Trending News: Bioherbicides Market Size, Share, Trends, Growth, Analysis, Research
Global Bioherbicides Market: Key Highlights
- According to the new market research report “Bioherbicides Market by Source (Bacteria, Plant Extract, Virus, Mineral and Others), by Form (Granular and Liquid), by Application (Agricultural and Non-agricultural), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global bioherbicides market is projected to grow at CAGR 11.1% and reach USD 4.22 billion by 2027
- Growing global demand for food owing to increasing population at a rapid pace is driving demand for bioherbicides
- Rising awareness regarding hazardous and toxicity of herbicides on the environment and human health is fueling the demand for bioherbicides
- High production cost of bioherbicides escalates the overall bioherbicides cost, which hampers the overall market growth
Global Bioherbicides Market: Key Market Dynamics
- Growing global population resulting into higher demand for agricultural yield is driving the demand for bioherbicides
- Rising concern regarding reducing the ill-effects of the herbicides on human and environment is fueling the demand for bioherbicides. Conventional herbicides lead to genetic and permanent deformities on human body, resulting into demand for better substitute
- High cost of bioherbicides production as it is obtained from natural and living organism is restraining the growth of this market
- Ongoing investment towards research and development dedicated for extending shelf-life is creating new market opportunities for bioherbicide market growth
- Biological and commercial restriction of bioherbicides are the key challenges for the market growth
Global Bioherbicides Market: Regional Overview
- North America
North America has emerged as the promising region in the global bioherbicide market and is expected to continue the trend in the years to follow. Increasing efforts towards adoption of more efficient and advanced agricultural practices in the North America, is driving the demand for bioherbicides. Increasing soil toxicity owing to excessive use of hazardous chemicals is generating demand for ecofriendly herbicide alternative, which is further favoring the market growth. Increasing consumer awareness regarding consumption of safe food products along with strict regulation by the U.S. Environmental Protection Agency (EPA) on use of herbicide is further fueling he demand for biological herbicdes market.
In Asia-Pacific, the bioherbicide market is expected to witness strong growth in the forecast period owing to rising demand for increasing agricultural yield. Increasing population in countries such as China, India, creating higher demand for food and agricultural outcome coupled with reduction in arable land is increasing demand for bioherbicides. In addition to this, ongoing advancement in farming technique, increasing governmental support for use of eco-friendly and toxic free pesticides is pushing demand for bioherbicides.
Global Bioherbicides Market: Key Players Overview
- Koppert Biological Solution:
Koppert Biological Solution operates through synthesis of agricultural solution for enhancing the agricultural practices. The company provides safe and eco-friendly solutions dedicated towards increasing efficiency and productivity of the farms. The company offers pest control products, disease control products, pollination products, growth promotors, monitoring and application products. In 2018, the company invested more than USD 22.9 million for research and development of bioherbicides with plans to expand its footprint in Brazil.
- Deer Creek Holding:
With headquarters in Canada and US, Deer Creek Holding offers bioherbicides through its agrichemical business. The company operates through agribusiness, chemicals, food and beverage, healthcare and precision engineering components segment. In agrichemicals, it offers Seed Treatments Applied Technologies, Seed Application Technologies, soil amendment, Integrated Pest Management (IPM) Products, Water Management Products, Precision Agriculture Products and post-harvest products.
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