Bioherbicides Market is estimated to grow at a CAGR 18.57% throughout the forecast period
Knowledge Sourcing Intelligence announces the publication of a new report on “Bioherbicides Market – Forecasts from 2020 to 2025" to their offering.
Bioherbicides are used to control weeds and do not pose any negative environmental impact.
According to the report, the bioherbicides market is projected to increase at a CAGR of 18.57% over the forecast period 2019-2025.
Growing concerns regarding the adverse impact of synthetic herbicides on the environment as well as human health is the major driver of bioherbicides market. Farmers across the globe are increasingly using bioherbicides to save their crops from weeds while protecting the environment, thereby driving the market growth of bioherbicides. Rising investments in R&D by global market players to develop efficient and cost-effective bioherbicides will continue to propel the growth of bioherbicides market during the next five years. Strict government regulations as well as favourable policies to promote the adoption of bioherbicides is another major factor that is bolstering the growth of bioherbicides market globally. However, bioherbicides are much more expensive than synthetic herbicides. Since farmers are end-users, there has been a low adoption of bioherbicides in developing countries which is still hindering the bioherbicides market growth to reach its full potential.
The global bioherbicides market has been segmented on the basis of agent, application, and geography. On the basis of agent, the classification of global bioherbicides market is done as fungi, bacteria, and virus. By application, the segmentation of global bioherbicides market is done on the basis of agricultural and non-agricultural.
Geographically, the global bioherbicides market has been classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. The North American region is anticipated to hold a substantial share in the global bioherbicides market primarily on the account of early adoption of technology along with the presence of major market players in the region. Europe also holds a substantial market share owing to the stringent regulations in European Union countries regarding environmental sustainability. High investments in R&D in these regions is also contributing to the growth of bioherbicides market. Asia Pacific will, however, witness a decent CAGR during the forecast period.
The major players covered as part of the report are BHA (BioHerbicides Australia), Certified Organics Australia, Emery Oleochemicals , and MycoLogic among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-bioherbicides-market
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