Herbicides Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Herbicides Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6072003 •
  • Format: PDF
Major players in the Herbicides 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 and Monsanto Company.

The global herbicides market is expected to grow from $33.65 billion in 2020 to $35.72 billion in 2021 at a compound annual growth rate (CAGR) of 6.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $47.09 billion in 2025 at a CAGR of 7%.

The Herbicides market consists of sales of herbicides. Herbicides are commonly known as weed killers and are chemical substances used to control unwanted plants.e Herbicides market consists of sales of herbicides. Herbicides are commonly known as weed killers and are chemical substances used to control unwanted plants.

World population is growing and is expected to reach 10 billion by 2050 and this is expected to significantly boost the herbicides market during the forecast period.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 and this is expected to increase the demand for herbicides and will boost the market growth.

The usages 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 cause 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 covered in this report is segmented by type into synthetic, bio based. It is also segmented by application into grains & cereals, pulses & oilseeds, commercial crops, cruits & vegetables, turf & ornamentals

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 instance, in December 2019, American Vanguard Corp., an agricultural products company acquired four herbicide brands Classic, First Rate, Hornet and Python from Corteva Agriscience for an undisclosed amount. The acquisition will help American Vanguard to expand its crop protection business. Furthermore, in June 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.