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.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/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.
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/bulk-chemicals
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
o
U.S
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
India
o
China
o
Australia
·
Central & South America
o
Brazil
·
Middle East and Africa
o
Saudi Arabia
For press release of this report - http://www.grandviewresearch.com/press-release/global-bioherbicides-market
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