Industry Background:
Herbicide, an agent, usually chemical which is used for killing or inhibiting the growth of unwanted plants such as residential or agricultural weeds and invasive species. Moreover, a great advantage of chemical herbicides over mechanical weed control is the ease of application, which frequently saves on the cost of labour. Furthermore, most herbicides are considered nontoxic to animals and humans, but they can cause substantial mortality of non-target plants and the insects that depend on them, especially when applied aerially.This growth is primarily driven by Adoption of Better Farming Practices Worldwide
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Agricultural Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as BASF (Germany), DowDuPont (United States), Bayer AG (Germany), Agrium Inc. (Canada), Monsanto (United States), Syngenta (Switzerland), FMC Corporation (United States), Arysta (United States), Nissan Chemical Industries (Japan) and Israel Chemicals Ltd. (Israel), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2023, Albaugh, LLC. acquired Corteva Agriscience's straight-goods glyphosate business. The purchase exclusively involves intangible assets, encompassing trade names, registrations, regulatory data, formulations, patents, and know-how utilized in Corteva's straight-goods glyphosate business worldwide, excluding Argentina. This acquisition showcases Albaugh's strategic expansion in the glyphosate market, bolstering its position and enhancing its capabilities in serving customers globally.
In December 2022, FMC Corporation, a prominent global agricultural sciences company, entered into a strategic collaboration with Micropep Technologies (Micropep), a renowned leader in micro peptide technology. The collaboration aims to jointly develop innovative biological solutions specifically targeted at combating herbicide-resistant weeds that pose a significant threat to crop yields. This partnership underscores the commitment of both companies to address the challenges posed by destructive herbicide resistance through the development of sustainable and effective solutions for farmers.The herbicides market is highly competitive, with numerous players vying for market share. Companies within the industry continually invest in research and development to introduce innovative herbicide formulations and technologies. The competitive landscape is characterized by a diverse range of players, including multinational corporations, regional players, and specialty chemical companies. Market participants focus on factors such as product efficacy, environmental impact, cost-effectiveness, and regulatory compliance to gain a competitive edge. Additionally, strategic alliances, mergers, acquisitions, and partnerships are common strategies employed by companies to strengthen their market presence and expand their product portfolios. The competitive nature of the herbicides market drives ongoing advancements and offers customers a wide range of options to meet their specific weed control needs.
Regulatory Insights:
The Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) provides for federal regulation of pesticide distribution, sale, and use. All pesticides distributed or sold in the United States must be registered (licensed) by EPA. Before EPA may register a pesticide under FIFRA, the applicant must show, among other things, that using the pesticide according to specifications "will not generally cause unreasonable adverse effects on the environment”.
Influencing Trend:
Rising Production of Cereals and Grains in Asian Countries
Market Growth Drivers:
Adoption of Better Farming Practices Worldwide, Decrease in The Size of Total Cultivable Land and Increasing Food Demand On Account Of Increasing Global Population
Challenges:
Development of Innovative Formulations
Restraints:
Shifting Focus To Bio-Based Products
Opportunities:
Growing Agricultural Industry in Developing Economies and Development of Innovative Formulations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Herbicides Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Herbicides Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Herbicides players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Herbicides Study Sheds Light on
The Herbicides Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Herbicides industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Herbicides industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.