The global bioherbicides market is
expected to reach USD 4.14 billion by 2024, according to a new report by Grand
View Research, Inc. Growing eco-friendly weed killer demand on account of
increasing organic farming preference over synthetic methods is expected to
remain a key driving factor for global bioherbicides market. In addition,
sustainable crop cultivation practices development is also anticipated to
positively influence the market growth. High quality and nutritional fruit
& vegetable cultivation with the help of bioherbicides are expected to
significantly contribute towards industry development.
The shift in consumer’s trend
towards nutritional and greener diet has given rise to organically produced
vegetables and food grains demand which in turn is anticipated to drive
industry growth over the forecast period. Easy availability coupled with
affordable prices of synthetic herbicides is expected to a pose challenge to
bioherbicides market. In addition, lack of awareness among farmers is also
anticipated to negatively impact the product preference for cultivation
purposes.
Fruit and vegetable sector was
the leading application segment and accounted 27.3% of total revenue in 2015.
Turf and ornament segment is anticipated to witness the highest growth of 16%
from 2016 to 2024. The product finds its application in gardening, clearing of
railway tracks, gold course maintenance which is anticipated to further
contributed expand the application base in turf and ornament sector.
U.S. bioherbicides market
revenue by application, 2014-2024, (USD Million)
Browse full research report on
Bioherbicides Market
Further key findings from the
report suggest:
- Global
bioherbicide market was valued at USD 1.12 billion in 2015 and is expected
to reach USD 4.14 billion by 2024, growing at a CAGR of 15.7% from 2016 to
2024
- North America
was the leading regional market and accounted for 29.5% of global revenue
in 2015. Government initiatives and increasing consumer awareness
regarding health and environmental issues particularly in the U.S. are
expected to drive the regional market over the forecast period.
- Asia Pacific
is expected to witness the highest growth of 16.1% from 2016 to 2024.
Increasing product demand in Australia is anticipated to significantly
contribute to the overall regional growth.
- Key players
operating in the global bioherbicides industry include Bioherbicides
Australia (BHA), Hindustan Biotech, Marrone Bio Inventions, Fitz Chem
Corporation, Emery Oleochemicals, Mycologic Inc and Engage Agro USA.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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