Bioherbicides Market size was valued at USD 1,251.7 Mn in 2022, growing at a CAGR of 13.8 % during the forecast period 2023-2029. Herbicide is a pesticide that is used to kill unwanted plants. Bioherbicides Market is 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.
Fastest Growing 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 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 market over the forecast timeframe. However, risk of secreted toxic metabolites by microbes, high cost of bioherbicides, and lesser availability of products are expected to hinder the growth of the market over the forecast period.
The key segments covered in the Bioherbicides Market are: by Source, Application, Formulation, Distribution channel
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.