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.
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.
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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.
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:
·
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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