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(Wireless-NewsWire.Com, November 10, 2016 ) The Global Bioherbicides Market accounted for $12.8 billion in 2014 and is expected to grow at a CAGR of 17.46% reaching a value of $46.4 billion by 2022. The factors that are influencing the growth of the market are escalating demand for environmental friendly herbicides, low R&D costs, adoption of organic farming practices and growing demand for food safety & quality. Whereas, factors such as low consumer adoption of Biopesticides, risk of secreted metabolites by the microbes, high costs and low availability are restraining the growth of the market. However, advancements in genetic engineering, sustainable and integrated pest management techniques are considered as major opportunities for the market. Bioherbicide finds applications in crop control chemicals and leisure industry.
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Bioherbicides Market is segmented by crop type, by application and by geography. Depending on the various crop types, market is categorized as Arable crops, Permanent crops and Others. Based on application, market is classified into Grains & Cereals, Oil seeds, Fruits & Vegetables, Turf & Ornamental Grass. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia Pacific was the leading region in bioherbicide market in 2013 and is considered as one of the fastest growing markets with a forecast CAGR of 16.7%. China consumes more than 50% of herbicide in Asia-Pacific region. China and India had the highest demand in bioherbicide market in Asia Pacific region.
The key players in the Bioherbicides Market include Andermatt Biocontrol AG, BioHerbicides Australia, Bayer CropScience AG, Camson biotechnologies Ltd, Hindustan Bio-tech, ISAGRO Agrochemicals Pvt. Ltd., Jiangsu Dongbao Agrochemical Co., Ltd., MycoLogic Inc., Marrone Bio Innovations and Valent Biosciences Corp.
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