Report Description

As a consequence of the growing population worldwide, the demand for food and cereals has increased. However, agricultural production has not increased at a similar pace in response to the increasing population. Hence, it has become rather necessary to improve the crop yield worldwide. The market for herbicides, therefore, has been exhibiting steady growth over the past few years. Herbicides are chemicals used to prevent the growth of unwanted vegetation and weed that compete with crops for water and nutrients. The use of these chemicals is intended to help farmers maximize their crop yield.

For the purpose of the study, the global herbicides market has been segmented in terms of product type, crop, and region. Based on product, the market is segmented into acetochlor, glyphosate, atrazine, 2,4-D, and others (including dicamba, isoxaflutole, glufosinate, metolachlor, and imazapyr. In terms of crop, the report segments the market into cereal and grain, fruits and vegetables, oilseeds and pulses, and others (including grass, ornamental plant, floriculture, and turf). Furthermore, Asia Pacific, Europe, Latin America, the Middle East and Africa, and North America constitute the key regional markets for herbicides.

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Scope

The global herbicides market, which in 2014 stood at US$22.3 bn, is anticipated to reach US$38.3 bn by 2023. The market will therefore rise at a positive CAGR of 6.20% between 2015 and 2023. The market will be primarily driven by the rapidly increasing demand for grains spurred by the growing population.Asia Pacific dominates the global herbicides market in terms of volume

Key Players

Major players in the herbicides market include Bayer CropScience AG, Monsanto Company, Dow AgroSciences LLC, Syngenta AG, Nufarm Limited, ADAMA Agricultural Solutions Ltd., E. I. du Pont de Nemours and Company, FMC Corporation, BASF SE, and Sumitomo Chemical Co., Ltd.

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