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.
Browse full research report on Bioherbicides Market: http://www.grandviewresearch.com/industry/bulk-chemicals
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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry-analysis/bioherbicides-market
Grand View Research has segmented the bioherbicides market
on the basis of application and region:
Global Bioherbicides Application Outlook (Revenue, USD Million,
2016 - 2024)
- Grains
and Cereals
- Oil
Seeds
- Fruits
and Vegetables
- Turf
and Ornament
Global Bioherbicides Regional Outlook (Revenue, USD
Million, 2016 - 2024)
- North
America
- U.S
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- India
- China
- Australia
- Central
& South America
- Brazil
- Middle
East and Africa
- Saudi
Arabia
About Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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