Heavy investment in the herbicides market pushing it towards a higher growth

16 Oct
2015

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Allied Market Research published a report titled "Global Herbicides Market - (Type, Mode of Action, Crop Type, Geography) Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020."

The report forecast the herbicides market to attain a market size of $31.5 billion by 2020, with a CAGR of 5.4% during 2014-2020. Asia Pacific holds around 2/5th of the overall market share; however, in terms of revenue North America almost equals one third of the global revenue due to higher prices. The European herbicides market is dominated by France as it produces huge amount of Wheat that consumes herbicides.

Application of chemical 2, 4-D, is banned in Canada, Norway and Denmark due risk of cancer and higher toxicity. Organic herbicides are considered as alternative to 2, 4-D; however, its advantages are still under research.

At present, bio herbicides is a key segment in the herbicides market as it kills the specific weeds and does not harm the crop. Its commercialization is low; however, due to less harm to environment and lesser toxicity it is gaining popularity. Hence, Bio herbicides Australia is increasing their focus on the commercializing the bio herbicides. Bio herbicides are expected to grow at a CAGR of 27.8%.

Sarritorare and Myco-Techpaste are the two Canadian bio herbicide brand that are commercially available. The use of herbicides is mostly among grains and cereals such as maize, rice, wheat and others.

Steady transformation in the usage of non-selective from non-selective herbicide would be a trend to watch during the forecast period. Asia-Pacific is expected to attain a value of $8.3 billion by 2020, with the fastest CAGR of 6.7%. U.S is anticipated to generate 85% of the overall revenue in North America.

Key companies profiled in the market are ASF, Bayer AG, DOW Agriscience LLC, Syngenta AG, Cheminova A/S, FMC Corporation, Adama Agricultural Solutions Ltd, Nufarm Ltd, E.I Du Pont de Numerous and Monsanto Company

Akhilesh Prabhugaonkar

Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.

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