January 06, 2021
According to the recent research report titled, ‘Global Bioherbicides Market Analysis, 2020’, available with Market Study Report LLC, global bioherbicides market is projected to witness a y-o-y growth rate of 22% during 2020-2025.
Growing government involvement in promoting eco-friendly bioherbicides, supportive regulatory outlook in developed economies, and increasing R&D investments for product development are the key factors stimulating global bioherbicides market growth. In addition, surging demand for organic food products and easy residue management with low environmental impact are also contributing to the overall market outlook.
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Increasing product usage in IWM (Integrated Weed Management) and an upward trend in organic farming practices are augmenting global bioherbicides industry share. IWM is basically the control of weeds by incorporating cultural, biological, genetic, physical, as well as chemical weed management techniques through a long-term management approach. The IWM researchers are focusing on reducing the dependency of cropping systems on synthetic herbicides, which in turn is adding traction to global bioherbicides industry size.
With respect to application spectrum, agriculture crop type segment is anticipated to dominate worldwide bioherbicides market share over 2020-2025. Meanwhile, the fruits and vegetables segment held a significant market share in 2019, on account of escalating demand for fruits and vegetables, mounting population and shifting preferences towards organic food products.
Citing the competitive landscape, established companies in global bioherbicides market sphere are Soiltech India Pvt. Ltd., Alphabio Control Ltd., Marrone Bio Innovations Inc., Valent BioSciences LLC, Syngenta, Seipasa SA, IsAgro Asia Agrochemicals Pvt. Ltd., De Sangosse Ltd., Certis Group, BASF SE, and Agrauxine.
These companies are focusing on business-centric strategies such as mergers & acquisitions, innovative product launches, and research & development investments. For instance, Marrone Bio Innovations, a key contender in global bioherbicides market, has a strong pipeline of three approved products, 1 nematicide and 2 herbicides. The firm has a record of product innovation owing to its prioritization of research & development efforts.