According to the report published by Allied Market Research, the global herbicides market garnered $25.88 billion in 2017 and is expected to reach $37.99 billion by 2025, registering a CAGR of 4.8% from 2018 to 2025.
Growth Drivers and Industry Trends
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The report offers an analysis of the growth drivers, restraints and
opportunities of the global herbicides market. High adoption of herbicides in
Latin America, unavailability of fertile land, and decrease in workforce and
consequential rise in labor charges drive the growth of the market. However,
health hazards by herbicides and growth in health concern restrict the growth
of the industry. Conversely, potential in Asia-Pacific and Latin America and
prompt acceptance of bioherbicides offer new opportunities for the growth of
the market.
Segmentation Analysis of the Industry
The report offers a broad segmentation of the global herbicides market. It
segments the market into type, mode of action, crop type, and region. Based on
type, the market is classified into synthetic herbicide and bioherbicide. The
synthetic segment contributed 95.3% of the total market share in 2017 and will
maintain its dominance through 2025. The mode of action segment is divided into
selective and non-selective.
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The selective segment is expected to maintain its lead position in terms of
revenue through 2025. Among the crop types, the soybean segment is likely to
grab the largest market share during the forecast period. The other subsegments
of this section are corn, cotton, wheat, and others. The report covers a study
of the regions such as North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is expected to register the highest CAGR of 6.5% through 2025
while Europe would maintain its dominance in terms of revenue through the study
period.
Industry Key Players
The report also includes an analysis of the leading players operating in the
global herbicides market. They include BASF, Bayer AG, DowDupont, Syngenta AG,
FMC Corporation, Adama Agricultural Solutions Ltd, and Nufarm Ltd.
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