DUBLIN, Feb. 14, 2020 /PRNewswire/ -- The "Herbicides Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global herbicides market was worth $ 32.64 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 13% and reach $51.47 billion by 2023.
World population is growing and is expected to reach 10 billion by 2050 , this is expected to significantly boost the herbicides market. Increase in population creates more demand for food. Crop production, farming activities and trade volumes will have to increase in order to meet increased population. Additionally, farmers and commercial farming companies will increase acquisitions in arable land to increase crop production, this is expected to increase the demand for herbicides.
The usage of synthetic herbicides are leading to different complications in humans as well as animals. Generally, herbicides are single substance or mixture of substances used to control, destroy and repel weeds growth. Most of the herbicides causes breathing, digestion problems and skin irritation due to the presence of chemical substances in it. According to an Australian study, workers exposed to herbicides are more likely to develop diseases related to breathing. The problems developed by humans and animals due to usage of synthetic herbicides limits the growth of herbicides market.
The herbicides market has registered a significant increase in mergers and acquisitions over the last 5 years. Such collaborations are mainly aimed at expanding the product range or distribution networks. This can also be attributed to low food commodity prices which affect pesticides manufacturers and distributors leading to industry consolidation. For example, in February 2017, ChemChina acquired Syngenta AG for a total of $43 billion.
Following this, the Chinese herbicides market is expected to increase in productivity and gain a dominance in global prices. Furthermore, in September 2017, California-based American Vanguard Corporation, acquired Pennsylvania-based OHP, Inc., a leader in herbicide solutions, especially for greenhouse and nursery applications, with a wide network of distributors across the USA and South America. Lastly, in 2018, Bayer acquired Monsanto for $63 billion.
In June 2018, Bayer AG, a German-based pharmaceutical and life sciences company that produces and markets healthcare and agricultural products such as crop protection products and polyurethanes acquired Monsanto for $63 billion. The acquisition helped Bayer AG in becoming a global leader in agriculture with diversified portfolio of product offerings and tailor-made solutions to farmers in all geographies. Monsanto is a US-based agricultural biotechnology company that specializes in developing herbicides and offers products such as corn, soybean, cotton, wheat, and vegetable seeds.
The herbicides market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 42% of the market.
Major players in the market are Adama Agricultural Solutions Ltd, Basf Se, Bayer Ag, Dowdupont, FMC Corporation, Nufarm Limited, Syngenta, The Dow Chemical Company, E.I. Du Pont De Nemours And Company, Monsanto Company.
Key Topics Covered
1. Executive Summary
2. Herbicides Market Characteristics
3. Herbicides Market Size And Growth
3.1. Global Herbicides Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Herbicides Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Herbicides Market Segmentation
4.1. Global Herbicides Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Bio Based
4.2. Global Herbicides Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Grains & Cereals
- Pulses & Oilseeds
- Commercial Crops
- Fruits & Vegetables
- Turf & Ornamentals
5. Herbicides Market Regional And Country Analysis
5.1. Global Herbicides Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Herbicides Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Adama Agricultural Solutions Ltd.
- BASF SE
- Bayer AG
- FMC Corporation
- Nufarm Limited
- The Dow Chemical Company
- E.I. Du Pont de Nemours and Company
- Monsanto Company
- Platform Specialty Products Corporation
- Nissan Chemical Industries Ltd.
- Drexel Chemical Company
- Sumitomo Chemical Co. Ltd.
- Wilbur-Ellis Holdings, Inc.
- Upl Limited
- Heranba Industries Ltd.
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