Bioherbicides Market Size Worth $3.88Bn, Globally, by 2028 at 12.1% CAGR - Exclusive Report by The Insight Partners
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Bioherbicides Market: Competition Landscape and Key Developments
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 key players operating in the market. Leading market players adopt various business strategies such as mergers and acquisitions to expand their geographical presence and consumer base globally.
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In 2020, North America dominated the global market. The region is expected to continue its dominance during the forecast period. The increasing interest of the population influences the bioherbicides market trends in North America for organically grown food products. The consumption of organic food items has become a popular trend in the last few years due to the growing awareness regarding a healthy diet, which has led to the increased focus on organic farming. The growing focus on organic farming in the region has led to increasing utilization of bioherbicides in such farms, thus, having a positive impact on the market. Consumers, nowadays, are inclined toward clean labels and seek transparency in every food they consume. Further, consumption of organic food items has become a popular trend in the last few years due to the growing awareness regarding a healthy diet. After North America, Europe has the second largest market share in the bioherbicides market.
The bioherbicides market for organic products is growing substantially due to the change in consumers' lifestyles and increased preference for healthy foods. The main reasons for the increase in demand for organic food are growth in the number of health-conscious individuals, increased environmental concerns, and support provided by the respective governments through subsidies and premium market environments. This provides opportunities to farmers worldwide to produce crops using organic methods, which further drives the market.
Bioherbicides Market Size: Segment Overview
Based on source, the global bioherbicides market is segmented into microbial, biochemical, and others. In 2020, the microbial segment held the largest market share. Microbial bioherbicides include microorganisms which helps in controlling the weeds.
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Based on application, the global bioherbicides market is segmented into cereals and grains, oil seeds and pulses, fruits and vegetables, turf and ornamentals, and others. The fruits and vegetables segment held the largest market share in 2020. Increased demand for fruits and vegetables and the popular trend of organic farming are expected to be responsible for the segment growth.
Based on source, the microbial segment held the largest share in the global bioherbicides market in 2020. Microbial bioherbicides include the presence of phytopathogenic microorganisms or microbial phytotoxins which are useful for biological weed control and are applied in similar ways to conventional herbicides. The microbial help in controlling the different types of weeds. The main microbial weed controlling fungi include coelomycetes, hyphomycetes, agaricomycetes, ascomycetes, and oomycetes.
Impact of COVID-19 Pandemic on Bioherbicides Market:
Many industries, including the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shutdown of the manufacturing units adversely affected the production and supply side of the market. Also, the logistics and transportation sector hampered the market due to lockdown. Due to the pandemic, consumers have become more and more health-conscious, which has led to increased demand for organic and healthy food products providing health benefits. Thus, the increased focus on organic food products during the pandemic positively impacted the bioherbicides market. Due to disruptions in supply chains and restrictions on international and domestic trade activities, the agricultural sector faced difficulties such as labor unavailability, market access restrictions, and transportation barriers. Also, farmers experienced difficulties in procuring farming inputs due to restrictions on the movement of people and goods, which hampered the bioherbicides market in the last two years.
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