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The increasing need for better crop in Agricultural Industry is major key Factors Driving Revenue Growth During Forecast Period.

NEW YORK CITY, NEW YORK, UNITED STATES, August 3, 2022 /EINPresswire.com/ -- The Global Herbicide Market is expected to exceed the valuation of USD 39.8 billion by the year 2026, growing at a CAGR of around 5% through the years. This report on the herbicide market studies the essential factors such as the size, share, demand, growth, gross profits, earnings, and revenue to evaluate the rise of the industry in the future. It assesses the data gathered from the past years 2016 and 2017 to give an extensive view of the trends and predicts the possible rise of the industry during the years 2019 to 2026 while considering 2018 as the base year.

Herbicides, also known as weedkillers, are substances that are used to kill the unwanted plant. Based on the mode of action, it is categorized into two types- Selective herbicide and Non-Selective herbicide. Selective herbicides are used to clear select weed species and leave the crop unharmed, whereas, non-selective herbicides are used to clear all sorts of plant material on coming in contact with it. Non-selective herbicides are used to clear off waste grounds, industrial and construction sites, and such. Most of the herbicides are applied in the form of water-based sprays using ground equipment. The ground equipment varies in the design and sizes. Large areas can be sprayed by using self-propelled sprayers equipped with long booms. Towed, handheld and horse-drawn sprayers are also used, while to cover an even greater area, helicopters, airplanes, and irrigation system (Chemigation) are used.

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The increasing need for better crop yield and the reduction of arable land has prompted an increase in the demand for herbicides, is the primary driving factor of the market. Herbicides also decrease the need for manual and mechanical weeding. This is boosting its demand, particularly in developing economies. On the downside, the use of inorganic herbicides has a potential risk factor associated with environmental health. It can harm the aquatic life and bees too, but more importantly, it can also cause health problems. Some of it can cause problems ranging from rashes to even death. These are the restraining factors on the growth of the market. Nonetheless, the development of bio-based herbicide is expected to offer new opportunities for growth during the forecast period.

Major companies

BASF
Bayer
DowDupont
Syngenta
FMC Corp.
ADAMA Ltd.
Nufarm Ltd

Further key findings from the report suggest

The market has been categorized into different segments based on type as Synthetic, Bio-Based, Others, based on mode of action as Selective, Non-Selective, and based on application as Grains and Cereals, Oilseeds, Fruits & Vegetables, Turfs & Ornamentals, Others, to assess their size, share, demand, trends, gross profit, total earnings, revenue and speculate their further aspects. Based on type, Glyphosate owns the majority of the market share and is expected to lead during the forecast period owing to the low-cost and ability to not only remove weed but also promote plant growth. Based on the mode of selection, the non-selective segment dominates the market because it doesn’t only cater to weed management but is more diverse and used for sustainable agriculture development and much more. Based on the crop type, fruits and vegetable segment is expected to own the majority of the market share as fruits and vegetables have higher crop yields, and profit returns. Major key players will continue to focus on new product innovations, mergers, and acquisitions.

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Segments covered in the report:

Type Outlook:

Synthetic
Bio-Based
Others

Action Outlook:

Selective
Non-Selective

Crop Type Outlook:

Grains and Cereals
Oilseeds
Fruits & Vegetables
Turfs & Ornamentals
Others

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Regional Outlook:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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