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Herbicides Market Is expected Size to reach $47.8 billion by 2025 | OGAnalysis
Global trend towards higher yields, ongoing shift towards genetically engineered crops coupled with increased growth in herbicide resistant crops is forcing large scale entities to invest significantly on R&D activities.
New patents, product registrations and customized solutions are being launched by companies for improved crop protection, majorly for specific weed type and climatic conditions.
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Key drivers responsible for rapid emergence of Global Herbicides Market to $47.8 billion by 2025
Steady growth in agricultural output with focus on higher yields augmented with limited scope for expansion of arable land largely drives the herbicides market over medium to long term period.
The increased demand for productivity enhancement reflected by strong demand for food supply with minimized resource expenses predominantly drives herbicide market worldwide.
The increased herbicides resistance of crops coupled with strong demand for toxic-free and eco-friendly herbicides creates long-term opportunities for global herbicides market.
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More than 50% of Global Herbicides trade originates from top five countries
The major herbicides sales are concentrated in few markets including China, United States, Germany and France during 2018.
Increasing weed resistance to herbicides, emerging new type of weeds and growing awareness of herbicide applications coupled with widespread distribution and marketing channels are the key influencing factors for herbicide companies in the Chinese herbicides market.
In the United States, major application of herbicides is for agriculture activities, as the country accounted for up to three-fifth of regional market value during 2018.
Northern and eastern regions of Germany comprise of three-quarters of arable land and predominantly use herbicides to yield better crop production.
France is the largest herbicides market in Europe owing to significant cultivation of grains, vineyards, fruits and vegetables. While most of vineyards utilize glyphosate, bentazone is predominant in fruits and vegetables.
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Global Herbicides Market: Monsanto Company, Syngenta AG, BASF SE, DowDuPont and FMC are among key players modelling herbicides market
• Monsanto Company
• Syngenta AG
• DowDuPont
• FMC Corporation
• BASF SE
• E.I. Du Pont De Nemours and Company
• Platform Specialty Products Corporation
• Nufarm Limited
• Nissan Chemical Industries Ltd.
• Drexel Chemical Company
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