Herbicides Market Size, Share, Growth, Trends 2021 Gross Margin Analysis and Development History Research Report Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Herbicides Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Herbicides Market products.

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According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.

Factors such as the increasing crop production worldwide and the concern for the decreasing arable land for the cultivation of crops, which is raising the need amongst farmers to develop modern agricultural methods that provide increased yield with low input resources, are anticipated to drive the growth of the market. According to the statistics by the Organization for Economic Co-operation and Development (OECD), production of maize increased from 8.28 tonnes/hectare in the year 2010 to 9.48 tonnes/hectare in the year 2019.

Global Herbicides Market was valued at USD 24.09 Billion in the year 2017. Global Herbicides Market is further estimated to grow at a CAGR of 5.64% from 2018 to reach USD 37.34 Billion by the year 2025. North America region holds the highest Market share in 2017 and South America region is considered as the fastest growing Market in the forecasted period due to growing demand and rising population. At a country level, the U.S. in North America and Brazil in South America holds the notable Market share and is projected to grow strongly in the coming years due to the strongly growing agriculture sector and using herbicide as dominant pesticides.

Major market players in Herbicides Market are The DOW Chemical Company, Syngenta AG, Monsanto Company, Bayer CropScience AG, FMC Corporation, E.I. du Pont de Nemours and Company, Nissan Chemical Industries Ltd., BASF SE, Nufarm Ltd, Sumitomo Chemical, Bioworks Inc., Drexel Chemical Co., and 10 companies detailed information is provided in report. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years. In 2017, BASF collaborated with Monsanto to launch advanced dicamba-tolerant herbicide system with improved dicamba formulations providing farmers the tools they need to combat the yield-robbing weed resistance.

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SWOT Analysis of Herbicides Market:
Increasing labor costs and labor shortage
Increasing use of herbicide as weed/undesirable plants control agent
Growing cultivation of genetically modifies (GM) crops

Rising sale of non-genuine products
Stringent environment regulations across the world

High opportunities in Asia-pacific region
Growing preference for herbicides

Low focus on R&D due to high costs
The outbreak of herbicide-resistant weeds

The segmentation is done on is the basis of Type, by application, by crop type, and by region. On the basis of types, the global Herbicides Market is sub-segmented Diquat, Glyphosate, 2,4-D and others of which the glyphosate segment is expected to hold the highest Market share during the forecast period due to vide application and high adoption rate of genetically modified (GM) seeds and crops.

Herbicides Market Segmentation:
By Type
*2, 4-D

By Application

By Crop type
*Cereals & Grains
*Fruits & Vegetables
*Oilseeds & Pulses

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By Region
North America
*Rest of Europe
*Rest of Asia-Pacific
*Latin America
*Middle East & Africa

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