According to the report Global Dicamba Herbicide market, published by Market Data Forecast, the Market was worth 321.5 million USD in 2016 and is expected to reach 483.16 million USD by 2021 with a CAGR of 7.3 %. Market is expected to increase significantly owing to the growing demand of food security for the growing population along with limited availability of agricultural lands and rise in crop loss due to weed problems.
Dicamba is a type of herbicide that is used to kill various types of weeds in pastures, Range lands and Non-crop areas. Dicamba works by increasing plant growth rate. At sufficient amounts, Plant outgrows its nutrient supplies and dies. Dicamba is generally used to kill Broad leaf weeds, annual and perennial rose weeds in grain crops and high lands.
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The growing need of food security for rising populace and rising crop loss owing to weed problems, along with changing agricultural practices from traditional to conventional are some of the factors driving the growth of the dicamba herbicide market. However, some of the factors like volatility of Dicamba, Stringent regulatory approvals and growing organic food industry are restraining the market.
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Dicamba Herbicide Market is segmented based on by Crop Type, Formulation, Physical Form, & Time of Application. Based on Crop Type, market is further segmented into Cereals & Grains, Oilseeds & Pulses, and Pastures & Forage Crops. Based on Formulation, market is segmented into Acid and Salt. Based on Physical form, market is further Segmented into Dry and Liquid. Based on Time of application, market is further segmented into Pre- and Post-Emergence. Cereals & grains dominated the market owing to growing demand to reduce crop loss. Oilseeds & Pulses is the fastest growing segment during the forecast period.
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Geographically, market is further segmented into Asia-Pacific, Europe, Latin America, North America and Middle East and Africa. Europe dominates the market during the forecast period. North America is the fastest growing market and second largest market owing to the rapidly advancing agricultural practices.
This report includes a study of marketing and development strategies of leading companies such as Monsanto Company, BASF SE, Bayer Crop Science, E.I. du Pont de Nemours and Company, The Dow Chemicals Company, and Syngenta AG
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