Published Date : Dec 27, 2017
ALBANY, New York, Dec 27, 2017: A new research study by MarketResearchReports.biz provides an all-inclusive assessment of the global market for herbicides. The report, titled “Herbicides Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025,” analyzes the market potentials, prominent trends, growth boosters, obstacles, opportunities, and the challenges to determine the future prospects and performance of this market. According to the research report, the augmenting need to increase the production of agricultural crop to feed the ever-increasing population across the world is the prime factor behind the significant growth of the global market for herbicides.
In this research study, the global herbicides market has been evaluated on the basis of the product, the application, and the geography. Based on the product, the market has been segmented into acetochlor, glyphosate, 2,4-D, and atrazine. Among these, glyphosate has surfaced as the key product segment in terms of both, value and volume. Over the forthcoming years, the segment is likely to remain the leading contributor to the global market, states the research study.
Since, glyphosate is cost-efficient non-selective herbicides and is highly effective on a broad array of weeds, it is highly preferred over a number of herbicide products. In 2016, around 60% of the overall herbicide sales in China and India was held by glyphosate. Going forward, the augmenting demand for glyphosate-based herbicides, across the world, is anticipated to support the growth of this segment over the forthcoming years.
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In terms of the application, the market has been bifurcated into pulses and oilseeds, grains and cereals, fruits and vegetables, and several other application areas. Of these, the grains and cereals segment dominated the global market in 2016 and is projected to remain dominating the overall market over the forthcoming years, thanks to the increasing demand for cereals, worldwide, and the mounting need to increase the yield of grain crops.
On the basis of the geography, the market has been classified into Europe, Asia Pacific (APAC), North America, Latin America, and the Middle East and Africa (MEA). Europe, with a significant share, led the worldwide market in 2016 and is expected to continue on the top over the next few years. Asia Pacific is also projected to experience steady growth in its herbicide market in the near future, reports the study.
The competitive landscape of the global herbicides market has also been examined thoroughly in this research report. Researchers have analyzed the market shares, growth rate, and the existing and upcoming projects of the leading vendors of herbicides to determine their future status and the hierarchy prevalent among them. Agrium Inc., BASF SE, Bayer AG, DuPont, Monsanto Co., Israel Chemicals Ltd., Syngenta International AG, Nufarm Ltd., FMC Corp., and PI Industries are some of the key vendors of herbicides across the world, profiled in this market study.
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