Herbicides Market
which have plenty of agricultural land, have started following organic agriculture standards in order to improve
the global sustainability and enhance the profit margin through cultivation, which, in turn, is limiting the
application of herbicides to some extent.
In the near future, the adoption of organic agriculture and, consequently, biopesticides is anticipated to witness
a healthy rise, which is likely to further impede the demand for herbicides. However, the increase in research
and development activities, triggered by the growing awareness about the toxicity of herbicides and the ban on
their usage by various environmental protection agencies, is expected to create opportunities for product
innovation in this market over the next few years.
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Demand for Herbicides to Remain Strongest in Asia Pacific
TMR estimates the global market for herbicides, which was worth US$22.3 bn in 2014, will rise at a CAGR of
6.20% during the period from 2015 to 2023 and attain a value of US$38.3 bn by the end of the forecast period.
Currently, Asia Pacific leads the demand for herbicides among all the regions and is projected to remain the
key consumer over the next few years. In 2014, it held a sha re of 27.9% in the overall demand for herbicides
across the world. Latin America, which closely follows Asia Pacific in terms of volume, is expected to witness
the fastest rise in the demand for herbicides between 2015 and 2023 at a CAGR of 5.80%.
The demand for herbicides will continue to be the strongest in the cereals and grains sector throughout the
forecast period. Glyphosate is likely to remain the most preferred herbicide across the world in the coming
years, states the report.
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TABLE OF CONTENT
Chapter 1 - Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Scope and Assumptions
1.4 Research Methodology
1.5 Research Models
3
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