Bioherbicides Market Growth, Trends, And Forecasts (2018-2023) - Market Data Forecast
Bioherbicides Market Overview
Herbicide is a type of pesticide that is used to control weeds or undesirable plants. Bioherbicide is a biological based herbicide to control weed. These compounds do not cause any harm to the farmers during the handling process. Furthermore, crops harvested using bioherbicides are considered safe for consumption.
Rising demand for natural products decreased chemical hazards and less demanding residue management, enhanced outcomes in yield, quality, and productivity, and support from the government are the major factors driving the growth of the Bio herbicides market. High growth potential in developing markets and untapped regions are providing new opportunities to the market players. However, risk of chemical secretions and shortage of product to consumer in developing countries are some of the major factors restricting the market.
Bioherbicides Market Forecast Report (2018-2023)
Global Bioherbicides Market was worth USD 920 Million in 2018 and is expected to reach USD 1810 Million by 2023 with a CAGR of 14.5 %.
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Bioherbicides Market Segmentation
Bioherbicides Market is segmented based on Source, Application Mode, Mode of Action, Formulation, and Application. Based on Source, Market is further segmented into Microbials, Biochemicals & Others. Based on Application Mode, Market is further segmented into Seed, Soil, Foliar, Post-harvest and others. Based on Formulation, Market is further segmented into Granular, Liquid & Others. Based on Mode of Action, Market is segmented into MOA involving Photosynthesis, MOA Targeting Enzymes, and Others. Based on Application, Market is segmented into Agricultural and Non-Agricultural Crop Types. Based on Agricultural Crop Type, Market is further segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and others. Based on Non-Agricultural Crop Type, Market is further segmented into Turf & Ornamentals, Plantation Crops. Microbial segment is expected to grow at highest CAGR as it provides sustainable and cost effective yield.
Geographically, Bio herbicides market is further segmented in to North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia-Pacific Dominates the market currently and growing significantly throughout the forecast period owing to increase in demand for high quantity and quality yield.
The major companies dominating this market for its products and services are
- Emery Oleochemicals,
- Deer Creek Holdings,
- Verdesian Life Sciences, LLC,
- Marrone Bio Innovations Inc.,
- Certified Organics Australia Pty Ltd,
- EcoPesticides International, Inc.,
- MycoLogic Inc.
- Innovative Biologicals,
- Bioherbicides Australia Pty Ltd.,
- Hindustan Bio-tech,
- Special Biochem Pvt. Ltd.
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