Bioherbicides are control agents used in controlling weed control biologically and without harming the surrounding flora. Environmental concerns and ecological impacts of synthetic pesticides are likely to drive its demand. The global bioherbicides market report by Market Research Future (MRFR) reveals insights for the popularity of these agents and its prospects for the period of 2019 to 2024 (forecast period).
Market Outlook
The global bioherbicides market size is expected to reach a value of USD 2.35 billion by 2024. It is deemed to display a CAGR of 14.2% during the forecast period. The market is driven by increasing demands for organic food and environmental concerns pertaining to chemical agents. The large population limited arable land for cultivation, and standards of distributors and policy makers can fuel the demand for bioherbicides.
Advantages of bioherbicides such as high degree of specificity of target weeds, effectiveness in management of herbicide-resistant weed, and negligible impact on men and the surrounding environment can fuel the market growth. Investments in research and development can usher in new growth opportunities. For instance, the bioherbicide by Seipasa gained public funding by the Spanish government in 2020 for improving its safety and wider manufacturing. Another study conducted by the Botanical Institute of Karlsruhe Institute of Technology states the growth of garlic and mint inhibits the growth of weeds near walnut trees.
Limited availability of the bioherbicides product market and a small shelf life can restrict the growth of the global market.
Segmentation
The global bioherbicides market has been segmented based on source, mode of application, and crop type.
By source, the global bioherbicides market comprises microbials, biochemicals, and others.
Based on the mode of application, it comprises soil application, seed treatment, foliar, and others.
Based on crop type, the global bioherbicides market has been segmented into oilseed & pulses, cereals & grains, fruits & vegetables, and others.
Regional Analysis
The global bioherbicides market has been studied with regards to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is touted to lead in the market owing to concerns regarding chemical pesticides and the move towards organic farming. The adoption of vertical farming as seen in urban settings can drive the need for bioherbicides. Establishment of organic produce stores as well as the interest in veganism can fuel the market growth.
APAC is bound to register the highest growth rate during the forecast period owing to countries of Australia, Japan, and China. Advances in agrochemicals and cultivation of fruits and vegetables to cater to the constant demand for foods can drive the need for bioherbicides. Moves by governments in changing their stance on the use of synthetic chemicals can be beneficial to the market in the long run. Cultivation of rice in Indonesia is a prime instance of this change and will positively impact the global bioherbicides market.
Competition Outlook
Deer Creek Holdings, Hindustan Bio-Tech Chemicals & Fertilizers, Special Biochem Pvt. Ltd, Certified Organics Australia, Marrone Bio Innovations, Inc, Verdesian Life Sciences, Emery Oleochemicals, Peaceful Valley Farm Supply, Inc., HerbaNatur, Inc., Biostadt India Limited, WeedOUT Ltd., Belchim Crop Protection USA, LLC, and BioHerbicides Australia Pyt Ltd are key players of the global bioherbicides market. Launch of new products and constant innovation of formulations are prime strategies of players to sustain market hold.
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