Glyphosate is mainly used to kill weeds, especially the annual broadleaf weeds and grasses, and facilitates a simple, flexible, and cost-effective weed control. The effectiveness of glyphosate-based herbicide has also lessened the manual labor involved in plowing of weeds. Also, glyphosate-based products are widely available in various forms, such as gels and powders, because they are convenient to use.
As per Technavio, the increased adoption of bio-herbicides will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global herbicides market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global herbicides market: Increased adoption of bio-herbicides
Bio-herbicides create minimal residue and ensure rare resistance development. They reduce the dependency on chemical pesticides and are extremely environment-friendly. These advantages of bio-herbicides make them a preferred choice for farmers to increase yield by killing weeds, insects, and unwanted pests. Factors such as the target-specific activity and minimal side effects of bio-herbicides on beneficial plants, the increasing government support for the development of bio-based crop control chemicals, and the phasing out chemical-based synthetic products are some other key aspects that drive the growth of the market.
“Apart from the increased adoption of bio-herbicides, the increasing population and the ever-rising demand for food, the increased demand from APAC, the increasing use of dicamba, and rise in mergers and acquisitions are some major factors that are boosting the growth of the market largely,” says a senior analyst at Technavio.
Global herbicides market: Segmentation analysis
This market research report segments the global herbicides market by application (cereals and grains, oilseeds and pulses, fruits and vegetables) and geographical regions (APAC, Europe, North America, South America, MEA).
The APAC region led the market in 2018 with a market share close to 39%, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to continue dominating the global market as well as register the highest incremental growth.
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Five Forces Analysis
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