The Herbicide Safeners Market was valued at US$688.842 million in 2018 and is projected to expand at a CAGR of 5.44% over the forecast period to reach US$946.768 million by 2024. The demand for Herbicide Safener is expected to grow on account of the rising population along with the growing demand for food. Furthermore, the growing focus to reduce crop wastage during transportation and storage is expected to fuel the market in the coming years. In addition, expansion in the form of acquisitions as well as growing research and development activities are expected to widen up the growth opportunities in the next five years. However, strict government regulation regarding safety concerns associated with herbicides is expected to hamper the market growth in the near future. The market has been segmented on the basis of crop type, method and geography. Geographically, Asia Pacific is projected to grow at a substantial rate owing to the huge agricultural industry coupled with rising population leading to increasing demand for grains is driving the Herbicide Safener market in Asia Pacific. South America is anticipated to hold a significant share on account of high production of coffee and corns to meet the market demand.
Growing agricultural industry.
Strict governmental regulations.
In February 2019, UPL limited acquired Arysta Lifescience Inc., for US $4.2 Billion with an aim to strengthen its position as a global leader in agricultural solutions.
The major players profiled in the Herbicide Safener market include Bayer AG, BASF SE, UPL, NuFarm, The Dow Chemical Company, Drexel Chemical Company, Helm AG, ADAMA Ltd., Sipcam Agro USA.
The Herbicide Safener market has been analyzed through the following segments:
Middle East and Africa