Nov 8, 2019   SOURCE: BusinessWire

Global Herbicides Market 2019-2023 | Increasing Adoption of Bio-Herbicides to Boost Growth | Technavio

The global herbicides market is expected to post a CAGR over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global herbicides market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global herbicides market 2019-2023. (Graphic: Business Wire)

Glyphosates, a broad spectrum systemic-herbicide and crop desiccant, is used to kill weeds, especially the annual broadleaf weeds and grasses by inhibiting the plant enzyme 5-enopyruvylshikimate-3-phosphate synthase. Farmers extensively rely on glyphosates to protect a wide range of crops such as pulses, fruits, vegetables, cereals, and grain crops from unwanted weeds and pests. It is also used for garden maintenance and silviculture, viticulture, and horticulture purposes. Thus, the growing demand for glyphosates will boost the growth of the herbicides market during the forecast period.

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As per Technavio, the growing popularity of bio-herbicides, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Herbicides Market: High Adoption of Bio-Herbicides

The use of bio-herbicides is gaining traction in the market as it ensures rare resistance development and exhibits exceptional activity in killing weeds and harmful pests. They are generally bacterial, viral, and fungal formulations that have minimal residue. They minimize the dependency on chemical pesticides as they are extremely environment-friendly. Thus, with the growing use of bio-based crop control formulations and the phasing out chemical-based synthetic products, the market for herbicides is expected to showcase a positive outlook during the forecast period.

“Apart from the rising popularity of bio-herbicides, the increasing use of dicamba and rising mergers and acquisitions are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Herbicides Market: Segmentation Analysis

This market research report segments the global herbicides market by Application (Cereals and grains, Oilseeds and pulses, and Fruits and vegetables), chemical (Glyphosate and Others), and Geography (APAC, Europe, MEA, North America, and South America).

The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to favorable government policies and increasing demand for high-quality fruits, vegetables, and cereals.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.