Market Outlook for Global Herbicides Market
The unwanted growth of plants in the field reduces the yield and acreage of the crop. Herbicides are the pest that is use to kill the unwanted growth of a plant without affecting the crop. Glyphosate is a major component in the herbicides. Herbicides not only used in the farm field but also used in the nursery and lawns. Based on the utilization, herbicides are two types selective and non-selective. Selective herbicides used for a specific crop such as corn, wheat, rice, soybean, and others especially for yield improvement. While on the other side, non-selective herbicide is use for plantation crops that includes oil palm, orchards, rubber, and many others. Herbicides are useful to increase the yield of the crop. Herbicides used to kill the pest, they also retain the moisture, and increases crop productivity. In the North America, herbicides are more usage in comparison to other regions, as it is the largest producer of corn and soy crop. In the global market, Roundup is the most popular herbicides used by farmers.
Increase demand for commercial crops with the change in monsoon leads to increase in demand for Herbicides in the Global Market
An increase in the global demand for agriculture commodities such as grains and cereals may surge the global demand for herbicides in the market. Shrink in arable land with the change in climatic condition are some of the drivers, which are affecting the demand for herbicides in the global market. Most of the worms and pest are resistance from herbicides, based on that manufacturers make changes in the chemical formula and develop another type of product in the same segment to kill the pest and worms. The low arable land in Latin America is positively affecting the herbicides market. North America and Latin America, region are more focused on herbicides to increase the acreage of the crop. In the Asia Pacific region and Middle East and Africa, Bioherbicides is not much in trend due to higher cost and low level of awareness in farmers. These regions also used chemical herbicides but after support by the government and subsidies on these products, many countries initiated for using Bioherbicides in crop plantation.
Global Herbicides Market: Market Segmentation
Based on Product Type, the global Herbicide Market has been segmented as
Based on Nature, the global Herbicide Market has been segmented as
Based on Application, the global Herbicide Market has been segmented as
Based on Regions, the global Herbicides market has been segmented as-
Global Herbicides Market: Key Players
The key market participants operating in the global herbicides market are identified across the value chain include BASF SE, Syngenta AG, Bayer, Corteva, Inc., American Vanguard Corporation, UPL Limited, Adama Ltd., Bunge Ltd, Sumitomo Chemical Co., Ltd., DuPont de Nemours, Inc. among the other herbicide manufacturers.
Opportunities for Emerging Players in the Global Herbicide Market
The global herbicides market is growing and competitive in the agriculture sector. The key players in the global herbicides market are paying greater emphasis on research and development in order to enhance their product offerings. Frequent climatic changes and resistance of pests from various chemicals are boosting the demand for herbicides in the global market. However, the key manufacturers promoting the use of bioherbicides as they are more environmentally friendly.
Bioherbicides are also produced to kill those weed who resist the chemical herbicides and also prevent soil erosion and manage the water level of the crop. It is anticipated that Bioherbicides will have increased demand in the near future. The low availability of arable land and higher consumption of plant-based products opens the doors for new players along with the lucrative opportunities for the existing market players in the global herbicides market.
Global Herbicide Market: A Regional Outlook
Asia Pacific region is the next potential market for the market players in the global Herbicides market. China and India are the two major consumers of herbicides in the Asia Pacific region, while the demand for herbicides is also increasing in Latin America and Middle East and Africa region. In the current year, the pandemic COVID-19 is affecting major global economies. The major affected countries have announced the total lockdown in their countries. In agricultural sector, the crop production and yield must be accelerated to have the uninterrupted supply of the food products. The farmers will be more dependent on the herbicides to maximize their crop production. On the other hand, the shortage of the herbicides may experience by the farmers as supply chain and logistics is one of the key process, which affected from the total lockdown in the COVID-19 affected counties.