Bioherbicides Market projected to grow with significant CAGR over the forecast period
Bioherbicides Market projected to grow with significant CAGR over the forecast period
Bioherbicides Market: an Overview
Bioherbicides are either phytotoxic extract of plants or derived from naturally occurring microbes such as fungi, protozoa, bacteria etc. These bioherbicides act on unwanted plants present on farm lands and prevent their unwanted growth. Unlike conventional used synthetic herbicides they don’t cause soil and water pollution and are safe for farmers to use. Also, food grown using bioherbicides are safe for consumption.
Drivers and Constraints for Bioherbicides Market
Drivers – Demand for organic food, need for higher crop yield with better quality and low chemical hazards, government support for eco-friendly farming, benefits of using bioherbicides over synthetic herbicides, low R & D cost and easier residue management, strict regulations on import of foods grown using synthetic herbicides etc.
Constraints – High cost and low availability of the product, risk of toxic secretion by microbes etc.
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Bioherbicides Market – Segmentation
Bioherbicides market can be segmented on the basis of source, mode of application, formulation, and on the basis of regions.
On the basis of source, the bioherbicides market can be segmented as below:-
• Microbials
• Biochemical
• Others
On the basis of mode of application, the bioherbicides market can be segmented as below:-
• Soil
• Seed
• Foliar
• Post-harvest
On the basis of formulation, the bioherbicides market can be segmented as below:-
• Liquid
• Granular
• Powder
• Others
Analysis of the Bioherbicides Market Based on Regions
On the basis of regions, the bioherbicides market can be divided into five important regions. They are:-
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa
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North America is likely to see a significant growth in the forecasted period mainly due to factors like – increase in fruits and vegetables production; demand for better quality food products; more and more adoption of eco-friendly farming practices; government support to promote bioherbicides usage etc.
In Europe, factors that are likely to drive growth are – more adoption of bioherbicides, increase in fruits and vegetable production and intense R & D activities by players to develop better products.
Due to agriculture being the primary economic activity in country like India and China makes Asia-Pacific a very important market for the bioherbicides market. There is a continuous demand for better and high yield crops. Also, popularity of organic farming in this region will boost the market further.
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Major Players in the Bioherbicides Market
Names of few major players in the bioherbicides market are as provided below:-
• 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)
• Hindustan Bio-tech (India)
Bioherbicides Market – Key Developments
• April, 2017 – Partnership between Premier Tech and Agri-Food Canada for development and commercialization of bioherbicide formulated from an indigenous fungus (Phoma macrostoma).
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