Bioherbicide Market to Exhibit a Remarkable Growth of USD 4650.0 million, Rising at 14.5% CAGR | Exactitude Consultancy

Bioherbicides Market

Bioherbicide Market growth is being driven by environmental awareness, regulatory support, and sustainable agriculture.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The global bioherbicides market was valued at 1805.0 million in 2022 and is projected to reach 4650.0 million by 2029, growing at a CAGR of 14.5% from 2023 to 2029.

Bioherbicides are herbicides composed of pathogens, phytotoxins, and other microbes that are used to biologically suppress weeds. Bioherbicides are either single compounds, extracts, or phytotoxic plant residues derived from other plant species, or secondary metabolites and chemicals derived from microorganisms such as fungi, bacteria, or protozoa. Bioherbicides are herbicides derived from natural sources such as plants, fungi, bacteria, or viruses that are used to control or manage weed growth. Bioherbicides, as opposed to synthetic herbicides, are considered environmentally friendly and sustainable due to their low toxicity and biodegradability.

The Bioherbicides market is expected to be driven by factors such as the increasing environmental harm caused by the use of synthetic herbicides, the population's growing demand for organic horticulture products, and the growing use of bioherbicides in the industry's leisure & crop control chemicals. The global bioherbicides market is thoroughly examined in the study. The growing area under organic cultivation, combined with growing concerns about the impact of pesticide use on biodiversity, is fueling the growth of the bioinsecticide industry. Biological crop protection is becoming more important on a global scale. The government has encouraged the use of bioherbicides by enforcing laws and regulations that promote environmental sustainability.

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Recent developments

• 14 November 2022: Emery Oleochemicals launched the new LOXIOL metal filament products which were showcased at the Formnext 2022 exhibition and conference taking place in Frankfurt am Main, Germany.

• Marrone Bio Innovations, Inc. has acquired exclusive rights to high-performing strains of Streptomyces acid scabies, enabling the speedy commercialization of a brand-new, second-generation bioherbicide known as MBI-006. These strains, developed and licensed by Novozymes, a pioneer in industrial enzymes and microorganisms, will improve MBI-006 utilization rates, boost performance, and reduce production costs when added. Due to an increase in herbicide-resistant weeds2, which are costing maize and soybean growers in the US and Canada upwards of USD 43 Million yearly, this discovery makes MBI’s entry into the USD 27 Million herbicide industry more competitive.

The Asia Pacific region’s bioherbicides market is anticipated 34% to develop at the greatest CAGR.

The market for bioherbicides in this region is anticipated to be driven by rising agricultural practices and consumer demand for high-quality agricultural products. The need for bioherbicides in a variety of crop uses, such as pulses, cereals, grains, and oilseeds, is anticipated to increase as the population in industrialized countries shows an increased interest in food goods grown organically.

Bioherbicide Market Technological Trends

• Biological Formulations:

Advances in formulation technologies for bioherbicides, such as encapsulation and microencapsulation, to improve stability, shelf life, and efficacy of the bioherbicide products.

• Biotechnological Innovations:

Continued research in biotechnology for the development of genetically modified microorganisms (GMOs) with enhanced herbicidal properties.

• Microbial Consortia:

Exploration of microbial consortia, which involve combinations of different microorganisms working synergistically to target a broader spectrum of weed species and improve overall efficacy.

• Omics Technologies:

Integration of omics technologies, such as genomics, proteomics, and metabolomics, to better understand the interactions between bioherbicides and target weeds, leading to more precise and effective formulations.

• Precision Agriculture:

Integration of bioherbicides into precision agriculture systems, utilizing technologies like GPS, sensors, and data analytics to optimize the application of bioherbicides and minimize environmental impact.

Key Aspects of The Bioherbicide Market:

• Increasing Demand for Sustainable Agriculture:

Growing awareness of environmental concerns and the need for sustainable farming practices has driven interest in bioherbicides.

• Research and Development:

Ongoing research and development efforts to discover and commercialize new bioherbicide formulations with improved efficacy, specificity, and safety.

• Market Growth and Investment:

The bioherbicide market has experienced growth, with increasing investment from both public and private sectors to support research, development, and commercialization.

• Crop Diversity:

Bioherbicides are being developed for a variety of crops, including cereals, fruits, vegetables, and other specialty crops, providing a wide range of options for farmers.

• Regulatory Environment:

The regulatory landscape for bioherbicides has been evolving, with efforts to establish clear guidelines and standards for their registration and use in agriculture.

Segmental Analysis

Rising Global Population to Surge the Demand for Food and Bioherbicides

The agricultural crop segment is anticipated to lead the bioherbicides market on account of the increasing consumption of bioherbicides for cultivation. As per the report shared by the United Nations, the Department of Economic and Social Affairs (UN DESA), the global population is expected to reach 8.5 billion in 2030 and 9.7 billion in 2050, which will increase the demand for cereals, oilseeds, and vegetables that will boost the use of bioherbicides for better crop yield.

The Organization for Economic Co-operation and Development has projected that global cereal production is predicted to expand by 13% by 2029, which will propel the growth of the bioherbicides market. In addition to this, according to Trade Map, the total value of cereals imported worldwide increased from 110.16 million in 2022 to 119.13 million in 2029. The growing demand for fruits and vegetables, along with the debouching trend of organic farming is projected to increase the demand for bioherbicides. According to the Agricultural and Processed Food Products Export Development Authority's (APED) Agri Exchange, the fruits and vegetable segment in the food processing industry accounted for 282.5 million metric tons of production in the year 2022 and 2029, which will further increase in the coming years.

Bioherbicide Market Players

• Emery Oleochemicals
• Deer Creek Holdings
• Verdesian Life Sciences LLC
• Marrone Bio Innovations Inc.
• Certified Organics Australia Pty Ltd.
• EcoPesticides International Inc.
• Bioherbicides Australia Pty Ltd.
• Hindustan Bio-tech
• Special Biochem Pvt. Ltd.
• IsAgro SpA

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Key Market Segments: Bioherbicides Market

Bioherbicides Market by Source, 2023-2029, (USD Million) (Thousand Liter)

• Microbial
• Biochemical

Bioherbicides Market By Mode Of Application, 2022-2029, (USD Million) (Thousand Liter)

• Seed Treatment
• Soil Application
• Foliar
• Post-Harvest

Bioherbicides Market By Formulation, 2022-2029, (USD Million) (Thousand Liter)

• Granular
• Liquid
Bioherbicides Market By Application, 2022-2029, (USD Million) (Thousand Liter)

• Agricultural Crops
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Non-Agricultural Crops
• Turf & Ornamentals
• Plantation Crops

Market Dynamics

1. Drivers:

a. Increasing Demand for Organic Products:

- Growing consumer awareness and preference for organic and sustainable products drive the demand for bioherbicides, as they are considered environmentally friendly and less harmful to humans.

b. Stringent Regulations on Chemical Herbicides:

- Governments and regulatory bodies are imposing stricter regulations on chemical herbicides, encouraging the adoption of bioherbicides as an alternative that is perceived to have lower environmental impact.

c. Rising Concerns about Chemical Residues:

- Heightened awareness about the residues of chemical herbicides in food and the environment is leading to a shift towards bioherbicides, which are often perceived as safer and more sustainable.

d. Advancements in Biotechnology:

- Ongoing advancements in biotechnology, including genetic engineering and microbial technology, contribute to the development of more effective and targeted bioherbicide solutions.

2. Restraints:

a. Limited Effectiveness:

- Bioherbicides may sometimes have limited effectiveness compared to their chemical counterparts, which can impact their adoption in certain agricultural scenarios.

b. Cost Considerations:

- Bioherbicides can be more expensive to produce and implement than conventional chemical herbicides, which may be a barrier for some farmers, particularly those in developing regions.

3. Opportunities:

a. Increasing Agricultural Practices:

- The expanding global population and the need for increased food production present opportunities for the bioherbicide market to grow as an integral part of sustainable and environmentally friendly agricultural practices.

b. Research and Development:

- Continued research and development efforts can lead to the discovery of new, more effective bioherbicide formulations, opening up opportunities for innovation and market expansion.

4. Challenges:

a. Limited Awareness and Education:

- Farmers may lack awareness or education about the benefits and proper use of bioherbicides, posing a challenge to their widespread adoption.

b. Resistance Management:

- Just as with chemical herbicides, there is a risk of weeds developing resistance to bioherbicides over time. Effective resistance management strategies need to be implemented.

c. Scale of Production:

- Achieving large-scale production of bioherbicides at a cost-effective level can be challenging, particularly for small and medium-sized enterprises.

Key Question Answered

• What is the expected growth rate of the bioherbicides market over the next 7 years?
• Who are the major players in the bioherbicides market and what is their market share?
• What are the end-user industries driving demand for the market and what is their outlook?
• What are the opportunities for growth in emerging markets such as Asia-Pacific, the Middle East, and Africa?
• How is the economic environment affecting the bioherbicides market, including factors such as interest rates, inflation, and exchange rates?
• What is the expected impact of government policies and regulations on the bioherbicides market?
• What is the current and forecasted size and growth rate of the global bioherbicides market?
• What are the key drivers of growth in the bioherbicides market?
• Who are the major players in the market and what is their market share?

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