desired crop. Selective herbicides demolishes a specific weed species, with desired crop relatively left unharmed, on the other hand non-selective herbicides are applied to clear waste ground, industrial and construction sites, railway embankments as they execute all the plant materials coming in contact. As per the IndustryARC business intelligence report, the global herbicides market size was around $30 billion in 2018, and the market demand is projected to grow at a notable CAGR of around 8% during the forecast period of 2019 to 2025.
Global Herbicides Market Outlook:
After an acute analysis of the application segments, it is noted that herbicides find immense scope of application in several industries such as agriculture, landscaping and forestry. Swift and epidemic progression in the usage of organic herbicides in variety of crops such as rye, buckwheat, and oilseed radish is driving the herbicides market’s agricultural application segment. Keeping the soil healthy is an important aspect of weed control, which is highly possible using organic herbicides. Herbicides also prevents soil erosion as well as water loss. Owing to such circumstances, the analyst in this research report has stated the agriculture sector to be the chief employer of herbicides market with demands from this sector growing at a CAGR of around 5% going through 2025.
Herbicides have a global demand but APAC is the fastest growing regional market with a global CAGR of more than 40% which is mainly attributed to the impeccable agricultural lands and number of consumers in India and China. FICCI (Federation of Indian Chambers of Commerce & Industry) stated that Indian agriculture sector contributes approximately 14% to India’s GDP. And Organisation for Economic Co-operation and Development revealed that China has 21% of global population in its territory along with 9% of universal arable land.
Global Herbicides Market Growth Drivers and Recent Trends:
In the recent years, the world has witnessed unprecedented demand from the robustly growing F&B sector owing to rapidly increasing world population. Traditional farming techniques are time consuming and less economical in terms of labor costs, and global reduction in farming lands further adds to the dilemma. To combat and deliver under such crucial circumstances, employment of efficient farming commodities such as herbicides by agricultural sector is inevitable
Increasing trend of tourism has fashioned a global demand for well ornamented and aesthetically feasible landscape, which is a growing factor affecting the global herbicides market. Herbicides plays a vital role in maintaining grass lands free from broad leaf vegetation. Herbicides are applied to conserve park and farms. It is also finds application in golf courses to keep it away from undesired grass or plants. Herbicides are used in forest to attain the preferred yield of large trees and constraining the cultivation of undesired plant.
Global Herbicides Market Challenges:
The application of inorganic herbicides is beset with the substantial ecological hazards. For example, some herbicides have adverse effects on the aquatic organisms and their excessive contact may cause health problems to farmers. This has instigated the ban if herbicides by numerous regional regulations. Example- The use of phenoxy herbicides is restricted in Western Australia (WA) under the Aerial Spraying Control Act 1966 and the Agriculture and Related Resources Protection (Spraying Restrictions) Regulation 1979.
However, with the initiation of bio-based products the herbicides market has witnessed significant profitable avenues. Additionally, the persistent research and development on studying the biochemical feat of herbicides on plants has controlled the chemicals with better toxicity profile.
Global Herbicides Market Players Perspective:
Some of the major key players profiled in this business intelligence report are BASF, Bayer AG, DOW Agriscience LLC and Syngenta AG.
In May 2017, Syngenta AG, Syngenta AG is a Swiss-based global company that produces agrochemicals and seeds, entered the wheat herbicides market with its new Talinor cereals herbicides. The company recorded sales of $12.65 billion in 2017. This will be the first time when Syngenta AG will be entering into herbicides market and according to them, this will revolutionize the herbicide market as well. Well, the participation of such global giants in the herbicides market surely displays the caliber of this arcade to accommodate hefty returns.
Herbicides Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Herbicides Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of products in the Herbicides Market, and their specific applications in different phases of operations.
Herbicides Market Report: Industry Coverage
By Selectivity: Selective and Non selective
By Industry: Agriculture, Landscaping, Golf course, Forestry
By molecular nature: Organic and Inorganic
The Herbicides Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Herbicides Market Report
1. Is the market for Herbicides growing? How long will it continue to grow and at what rate?
2. Which type of Herbicides presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What is the current status of Herbicides application in different countries?
7. Which are the major relevant product segments within Herbicides?
8. Which type of segment will witness heavy adoption in the near future?
9. What are the short-term, long-term, and medium-term growth drivers for the market?
10. What are the short-term, medium-term, and long-term challenges for the market?
11. What are the short-term, medium-term, and long-term opportunities for the market
12. Who are the top players/companies of the market?
13. What are the recent innovations in the market?
14. How many patents have been filed by the leading players?
15. What are the types of patents filed by the leading players?
16. What is the futuristic scenario for the adoption of Herbicides?
17. What is our Vision 2030 Herbicides Market?
A few focus points of this Research are given below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future herbicides during the forecast 2018–2023
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures
IndustryARC Research Best Practices
The Herbicides Market size is evaluated based on the number of products per organization type along with the varying price points pertaining to specific applications. These were identified as key informational conjectures for market estimation in 2017/2018.
The Herbicides Market share is thoroughly checked against all data points that have been incorporated and rechecked against various data sources. Various C-level executives and key opinion leaders are contacted for verification of the data.
The Herbicides Market forecast and growth rate are achieved by applying the time series forecasting methodology on the various factors. The market forecast and growth rate are further backed with historical trends of the market along with a regressive mathematical model that assesses the value based on factors such as capital expenditure, equipment lifespan, R&D investments, and so on.
The Herbicides Market demand has been researched taking into account the prominent economies across the different geographic regions to understand their corresponding impact on the market.
The Herbicides Market drivers are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Herbicides Market challenges are evaluated for short-term, medium-term, and long-term based on the different market dynamics impacting the market.
The Herbicides Market trends have been analyzed taking into consideration the micro and macro trends prevalent in various geographies.
The Herbicides Market outlook provides a brief overview of the market performance and anticipated change in market dynamics.
The Herbicides Market analysis also involves the identification of new companies that have entered the market scenario and their impact on the market dynamics in the future.