Global Bioherbicides Market Forecasts, 2021-2022 & 2028 – Rising Adoption of Seed Treatment in Developing Economies – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Bioherbicides Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Source, Mode of Application, and Application” report has been added to ResearchAndMarkets.com’s offering.
The bioherbicides market is expected to grow from US$ 1,747.83 million in 2021 to US$ 3,889.73 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028.
Bioherbicides live long enough in the soil to be effective in a productive growing season. Since they are not a danger to human health or crops, farmers prefer these to traditional herbicides.
Based on mode of application, the global bioherbicides market is segmented into seed treatment, soil application, foliar, and others. In 2020, the seed treatment segment led the bioherbicides market. Bioherbicides include active fungal ingredients or natural fungal molecules which helps in seed treatment, thus, reduce the use of chemical products. Bioherbicides include indigenous fungi that are biodegradable, which limits their spread and persistence and minimizes soil pollution.
The bioherbicides market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East & Africa (MEA). In 2020, North America dominated the global market. The change in the lifestyle of consumers and an increased focus on organic farming have propelled the demand for bioherbicides.
The increased application of bioherbicides in cereals and grains, oil seeds and pulses, fruits and vegetables, turf, and ornamentals is driving the demand for bioherbicides in North America. Asia Pacific is expected to be the fastest-growing region, followed by South and Central America.
Many industries, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and labor, the shutdown of factories, and other operational difficulties due to COVID-19 safety protocols adversely affected the bioherbicides market. The lockdown severely impacted the supply and production of bioherbicides, thus restraining the market’s growth.
However, vaccination drives led to a rise in business activities globally. The economies are reviving their operations, and the demand for bioherbicides is expected to rise globally in the coming years. Key manufacturers have resumed their operations, thereby restoring the production capacity of bioherbicides.
Seipasa; Bioherbicides Australia; Green Vision Life Sciences; Marrone Bio Innovations, Inc.; Valent Biosciences LLC; Weedout Ltd.; Aristo Bio-Tech and Lifescience Ltd; BIOSTADT India Limited; BASF SE; and Hindustan Bio-Tech are among the leading players in the bioherbicides market.
These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
Key Market Dynamics
Market Drivers
- Rapid Growth of Organic Farming
- Increasing Use of Turf Grass in Commercial Applications
Market Restraints
- Availability of Alternate Weed Control Methods
Market Opportunities
- Product Innovations
Future Trends
- Rising Adoption of Seed Treatment in Developing Economies
Company Profiles
- Seipasa
- Bioherbicides Australia
- Green Vision Life Sciences
- Marrone Bio Innovations, Inc.
- Valent Biosciences LLC
- Weedout Ltd
- Aristo Bio-Tech and Lifescience Ltd
- BIOSTADT India Limited
- BASF SE
- Hindustan Bio-Tech
For more information about this report visit https://www.researchandmarkets.com/r/72clg9
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