Herbicides Market was worth USD 27.21 billion in 2016 and is expected to reach USD 36.85 billion by 2021 with a CAGR of 6.25 %.

Hyderabad, India -- (SBWire) -- 02/07/2018 --According to a new market research report "Herbicides Market by Type (Synthetic (Glyphosate, 2, 4-D, Diquat, Others), Bioherbicides), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), Mode of Action (Non-selective, Selective) - Global Forecast to 2021", published by MarketDataForecast™, the market is expected to reach USD 36.85 Billion by 2021 from USD 27.21 Billion in 2016, at a CAGR of 6.25%.

Herbicides are artificial crop protection that kills unwanted vegetation corresponding to weeds that grow around planted crop. The unwanted plants thrive on nutrition provided to the most crop and therefore results in reduced crop production. Infrastructural development in many components of the globe resulting in declining within the arable land is additionally necessitating measures to maximise crop yield. This is often boosting the uptake of herbicides to stop unwanted vegetation to grow around main crops. However, ban on many weed killer products because of health and environmental hazards of herbicides, and increasing preference for the bio-based product are providing restraints to the market's growth.

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Glyphosate segment is estimated to account for the largest market share in 2016
On the basis of Type, the market is segmented into Synthetic and Bioherbicides. Further on the basis of Synthetic Herbicides, the market is further segmented into Glyphosate, 2, 4-D, Diquat, Others. The glyphosate segment is projected to possess the best CAGR throughout the forecast period. This is often because of the actual fact that glyphosate-based merchandise is being widely adopted in varied forms admire gels and powders, that is more convenient to use.

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The Cereals & Grains segment dominated the market in 2016

On the basis of Crop Type, the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others. Herbicides are applied on a good scale to most cereal crops to manage weeds. Cereals are full-grown wide across the globe and the growth is projected to be higher within the Asia-Pacific region because of inflated consumption of rice in the daily diets there. The world demand for herbicides during this section is high and is projected to grow as producers area unit that specializes in increasing the per unit yield.
Non-selective herbicides are estimated to command for the largest share of the market during the forecast period

On the basis of Mode of Action, the market is further segmented into Selective, Non-Selective. Cereals. Non-selective herbicides supported the mode of action and are projected to possess the very best CAGR throughout the forecast period. Since non-selective herbicides are developed for each broad-leaved and grass weeds, they realize the broader application of the majority vegetation sorts and well-liked quite selective herbicides.

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Latin America is estimated to command the largest share of the market
Based on region, the Herbicides Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Latin America dominated the Herbicides Market in 2016.This is attributed to the agricultural background the region possess.

Key players in the Herbicides Market include BASF SE, The Dow Chemical Company, E.I. du Pont de Nemours & Company, Monsanto Company, and Syngenta AG, FMC Corporation, Platform Specialty Products Corporation, Nufarm Ltd., Nissan Chemical Industries Ltd., and Drexel Chemical Co.

The scope of the report provides:
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Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
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