The concentration of a few large players that hold
close to 75% market share renders the global herbicides market to be
highly consolidated and an organized one, as stated in a new report
by Transparency Market Research (TMR). Competition among these
players, however, is stiff as they are contend to garner a larger
market share. In this scenario, leading players are resorting to
strategic alliances and mergers and collaborations to introduce novel
and economical products.
Syngenta International AG, BASF SE, Bayer AG,
DowDuPont Inc., Monsanto Company, Agrium Inc., and Israel Chemicals
Limited are to name some of the leading companies in the global
herbicides market.
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The need to up agricultural produce to feed the
growing global population is chiefly driving the global herbicides
market. Driven by this and various other factors, the global
herbicides market is likely to display a CAGR of 6.1% between 2017
and 2025, for the market to attract a revenue of US$29.30 bn by 2025
end. The global herbicides market stood at US$17.37 bn in 2016.
Product-wise, glyphosate led the global herbicides
market in terms of value and volume in 2016. The segment is likely to
hold on to its dominant position over the forecast period. Cereals
and grains, among the key application types dominated the market
vis-à-vis revenue in 2016. The segment is likely to display the
leading CAGR over the forecast period. Geography-wise, Europe stood
as the leading regional segment in 2016; going forward the region is
likely to display a slightly declined market share during the
forecast period.
Need to Clear Unwanted Vegetation Affecting
Agricultural Crop Production Boosts Uptake
Majorly fuelling the global herbicides market is
the need to increase crop yield to feed the rising global population.
The decreasing cultivable land has necessitated the use of herbicides
to clear weeds that that grow around planted crops and consume major
portion of nutrition for crops. Herbicides are synthetic crop
protection products that are used to kill unwanted vegetation such as
weeds that affect crop production. Weeds affect as much as 50% crop
yield, as weeds thrive on the nutrition meant for planted crops and
thus results in reduced crop yield. This is necessitating the use of
herbicides to decrease the gap between demand and production of food.
As per the statistics of United Nations, the world
population has increased significantly in the past two decades and is
anticipated to rise at a rapid pace in the near future. The world
population is estimated to be 9.8 billion by 2050, from a population
of 7.6 billion in 2017. Increasing crop yield is of utmost
importance, from the point of view of production of sufficient food
to cater to the rising population.
Health and Environmental Concerns lead to
Declined Use
However, health and environmental concerns have
imposed ban on a number of herbicides. For instance, glyphosate,
which is one of the most widely used herbicide is anticipated to be
banned in Europe by the end of 2017. Also, 2,4-D has been banned for
use in Europe. California has put restrictions on the use of
glyphosate due to the presence of herbicide active ingredients that
are strictly monitored for health and environmental considerations.
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In addition, the increasing awareness of health
hazards associated with synthetic agrochemical products is leading to
a shift towards bio-based products, especially in developed economies
of Europe and North America.
The data and information presented here is based
on the findings of a TMR report, titled “Herbicides Market (Product
- Acetohlor, 2,4-D, Glyphosate, Atrazine; Application - Oilseeds &
Pulses, Cereals & grains, Fruits & vegetables) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2017–2025.”
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