Top Emerging Trends in the Global Dicamba Market by Technavio

LONDON–(BUSINESS WIRE)–#Agrochemicals–Technavio’s latest market research report on the global
dicamba market provides an analysis of the most important trends
expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

According to Technavio analysts, the global
dicamba market will grow at a CAGR close to 8% during the
forecast period. The rising awareness of end-users regarding crop
protection is a major factor driving the market’s growth.

Crop protection is the science and routine of observing plants and
crops, and understanding their growth process, ailments, and harmful
prospects. Unexpected extreme weather conditions and growth of weeds,
insects, and pests are some of the factors that can harm crops. Crop
protection ensures the production of high-quality crops and increased
yield, which requires less land, water, and labor, and benefits both
farmers and consumers.

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In this report, Technavio highlights the incentives and rewards offered
to farmers for using dicamba as one of the key emerging trends driving
the global dicamba market:

Incentives and rewards offered to farmers for
using dicamba

With the onset of the ban imposed on the use of dicamba and the
stringent regulations regarding the adverse effects of dicamba on crops,
the key players in the global dicamba market have developed benefit
programs for farmers. According to the University of Missouri, the
plantation of soybean was spread across 90 million acres in 2017 in the
US, out of which 4% was damaged due to the use of dicamba.

“Key players of the global dicamba market such as BASF, has initiated
the all-new BASF Grow Smart Rewards program for 2018. With the help of
this program, BASF is inviting investments on its herbicides and
fungicides. The motive of the program is to provide benefit to proactive
farmers working closely with the retailers, consultants, and BASF
representatives,” says a senior analyst at Technavio for research on agrochemicals
and fertilizers.

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Global dicamba market segmentation

This market research report segments the global dicamba market into the
following applications (agriculture and lawn and turf) and key regions
(Europe, North America, APAC, and ROW).

The agriculture segment held the largest market share in 2017,
accounting for nearly 83% of the market. The market share for this
application is expected to increase by 2022.

Europe was the leading region for the global
dicamba market in 2017, accounting for a market share of 32%. By
2022, APAC is expected to register the highest growth by nearly 4%
followed by ROW. On the other hand, the market share for North America
is expected to decline by a huge margin during the forecast period.

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