Leading players in the market are Syngenta (Switzerland), BASF (Germany), Dow AgroSciences (U.S.), Monsanto Company (U.S.), and DuPont (U.S.).
(PRWEB) September 06, 2014
According to a new market research report entitled, “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”, the herbicides market is projected to grow from $21,065.2 million in 2013 to $29,976.1 million by 2019, at a CAGR of 6.2% from 2014 to 2019. Latin America led the global market, followed by the Asia-Pacific region, in terms of revenue, in 2013.
Browse 137 market data tables and 31 figures spread through 296 pages and in-depth TOC on "Herbicides Market Trends and Forecasts to 2019"
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Glyphosate: The largest market segment
The global herbicides market is segmented, by type, into glyphosate, atrazine, acetochlor, 2, 4-D, and other herbicides. Other herbicides include butachlor, dicamba, imazapyr, diquat, and paraquat. Glyphosate accounts for the largest share in the “by type” classification category. North America, Latin America, and the Asia-Pacific are the largest consumers of glyphosate.
Global Herbicides Market - By Crop Type
The global herbicides market consists of four crop type categories. They are cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. North America was the largest consumer of cereals & grains in 2013, followed by Latin America. The Asia-Pacific region was the leading consumer of cereals & grains.
Latin America: The largest market for herbicides
Latin America was the largest market for herbicides in 2013. The Asia-Pacific ranked second, followed by North America. Brazil, China, and the U.S. are the key revenue generating countries for the Latin American, Asia-Pacific, and North American markets. Brazil generated the maximum revenues in Latin America, followed by Argentina. China led the market in the Asia-Pacific region.
The global herbicides market has drastically grown in the last few years and the same trend is expected to continue. Competition in the market players is high. Intensive research is being carried out by the major market players to develop new varieties of herbicides that are environment-friendly and control weeds on the farm more effectively. Many modern chemical herbicides for agriculture are specifically formulated to decompose within a short period after application. This is desirable, as it allows crops which may be affected by the herbicide to be grown on the land in future seasons. Proper vegetation management can be achieved with the application of specific herbicides on target crops. Development of less toxic and more environment-friendly herbicides is the new approach being adopted to penetrate the global market and to get better productivity from crops.
In recent years, developing countries such as China, Thailand, Brazil, and Argentina have recorded substantial growth in herbicide consumption. In addition, the Latin American and Asia-Pacific regions have emerged as agricultural powerhouses. Especially Brazil, which is already one of the world’s most potent agricultural markets, is expected to grow at a rate well above the regional average, which itself is growing faster than the average global growth for herbicides. This has led the attention of the market players of developed regions to the emerging markets in these regions.
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