This industry analysis segments the bioherbicide market based on consumptions by permanent crops, arable crops, and others. It includes market shares for APAC, Europe, Latin America, and ROW. The report also presents an insightful study of the key vendors of the bioherbicide market, including AVD, AMVAC, Hindustan Bio-tech, Isagro, Jiangsu, Marrone, and Valent.
Technavio analysts predict the Global Bio-herbicides Market 2015-2019 to grow at a CAGR of around 20% between 2015 and 2019 owing to increased demand for herbicides in agricultural activities across the globe. APAC occupies the largest share of the bio-herbicides market reaching over $268 million in 2014, and it is closely followed by North America, Europe, Latin America, and ROW. Thanks to the growing awareness of the ill-effects of synthetic herbicides, there is a surge in demand for bio-herbicides in the APAC region, where the market is estimated to grow at a CAGR of around 19% by 2019.
The new industry analysis report from Technavio presents an insightful assay of the bio-herbicides market highlighting its growth potential through key drivers and trends.
Among the crop segments in the bio-herbicides market, permanent crops have emerged as the most rapidly growing category covering almost 54% of the market share. It is closely followed by arable crops and others sections. The permanent crops segment is expected to reach over $1,400 million by 2019 with an aggregate growth rate of around 24% between 2015 and 2019. High quality of the yield and immense operational expenditure involved in rearing these crops necessitate the use of bioherbicides. Plus, bioherbicides have gained high utility in crops such as grape vines, coffee, almond, walnut, and cashew due to health-conscious consumers.
Global Bioherbicides Market for Permanent Crops 2014 and 2019 ($ millions)
Source: Technavio Research
Of late, the use of organic farming and precision farming techniques have gained momentum among bio-herbicide cultivators who are utilizing natural herbicides to enhance productivity. Mounting concerns regarding healthy food among consumers have boosted the production of organic products in recent times, leading to the growing prevalence of organic farming. Such kind of farming is mostly singled out because of its cost-effectiveness and systematic farming methods like crop rotation that ensure renewable products.
“Rise in precision farming has won favour among farmers of North America and Latin America, especially in the US, Canada, and Brazil on account of its site-specific crop management concept that helps enhance productivity from inputs through the analysis of relevant data. It helps in the judicious usage of bioherbicides while minimizing the reliance on chemical herbicides to ensure sustainable production of crops with minimum wastage and harm to the environment,” says Sriram Mohan, Lead Analyst, Chemicals and Materials, Technavio Research.
AMVAC Chemical, AVD, Hindustan Bio-tech, Isagro, and Jiangsu Dongbao Agrochemical, Marrone Bio Innovations, and Valent Biosciences are the key vendors in the market. Decreasing amount of available arable land and the growing world population are some of the key factors fueling the demand for bioherbicides, thus prompting vendors to invest heavily on R&D during the forecast period.
https://www.technavio.com/%3Cp%3EA%20more%20detailed%20analysis%20is%20av…
