December 21st, 2022
BioHerbicides Market accounted for US$ 2.36 billion in 2020 and is estimated to be US$ 7.02 billion by 2030 and is anticipated to register a CAGR of 11.5%.
The report "Global Bioherbicides Market, By Mode of Application (Seed Treatment, Soil Application, Foliar, and Post-Harvest), By Source (Microbial, Biochemical, and Others (Plant Phytotoxic Residues and Other Botanical Extracts)), By Formulation (Granular, Liquid, and Others (Pellets, Dust, and Powder Form)), By Application (Agricultural Crops, Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Non-Agricultural Crops, Turf & Ornamentals, and Plantation Crops), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
· In June 2020, Marrone Bio Innovations, Inc., an international leader in sustainable bioprotection and plant health solutions, announced that its flagship biofungicide, Regalia, holds more than 25% market share of the foliar biofungicide segment in California, outperforming direct competitors during January through April 2020.
· In November 2019, BASF received an approval to introduce innovative new herbicide Luximax to Australian farmers
The rise in the number of health-conscious individuals, growth in environmental concerns, and government support provided by the respective through subsidies and premium market factors are growing demand organic products in the market. This creates an opportunity for farmers across the globe to produce crops using organic methods, which further boost the global bioherbicides market. Furthermore, the bioherbicides market for organic products is rising at a significant rate due to growing consumer interest. There has been a substantial change in the preferences and eating habits of people, worldwide. The organic food products industry is also projected to benefit from financial aids, subsidies, and R&D programs conducted by different government and non-government organizations- APEDA (Agricultural & Processed Food Products Export Development Authority) (India), FiBL (Switzerland), and the United States Department of Agriculture (USDA) (US)-to help traditional farmers shift to organic farming. Thus, growth in the organic food market is triggering the demand for bioherbicides, coupled with organic manures.
Bioherbicide finds application in the industries of leisure and crop control chemicals. For example, bioherbicide is useful to treat the golf course as well as other grass types. Alternaria Eichhorniae is utilized to control the growth of water hyacinth and Phytophthora plamivora help in controlling milkweed units in citrus orchards. Thus, advances in genetic engineering create a major opportunity for the bioherbicide market as the new generation bioherbicide will be more effective against weeds.
Key Market Insights from the report:
The global BioHerbicides Market accounted for US$ 2.36 billion in 2020 and is estimated to be US$ 7.02 billion by 2030 and is anticipated to register a CAGR of 11.5%. The market report has been segmented on the basis of mode of application, source, formulation, application, and region.
· By mode of application, the global bioherbicides market is segmented into seed treatment, soil application, foliar, and post-harvest.
· By source, the target market is segmented into microbial, biochemical, and others (plant phytotoxic residues and other botanical extracts).
· By formulation, the target market is classified into granular, liquid, and others (pellets, dust, and powder form).
· By application, the target market is classified into agricultural crops, cereals & grains, oilseeds & pulses, fruits & vegetables, non-agricultural crops, turf & ornamentals, and plantation crops. Fruits and vegetables segment estimated for over 27% of the global industry in 2019 and emerged as the largest application segment owing to extensive product usage.
· By region, Currently, Asia Pacific aids the most of the demand for bioherbicide and is expected to register the highest CAGR of rate in the upcoming years owing to the growing demand for high quantity and a quality yield. Agriculture-dependent and vastly populated emerging economies of India and China are the most protruding country-wise markets for bioherbicide in the region of Asia Pacific.
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The prominent player operating in the global bioherbicides market includes Marrone Bio Innovations, Inc., Emery Oleochemicals, Deer Creek Holdings, Ecopesticides International, Inc., Special Biochem Pvt. Ltd., Verdesian Life Sciences, Bioherbicides Australia, HerbaNatur, Inc., and Engage Agro.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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