Description

The Global Bioherbicides Market size was estimated at USD 1,251.7 Mn in 2021, growing at a CAGR of 13.8 % during the forecast period 2021-2027. Herbicide is a pesticide which is used to kill 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 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. 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.

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