2019 Future of Global Herbicides Market, Size, Share and Trend Analysis Report to 2025- Growth Opportunities, Competition, Forecasts and industry Outlook
SOUTHLAKE, TX, UNITED STATES, October 7, 2019 /EINPresswire.com/ — The latest competitive survey and analysis on Global Herbicides Market identifies BASF SE, Syngenta, Monsanto Company, Dow Chemicals as the predominant players of herbicides market owing to their significant focus on research and development activities and on herbicides usage for several small scale crops. Further, companies are focusing on addressing herbicide resistant crops and weeds through enhanced mechanism of actions.
Global trend towards higher yields, ongoing shift towards genetically engineered crops coupled with increased growth in herbicide resistant crops is forcing large scale entities to invest significantly on R&D activities.
New patents, product registrations and customized solutions are being launched by companies for improved crop protection, majorly for specific weed type and climatic conditions.
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However, high costs incurred and prolong time required for R&D and registration of herbicides remains a hurdle for the herbicides market growth over the forecast period. Growing environmental concerns for safety by governments across developed countries inclusively hampers market growth.
Key drivers responsible for emergence of herbicides market to $47.8 billion by 2025
Steady growth in agricultural output with focus on higher yields augmented with limited scope for expansion of arable land largely drives the herbicides market over medium to long term period.
The increased demand for productivity enhancement reflected by large consumption of food and minimized resource expenses drives herbicide market worldwide.
The increased herbicides resistance of crops coupled with strong demand for toxic-free and eco-friendly herbicides creates long-term opportunities for global herbicides market.
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More than 50% of Global Herbicides trade originates from top five countries
The major herbicides sales are concentrated in few markets including China, United States, Germany and France during 2018.
Increasing weed resistance to herbicides, emerging new type of weeds and growing awareness of herbicide applications coupled with widespread distribution and marketing channels are the key influencing factors for herbicide companies in the Chinese herbicides market.
In the United States, major application of herbicides is for agriculture activities, as the country accounted for up to three-fifth of regional market value during 2018.
In addition, Northern and Eastern regions of Germany comprise of three-quarters of arable land and predominantly use herbicides to yield better crop production. France is the largest herbicides market in Europe owing to significant cultivation of grains, vineyards, fruits and vegetables. While most of vineyards utilize glyphosate, bentazone is predominant in fruits and vegetables.
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Cereals & Grains application segment consumed most of the herbicides during 2018
Global cereal production is forecast to increase by 12% annually between 2015 and 2025, primarily led by yield improvements over wide adoption of herbicides.
India, China and Argentina are among the key markets contributing to the cereals production growth over the forecast period.
Glyphosate accounts up to one-fifth global herbicides market share
The glyphosate market is largely driven by commercialization of genetically engineered (GE) crops augmented with predominant use for perennial weed control and in zero tillage grain production systems.
Approval of Roundup Ready (RR), genetically engineered (GE) herbicide-tolerant (HT) soybean, maize, and cotton varieties for planting enabled wide adoption of glyphosate-based herbicides across North America.
Asia-Pacific leads the adoption of the glyphosate market and is anticipated to remain dominant over the forecast period 2018-2025.
On the other hand, Belgium, Sri Lanka and other major markets are restricting the utilization of the glyphosate type herbicides.
Emerging new application methods drive the herbicides market growth
Use of microbial, biochemical and others for weed control is being observed predominantly across Europe and other developed markets.
Farmers are shifting towards effective weed management practices, which has led to increased awareness of herbicides and cost savings, predominantly in Latin American and Asian countries.
Latest technologies use drones, machine learning techniques and advanced intelligence methods to identify weeds and apply herbicide to specific areas. These emerging technologies lower amount of herbicide utilized and ensures that the weed resistance is controlled.
John Deere’s ‘See and Spray’, ‘Rootwave’, drone based spraying are bound to capture the herbicide market in the forecast period.
Strong demand for bio-herbicides creates long term herbicide market opportunity across key players
Growing emphasis on organic farming practices, stringent environmental regulations against synthetic herbicides, expiry of patents of existing compounds are encouraging several manufacturers to focus their R&D efforts on bio-herbicides.
In addition, new entrants are investing in projects to cultivate without glyphosate. For instance, in 2019 Joolies, newest organic company received the prestigious Glyphosate Residue Free Certification by The Detox Project. The award acknowledges that neither Joolies' 500-acre date palm ranch nor its products contain the glyphosate.
In addition, government initiatives encouraging bio-herbicides and other non-chemical protection methods such as crop rotation initiatives, spring cropping, tillage, delayed drilling and competitive cultivators will provide support for bio-herbicides.
Monsanto Company, Syngenta AG, BASF SE, DowDuPont and FMC Corporation, BASF SE,E.I. Du Pont De Nemours and Company , Platform Specialty Products Corporation , Nufarm Limited , Nissan Chemical Industries Ltd. , Drexel Chemical Company are among key players modelling herbicides market
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Source: EIN Presswire