BioHerbicides Market accounted for US$ 2.36 billion in 2020

The BioHerbicides Market accounted for US$ 2.36 billion in 2020 and is estimated to be US$ 7.02 billion by 2030 and is anticipated to register a CAGR of 11.5%.

The report "Global Bioherbicides Market, By Mode of Application (Seed Treatment, Soil Application, Foliar, and Post-Harvest), By Source (Microbial, Biochemical, and Others (Plant Phytotoxic Residues and Other Botanical Extracts)), By Formulation (Granular, Liquid, and Others (Pellets, Dust, and Powder Form)), By Application (Agricultural Crops, Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Non-Agricultural Crops, Turf & Ornamentals, and Plantation Crops), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.

Key Highlights:

In June 2020, Marrone Bio Innovations, Inc., an international leader in sustainable bioprotection and plant health solutions, announced that its flagship biofungicide, Regalia, holds more than 25% market share of the foliar biofungicide segment in California, outperforming direct competitors during January through April 2020.
In November 2019, BASF received an approval to introduce innovative new herbicide Luximax to Australian farmers
Analyst View:

Growing demand for organic products

The rise in the number of health-conscious individuals, growth in environmental concerns, and government support provided by the respective through subsidies and premium market factors are growing demand organic products in the market. This creates an opportunity for farmers across the globe to produce crops using organic methods, which further boost the global bioherbicides market. Furthermore, the bioherbicides market for organic products is rising at a significant rate due to growing consumer interest. There has been a substantial change in the preferences and eating habits of people, worldwide.