Herbicides Market by Type (Glyphosate, Atrazine, Acetochlor, 2,4-D), by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), by Mode of Action (Selective & Non-Selective) & Geography – Trends and Forecasts to 2019
Herbicides are used to kill undesirable plants and weeds. They are a very essential part of modern agricultural practices. The herbicides market is dominated by players such as Syngenta (Switzerland), BASF (Germany), Dow AgroSciences (U.S.), Monsanto Company (U.S.), and DuPont (U.S.). Being a highly regulated market, government intervention in the supply and demand of herbicides increases competition among manufacturers.
The global herbicides market is led by Latin America, which had a market share of 26.2% in 2013. This region is projected to grow at the fastest CAGR of 7.3% from 2014 to 2019. It was followed by the Asia-Pacific region, North America, and then Europe.
This report is focused on the detailed study of the herbicides market, by type, crop type, and mode of action in different geographies, with a thorough analysis of the market players in the industry.
The global herbicides market is also segmented on the basis of type-glyphosate, atrazine, acetochlor, 2,4-D, and others (butachlor, dicamba, imazapyr, diquat, and paraquat)-and crop type-cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The classification of herbicides is also based on their mode of action: selective and non-selective.
The herbicides market is mainly driven by the limited availability of land, growing demand for food, and the increase in awareness about modern farming practices and technology. To tap the untapped business potential segment, many multi-national companies are investing in the herbicides industry with innovative technology. The growing environmental concerns, exemption from patent laws and regulations, stringent approvals and regulations can act as restraints for the growing herbicides industry.
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