Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- Global Herbicides Market Size, Status And Forecast 2020-2030
The Herbicides market consists of sales of herbicides.Herbicides are commonly known as weed killers and are chemical substances used to control unwanted plants.
The global herbicides market was worth $ 32.64 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 13% and reach $51.47 billion by 2023.
The herbicides market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 42% of the market.
The Herbicides market covered in this report is segmented by type into synthetic, bio based. It is also segmented by application into grains & cereals, pulses & oilseeds, commercial crops, cruits & vegetables, turf & ornamentals
World population is growing and is expected to reach 10 billion by 2050 , this is expected to significantly boost the herbicides market. Increase in population creates more demand for food. Crop production, farming activities and trade volumes will have to increase in order to meet increased population . Additionally, farmers and commercial farming companies will increase acquisitions in arable land to increase crop production, this is expected to increase the demand for herbicides.
Major players in the market are Adama Agricultural Solutions Ltd, Basf Se, Bayer Ag, Dowdupont, FMC Corporation, Nufarm Limited, Syngenta, The Dow Chemical Company, E.I. Du Pont De Nemours And Company, Monsanto Company
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The usage of synthetic herbicides are leading to different complications in humans as well as animals. Generally, herbicides are single substance or mixture of substances used to control, destroy and repel weeds growth. Most of the herbicides causes breathing, digestion problems and skin irritation due to the presence of chemical substances in it. According to an Australian study, workers exposed to herbicides are more likely to develop diseases related to breathing. The problems developed by humans and animals due to usage of synthetic herbicides limits the growth of herbicides market.
The herbicides market has registered a significant increase in mergers and acquisitions over the last 5 years. Such collaborations are mainly aimed at expanding the product range or distribution networks. This can also be attributed to low food commodity prices which affect pesticides manufacturers and distributors leading to industry consolidation. For example, in February 2017, ChemChina acquired Syngenta AG for a total of $43 billion. Following this, the Chinese herbicides market is expected to increase in productivity and gain a dominance in global prices . Furthermore, in September 2017, California-based American Vanguard Corporation, acquired Pennsylvania-based OHP, Inc., a leader in herbicide solutions, especially for greenhouse and nursery applications, with a wide network of distributors across the USA and South America . Lastly, in 2018, Bayer acquired Monsanto for $63 billion.
In June 2018, Bayer AG, a German-based pharmaceutical and life sciences company that produces and markets healthcare and agricultural products such as crop protection products and polyurethanes acquired Monsanto for $63 billion. The acquisition helped Bayer AG in becoming a global leader in agriculture with diversified portfolio of product offerings and tailor-made solutions to farmers in all geographies. Monsanto is a US-based agricultural biotechnology company that specializes in developing herbicides and offers products such as corn, soybean, cotton, wheat, and vegetable seeds.
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Influence of the Herbicides market report:
-Comprehensive assessment of all opportunities and risk in the Herbicides market.
-Herbicides market recent innovations and major events.
-Detailed study of business strategies for growth of the Herbicides market-leading players.
-Conclusive study about the growth plot of Herbicides market for forthcoming years.
-In-depth understanding of Herbicides market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Herbicides market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Herbicides Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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