Market Outline: Global Bioherbicides Market
Herbicide is a pesticide which is used to kill the unwanted plants. Bioherbicides are 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 the 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.
Market Dynamics: Bioherbicides Market
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 bioherbicides 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 bioherbicides market over the forecast timeframe. However, risk of secreted toxic metabolites by microbes, high cost of the bioherbicides, and lesser availability of products are expected to hinder the growth of bioherbicides market over the forecast period.
Market Scope: Bioherbicides Market
It is segmented on the basis of source, mode of application, and formulation
Based on the source, it is segmented into the following:
Based on the mode of application, it is segmented into the following:
Based on the formulation, it is segmented into the following:
Market Summary: Bioherbicides Market
Global Bioherbicides 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 bioherbicides 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 global bioherbicides market. For instance, in May 2012, Marrone Bio innovations received U.S. Environmental Protection Agency approval for MBI-005, a broad-spectrum bioherbicide used on variety of crops. In addition, in May 2014, Emery Oleochemicals received Canada’s Health Pest Management regulatory Agency approval for Emerion 7005, a bioherbicide used in weed and crop management.
Regional Analysis: Bioherbicides Market
Geographically, Bioherbicides market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America bioherbicides 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 in the Europe bioherbicides market. 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.
Market Participants: Bioherbicides Market
Some of the players in bioherbicides market are Deer Creek Holdings (U.S.), Emery Oleochemicals (Malaysia), Marrone Bio Innovations Inc. (U.S.), Verdesian Life Sciences, LLC (U.S.), EcoPesticides International, Inc. (U.S.), Innovative Biologicals (Canada), MycoLogic Inc. (U.S.), Bioherbicides Australia Pty Ltd. (Australia), and Hindustan Bio-tech (India) to name a few.
Notable Market Developments: Bioherbicides Market
- In April 2017, Premier Tech partnered with agriculture and Agri-Food Canada for the development and commercialization of bioherbicide formulated from an indigenous fungus (Phoma macrostoma)
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2016) and forecast (2017-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market