Market Overview
The worldwide Bioherbicides Market is anticipated to generate approximately USD 4.3 billion by 2030. However, the global market for Bioherbicides is estimated to account for a CAGR of 13.4% between the assessment period of 2019 to 2024. In general, biopesticides are pesticides that come from natural sources like animals, minerals, microbes, and plants. It has been identified that biopesticides do not leave toxic residues on crops and are safer for growing crops.
In the last past few years, significant growth has been seen in the global Bioherbicides market insight, which has increased its demand across the world. It includes various growth driving factors such as rising awareness about the environmental concerns in relation to the chemical herbicides and rising demand for organic food among the consumers. The current market growth has created many opportunities for the key players and vendors because of the launches of new products and the rising continuous product innovation.
However, the global market for Bioherbicides might face restraints due to the low availability of these products and the low shelf life of the product. Additionally, the global Bioherbicides Market might experience challenges due to the product limitations of bioherbicides and the requirement for new skills & technology.
Market Segmentation
According to the global Bioherbicides Market analysis, the current market for bioherbicides has been classified into crop type, mode of application, and sources.
Based on the crop types of segments, the global market for Bioherbicides has been categorized into cereals & grains, oilseed & pulses, fruits & vegetables, and others. Based on the mode of application segment, the market for bioherbicides has been segmented into foliar, seed treatment, soil application, and others.
In terms of source segment, the worldwide market for Bioherbicides Market Outlook has been classified into biochemicals, microbials, and others. All these source segments are playing an essential role in developing the growth of the global market for Bioherbicides.
Regional Analysis
Based on the regional segment, the global Bioherbicides market has been classified into four major regions such as Europe, North America, Asia-Pacific, and the rest of the world.
Of these regions, the bioherbicides industry of the North American region is showing more growth potential during the forecast period. This region is anticipated to lead the global market in the research period. In this region, the demand for bioherbicides is growing rapidly due to the rising environmental concern among the consumers and the rising adoption of organic farming across the region.
Apart from this region, the Asa Pacific region is expected to account for the highest CAGR in the review period because of the prediction to record healthy growth in the countries like Japan, China, and Australia.
Industry News
In January 2016, a license agreement was signed in between MycoLogic Inc. Innovative Biologicals (Canada) and Lallemand Inc. (Canada). This partnership has helped MycoLogic Inc. Innovative Biologicals to expand the market as well as to further develop its bioherbicide product in the US and Canada. Moreover, it registered a similar Chondrostereum product and facilitated the ongoing development of the European market.
Key Players are:
- Special Biochem (India)
- Deer Creek Holdings (US)
- Emery Oleochemicals (Malaysia)
- Verdesian Life Sciences (US)
- ACO Certification Ltd (Australia)
- Marrone Bio Innovations (US)
- BHA (Australia)
- EcoPesticides (US)
- Hindustan Bio-Tech Chemicals & Fertilizers Ltd. (India)
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