The global bioherbicides market size was valued at USD 1.28 billion in 2016 and is expected to develop at an estimated CAGR of 15.7% over the forecast period. Rising consumer awareness regarding the benefits of bioherbicides and strict food and environment regulations to promote organic farming are expected to be the major drivers for the market.
The use of chemical-based herbicides contributes in creating soil and water pollution. Chemicals used in herbicides can severely affect human health if consumed through food. Bioherbicides are compounds derived from microbes such as bacteria, protozoa, and fungi. Such types of compounds are safe for consumption, are less harmful, and do not possess any negative impact on farmers during the handling process. Due to these benefits manufacturers are focusing on developing organic products.
In 2015, the U.S. generated a revenue of USD 267.7 million. Turf and ornamental grass dominated the application segment in the country. Increasing consumer awareness along with widespread regulations about the use of chemicals in herbicides have significantly contributed to the region’s growth. Bioherbicides are cost-effective, eco-friendly and their usage does not harm other organisms, which are necessary for crop growth. Rising awareness regarding these advantages is expected to fuel market demand over the coming years. Manufacturers, in association with local governing bodies, are focused on conducting awareness programs to educate farmers regarding the harmful chemical impacts of synthetic herbicides. This is expected to have a positive impact on the demand for bioherbicides, thereby increase spurring market growth.
Higher pest-resistance along with the presence of herbicide residues on tolerant crops such as soybean and maize are negatively affecting the consumption of synthetic herbicide. Thus, developed countries have posed strict regulations for importing such crops, which, in turn, is expected to spur demand for bioherbicides. Bioherbicides are also gaining popularity in integrated pest management systems. However, the availability of chemical-based substitutes, which are known to show better results than bioherbicides may hinder market growth over the forecast period.
Fruits and vegetables emerged as the leading application segment in the bioherbicides market owing to the extensive consumption of bioherbicides for the cultivation of these products. The rising demand for fruits and vegetables coupled with the popular trend of organic farming is projected to be the vital factor responsible for the segment growth. Turf and ornamental grass emerged as the fastest-growing application segment, which is projected to expand at a CAGR of 16% during the forecast years. Bioherbicides are also used commercially for clearing unnecessary weed around railway tracks.
Rising demand from the organic horticulture industry for controlling weed, as well as beneficial public support policies, are driving end-use industries to increase the applicability of bioherbicides. All these factors are estimated to fuel market demand over the forecast period.
North America accounted for 29.5% of the market in 2015 and is projected to expand at a CAGR of 15.3% during the forecast years. This growth is driven by a positive outlook toward environmental safety concerns and organic farming. Initiatives for increasing consumer awareness regarding environment and health are projected to play a key role in the region’s development, particularly in the U.S. and Canada.
Asia Pacific emerged as the fastest-growing region accounting for 16.6% of the overall market share in 2015. It is projected to expand further due to increasing awareness about the environmental hazards of synthetic products. Rising demand for bioherbicides from SAARC nations owing to rural development would drive the region further.
Bioherbicide manufacturers invest in R&D to identify potential micro-organisms used in manufacturing and to develop innovative products suitable for different geographical terrains such as wetland, grasslands, and coastal areas. Capacity growth and new product launches are key strategies in the industry. The market trend also signifies notable expansion and acquisition activities. Companies in the global market are Bioherbicides Australia (BHA); HerbaNatur, Inc.; Hindustan Biotech; Fitz Chem Corporation; Engage Agro USA, LLC; and Mycologic, Inc.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the global bioherbicides market report on the basis of application and region:
Application Outlook (Revenue, USD Million, 2014 - 2024)
Grains and Cereals
Fruits and Vegetables
Turf and Ornament
Regional Outlook (Revenue, USD Million, 2014 - 2024)
Central and South America
The Middle East and Africa (MEA)
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPA norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."