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Conservation of environment and evolution of green technology are some of the factors that support the growth of this market. Bioherbicides are highly selective, i.e. they kill only target weeds and do not cause harm to other useful crops. They are composed of naturally occurring substances, therefore the manufacturing cost incurred is very less as compared to synthetic herbicides.
The increasing demand for residue-free organic crops has promoted the growth of this market. Moreover, governments have been promoting the use of organically grown crops because of its health benefits and to meet crop export standards which provides this market a further boost. Although, bioherbicides have a low shelf life. It has a lower prevalence time as compared to synthetic pesticides, hence having a negative impact on market growth. The increased R&D in this sector has been one of the key opportunities that the bioherbicides market provides although its limited use is a challenge yet to be overcome by technology innovators.
This report covers all the key drivers, restraints, and challenges of the bioherbicides sector and the end-user applications of the same. To gain a better perspective of the market under study, the report is segmented as Application, Source, and by Region.
The global market for Bioherbicides is projected to reach a value of USD 2 Billion by the year 2028 from a value of USD 5 Billion for the year 2020. The market is expected to grow with a CAGR of 17% during the forecast period.
Based on global regions, APAC dominates the global market for bioherbicides, it has a market share with a value of more than one-third of the global market revenue. Developing countries are rapidly shifting from conventional farming methods to organic methods given government regulations that restrict the use of agrochemicals. Moreover, due to the increasing population in this segment, crop cultivation takes place on a wide scale hereby supporting the growth of the bioherbicides market. Additionally, the increasing disposable income of the general middle class also favour the market growth. North America and Europe are other prominent players in this market.
The study period of the report titled,” The Global Bioherbicides-Market and Technology forecast to 2028” ranges from 2018-2028, and the forecast period for this market ranges from 2020-2028. This report is segmented based on Application, Source, and by Region
This report is aimed at:
- Insights concerning the drivers, restraints, and challenges and their effects on the global market have been provided in this report.
- Upcoming technologies and their impact on the market growth have been discussed
- The strategies employed by the key players of this field have been studied thoroughly in this report.
- Porter’s Five Forces and PESTLE Analysis are used to provide a strategic analysis of the data.
- A comprehensive mapping of the competitive landscape for this market has been provided.
- The high growth markets have been studied in the opportunities chapter of this report.
Segmentation covered in this report
The market is segmented based on Application/End-User, Source and by Region.
- Others (pellets, dust, and powder form)
- North America
- Asia Pacific
- Latin America
- Rest of the World (RoW)
- Cereals and Grains
- Oilseeds and pulses
- Fruits and Vegetables
- Turf and Ornamentals
• Mode of Action Involving Photosynthesis
• Mode of Action Targeting Enzymes
- United States
- United Kingdom
- The drivers, restraints, and challenges of this market have been discussed which can be of help to potential players wanting to know the impacts of the DRCs of the market growth.
- Insights concerning the comprehensive mapping of the key players and the strategies employed by them have been mentioned in this report, this can help the design strategies of their own.
- Financial Institutes can use this report to strategize funding and investments concerning the market hot-spots.
- Government and private organizations can use this report to explore the high growth markets.
- Technology Innovators: Can use this report to understand the market demand for their products and accordingly deliver agricultural solutions.
- Governments, Associations, and Industrial Bodies: Can use this report to understand the grey areas of the existing market and strategies that could help them improve their market condition.
- Investors and Trade Experts: Can use this report to identify research that shows potential and develop funding strategies for the same.
- Sales sectors: Can use this report to understand the demand for this product to make efficient sales.