The global bioherbicides market size is expected to reach USD 4.14 billion by 2024,
according to a new report by Grand View Research, Inc. The market is estimated
to expand at a strong CAGR of 15.7% during the forecast period. Increasing
preferences for organic farming along with rising consumption of eco-friendly
weed control products is projected to drive the market in the near future.
Innovations in organic farming practices
for sustainable crop cultivation are also expected to bolster the market growth
over the forecast period. Shifting consumer preference toward greener and
nutritional diet is fueling the demand for organically produced food grains and
vegetables, which, in turn, will boost the market growth.
Bioherbicide products are also used in
gardening, maintenance of golf course, and clearing of railway tracks. This is
expected to further contribute toward the industry development in turf and ornament
sector. Various regulatory norms and policies to promote organic farming are
projected to increase product demand in the North America and Europe regions.
However, availability of cheap, chemical-based herbicides may hinder the market
growth.
Browse Research
Report on Bioherbicides Market:
Further key findings from the study suggest:
·
The global bioherbicides market was valued
at USD 1. 28 billion in 2016 and is anticipated to reach USD 4.14 billion by
2024, expanding at a CAGR of 15.7% over the forecast years
·
Fruits and vegetables accounted for over
27% of the global industry in 2015 and emerged as the largest application
segment due to extensive product usage
·
North America led the global market in 2015
with a demand share of 29.5%. It is estimated to expand further on account of
government initiatives and high consumer awareness about health and environmental
issues
·
Asia Pacific is anticipated to witness the
highest CAGR of 16.1% in the coming years. Product demand in Australia is
anticipated to significantly contribute to the growth of this region
·
Key companies operating in the industry are
Bioherbicides Australia (BHA); HerbaNatur Inc.; Hindustan Biotech Ltd.; Fitz
Chem Corp.; Marrone Bio Innovations Emery Oleochemicals; Engage Agro USA; and
Mycologic, Inc.
View more reports of this
category by Grand View Research at
Grand View Research has segmented the global bioherbicides market on the
basis of application and region:
Bioherbicides Application Outlook (Revenue, USD Million, 2014 - 2024)
·
Grains and Cereals
·
Oil Seeds
·
Fruits and Vegetables
·
Turf and Ornament
Bioherbicides Regional Outlook (Revenue, USD Million, 2014 - 2024)
·
North America
o U.S
o Canada
·
Europe
o Germany
o U.K.
·
Asia Pacific
o India
o China
o Australia
·
Central & South America
o Brazil
·
Middle East and Africa
o Saudi Arabia
View press release of this
research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials, and healthcare.
