Bioherbicides Market Overview
The Global Bioherbicides Market projected to reach USD 2.35 billion by 2024 and is expected to register a CAGR of 14.2% during the forecast period from 2019 to 2024. The bioherbicides market is growing at a rapid pace mainly due to its extensive demand in the burgeoning agriculture sector. The ever-increasing population worldwide is constantly promoting the growing demand for food. Moreover, the rapidly proliferating organic food market is escalating the Bioherbicides Product Market on the global platform.
The global bioherbicides market has been segmented based on source, mode of application, crop type, and region.
By Source, the global bioherbicides market has been bifurcated into microbials, biochemicals, and others.
Based on The Mode Of Application, the global bioherbicides market has been classified as a seed treatment, foliar, soil application, and others.
Based on Crop Type, the global bioherbicides market has been categorized as cereals & grains, fruits & vegetables, oilseed & pulses, and others.
The global bioherbicides market has been studied with regards to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
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Key players leading the global Bioherbicides market include Deer Creek Holdings (US), Emery Oleochemicals (Malaysia), Verdesian Life Sciences (US), ACO Certification Ltd (Australia), Marrone Bio Innovations (US), BHA (Australia), EcoPesticides (US), Special Biochem (India), and Hindustan Bio-Tech Chemicals & Fertilizers Ltd. (India) among others.
The Asia Pacific region heading with the ever-increasing population that accounts for more than 41% of the worldwide population and the presence of developed as well as developing countries, dominates the global Bioherbicides market. China and India which are highly populated, largely dependent on agriculture and currently are in the developing phase, are becoming the most lucrative markets for Bioherbicides, globally.
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The US and Canada are not only well-developed in the segments mentioned above but are also using the Bioherbicides from a very long time. Also, factors such as the extensive production of key crops such as barley, corn, cotton, oats, peanuts, rice sorghum, soybeans, and wheat in this region and the popularity of organic produce, propel the growth of the regional market.
The global bioherbicides market appears to be highly competitive characterized by the presence of several well-established players. These players are focusing on optimized situational awareness for customers and thus to ensure their mission success. Matured players are increasingly seeking market expansion through various strategic initiatives such as mergers and acquisitions, innovation, and are increasingly investing in research and development to develop cost-competitive product portfolio.
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