The global selective herbicides market size is anticipated to expand steadily over the next few years owing to the growing awareness about the wide-ranging benefits of selective herbicides, observes Fortune Business Insights™ in its report, titled “Selective Herbicides Market Size, Share & Industry Analysis, By Type (2,4-D, Dicamba, Aminopyralid, Others (Chlorsulfuron, Clopyralid, and Others)), By Crop Type (Cereals, Vegetables & Fruits, Oilseeds, Others (Lawns, Aquatic Plants, and Others))and Regional Forecast, 2020-2027”. Selective herbicides are employed to control or prevent the emergence of species in plants, while leaving the desired crop generally unharmed. According to the Government of Western Australia’s Department of Primary Industries and Regional Development, selective post-emergent herbicides deliver high levels of target control and provide an additional advantage of improved crop yield. These herbicides, the Department highlights, can be fine-tuned to match the present in the paddock and their timing of application is flexible to align with the environmental conditions, crop growth stage, and size. These benefits, therefore, are stoking the adoption of selective herbicides among agriculturists worldwide.
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Highlights of the Report:
- Exhaustive research into the market trends, drivers, and restraints;
- In-depth analysis of the key market players and their top strategies;
- Comprehensive study of the regional dynamics of the market; and
- Granular evaluation of the segments of the market.
Increasing Yield Losses by Attacks to Stoke Adoption of Selective Herbicides
attacks on crops and plants have deeply affected agricultural productivity and farm yield, leading to massive economic losses. According to a study by the University of Queensland in Australia, uncontrolled growth cause losses worth AUD 3.3 billion annually to Australian farmers, translating to 2.7 million tons of grain loss at the national level. In developing countries, the losses are even more staggering. In India, for example, cost the Indian agriculture sector over USD 11 billion each year, with the biggest losses witnessed in peanuts in 2018. Moreover, due to the climatic conditions and the adverse effects of global warming, crops in developing and underdeveloped economies have been subject to frequent pest attacks, as pointed out by a recent study published in the journal ‘Proceedings of the National Academy of Sciences’. India, for example, has faced around 10 major and pest attacks in the last 15 years, the latest one being the fall armyworm attack that devastated the maize crop in 2018. Selective herbicides are therefore high in demand in these countries as their governments are rapidly adopting management solutions to ensure stable farm yield.
Rising Emphasis on Boosting Agricultural Productivity to Aid Growth in Asia Pacific
Asia Pacific is poised to dominate the selective herbicides market share in the near future owing to the heightened need in the region to rapidly enhance agricultural productivity. Besides this, quick adoption of modern farming practices and increasing production of cereals will provide additional acceleration to the market growth in the region.
The North America market is set to benefit from the well-organized and structured agriculture sector in the region. Moreover, massive agricultural subsidies will also promote the adoption of advanced herbicidal solutions in the region. In Europe, the main growth determinant will be the gradual shift towards sustainable agriculture practices, while the penetration of sophisticated crop protection technologies will aid the growth of the market in Latin America.
Strategic Partnerships Aimed at Innovation to Intensify Competition
The marquee feature of the competitive landscape of this market is the exciting collaborations between key players, which aimed towards enhancing innovation capacities and broadening business horizons. In addition to this, some other companies are formulating plans to strengthen their product portfolio in the next few years through strategic investments in R & D.
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- March 2020: Corteva Agriscience entered into a multi-year collaboration with AgPlenus to design, develop, and deliver novel herbicide solutions. The partnership will be based on the unification of Corteva’s expertise in crop protection product discovery and AgPlenus’s strength in engineering sustainable and effective crop protection solutions.
- January 2019: FMC Corporation announced plans to introduce innovative herbicides for rice, corn, and soybean plants over the next decade. The company has one molecule in the pipeline for rice, while research is on-going on another molecule, which has been highly effective on Palmer amaranth, for corn and soybeans.
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