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Bioherbicides Market is Expected to Reach US$ 2,895.2 Million by 2024: IMARC Group

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Bioherbicides Market is Expected to Reach US$ 2,895.2 Million by 2024: IMARC Group

June 05
20:41 2019
Bioherbicides Market is Expected to Reach US$ 2,895.2 Million by 2024: IMARC Group

Global Bioherbicides Market to Reach US$ 2,895.2 Million by 2024, Fostered by Popularity of Organic Farming – IMARC Group
Over the past few years, the global bioherbicides market has witnessed robust growth. This can be accredited to the growing awareness about the risks posed by synthetic herbicides and benefits of organic farming along with several government initiatives to promote the use of bioherbicides.

According to the latest report by IMARC Group, titled “Bioherbicides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global bioherbicides market reached a value of US$ 1,428.1 Million in 2018. Bioherbicides are a kind of pesticides which are used for preventing the growth of unwanted weeds or plants that consume water, sunlight and nutrients meant for crops and inhibit their growth. These herbicides comprise microorganisms such as fungi, bacteria and viruses as well as certain insects like lady butterfly and parasitic wasps. Additionally, they can last long enough in the soil to be effective in the succeeding growing season. Since they do not pose a risk to the crop or human health, they are being increasingly preferred by farmers over conventional herbicides.

Market Trends:

The growing awareness about the health risks posed by the use of synthetic herbicides is the key factor driving the market growth. The chemicals present in the synthetic variants harm the crops which, if consumed, affect human health. Consumption of food produced from crops grown using synthetic herbicides is considered to escalate the risk of serious health issues such as cancer. Moreover, shifting preference of the majority of the population toward a nutritional diet is impelling the demand for organic produces, which is encouraging the practice of organic farming across the globe. Also, bio-based herbicides are a cost-effective and eco-friendly option as compared to the conventionally used herbicides, which further contributes to their demand. Apart from this, governments of several countries are encouraging the use of these herbicides which is creating a positive outlook for the market. For instance, the Government of India is providing capital investment subsidy for commercial production units manufacturing organic and bio-fertilizers under the National Project on Organic Production scheme. Additionally, advances in genetic engineering have contributed to the development of highly effective bioherbicides, thus further catalyzing the market growth. On account of the aforementioned factors, the global bioherbicides market size is expected to reach US$ 2,895.2 Million by 2024, expanding at a CAGR of 12.5% during 2019-2024.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/bioherbicides-market/requestsample

Market Summary:

Market Breakup by Crop Type

1. Agricultural Crops
2. Non-Agricultural Crops

On the basis of the crop type, the market has been bifurcated into agricultural crops and non-agricultural crops. Amongst these, agricultural crops represent the most preferred product type.

Market Breakup by Source

1. Microbial
2. Biochemical
3. Others

Based on the source, the market has been divided into microbial, biochemical and others. The microbial segment currently holds the dominant market share.

Market Breakup by Mode of Application

1. Seed Treatment
2. Soil Application
3. Foliar
4. Post-Harvest

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/bioherbicides-market

On the basis of the mode of application, bioherbicides are mostly used for seed treatment. Other major application segments include soil application, foliar and post-harvest.

Market Breakup by Mode of Action

1. MOA involving Photosynthesis
2. MOA Targeting Enzymes
3. Others

Based on the mode of action (MOA), MOA involving photosynthesis holds the dominant market share, followed by MOA targeting enzymes and others.

Market Breakup by Formulation

1. Granular
2. Liquid
3. Others

On the basis of the formulation, the market has been classified into granular, liquid and others. Currently, granular formulation exhibits a clear dominance in the market.

Market Breakup by Region

1. Asia Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America

On the geographical front, the market has been segregated into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. At present, Asia Pacific holds the leading position in the market.

Competitive Landscape

The competitive landscape of the market has also been analyzed in the report with some of the major players being Marrone Bio Innovations Inc., Emery Oleochemicals, Deer Creek Holdings, Verdesian Life Sciences, Certified Organics Australia PTY Ltd, Ecopesticides International, Inc., Special Biochem Pvt. Ltd, MycoLogic, Hindustan Bio-Tech, Bioherbicides Australia PTY Ltd. and Engage Agro USA.

Browse similar reports by IMARC Group

Bioactive Ingredients Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

Biofertilizer Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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