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Manoj Kumar is a postgraduate in Life Sciences with over seven years of dedicated experience in the fields of anima.....
Bioherbicides Market: By Source, By Application, By Formulation, By Distribution Channel, and Geography
Bioherbicides Market: By Source, By Application, By Formulation, By Distribution Channel, and Geography
Bioherbicides Market size was valued at US$ 1,251.7 Mn in 2023, growing at a CAGR of 13.8 % during the forecast period 2024-2030. Herbicide is a pesticide that is used to kill unwanted plants. Bioherbicides Market is derived from microbes to prevent the growth of unnecessary plants of weed during the yield of crop. Bioherbicides are majorly derived from fungi, protozoa, bacteria, and phytotoxic extracts of plants. Bioherbicides have several advantages compared with synthetic herbicides. For instance, synthetic herbicides cause soil and water pollution and affect human health through food consumption. Bioherbicides do not cause any harm to farmers during handling process. In addition, crops harvested by using bioherbicides are safe for consumption.
The Market is growing at a significant CAGR owing to increase in the awareness about the benefits of bioherbicides over the synthetic herbicides among farming comunity. Increase in the R&D activities by small and big firms for the innovation of newer bioherbicides propels the market revenue. Diversification of business segments by registration of bioherbicides in the various markets is a key opportunity for the market players. In addition, government support for the smaller companies for the synthesis of bioherbicides might upsurge the revenue growth of the market. Moreover, acquisitions and mergers, collaborations, patent fillings and product launchings are the strategies followed by companies for dominating the market.
Study Period
2024-2030Base Year
2023CAGR
13.8%Largest Market
North AmericaFastest Growing Market
Europe
Increase in demand for organic products, need for higher product yield and quality with reduced chemical hazards, government initiations for the eco-friendly farming practices, and increase in awareness among the farmers about the bioherbicides are anticipated to propel the market over the forecast period. Moreover, due to synthetic herbicide tolerance on soybean and maize, stringent regulations posed by developed countries on importing such crops, leads to higher adoption of bioherbicides usage. In addition, advantages over the synthetic herbicides, low R&D costs, and easier residue management are expected to boost the market over the forecast timeframe. However, risk of secreted toxic metabolites by microbes, high cost of bioherbicides, and lesser availability of products are expected to hinder the growth of the market over the forecast period.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America market growing at significant rate due to increase in awareness about organic farming, rise in adoption towards eco-friendly farming techniques, increase in the demand for healthy food products, and rise in government support for bioherbicides usage. Europe bioherbicides market accounted for significant share due to increase in the usage of bio-herbicides, high-quality fruits and vegetable cultivation, and rise in R&D activities for innovation of newer bioherbicides. Moreover, Asia Pacific bioherbicides market exhibiting significant growth, which is attributed to increase in population depending on the farming majorly in India and China, rise in adoption of organic farming practices, and increase in the demand for high quality and quantity yields are expected to propel growth of the market over the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
13.8% |
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By Source |
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By Mode of Application |
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By Formulation |
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By Region |
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The global bioherbicides market size was valued at US$ 1,251.7 million in 2023 and is projected to grow at a CAGR of 13.8% from 2024 to 2030.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key Market Players
Author
Manoj Kumar is a postgraduate in Life Sciences with over seven years of dedicated experience in the fields of animal health and agriculture. His passion lies in unraveling the complexities of these domains through rigorous research and practical insights. Manoj Kumar’s journey has been marked by several key achievements: as a market analyst and competitive intelligence expert, he dissects data to provide actionable insights for global clients. Simultaneously, he champions animal healthcare, diagnosing ailments, and designing preventive care strategies. In the realm of agriculture, his focus on sustainable practices, emphasizing crop nutrition, soil health, and precision agriculture. His holistic approach and commitment to advancing science make him a respected figure in the ever-evolving landscape of life sciences.