Industry Insights
The Global Bio-Herbicides Market was valued at USD 1.12 billion in 2015. Rising consumer awareness combined with strict government regulatory policies towards food & environment to develop organic farming in North America, Asia Pacific, and Europe is anticipated to drive the global bio-herbicides market over the forecast period. Herbicides based chemical are known to pollute water and soil. These chemicals enter the human body through food consumption and have several adverse impacts on human health. Bio herbicides are derived from microbes including bacteria, protozoa, and fungi. Herbicides are easy to handle compounds and do not pose any threat to farmers. Furthermore, crops being harvested using bio-herbicides are considered safe for consumption as well as for human health.
Hence, such health environmental benefits connected with an organic product when compared to its synthetic counterparts are anticipated to impact the bio-herbicides market positively over the next few years. Government tie-ups with local manufacturers have been aiming at enlightening farmers for growing the bio-herbicides consumption. The inclination of consumers towards nutritional and healthier food products is also projected to impact the overall product demand positively. Synthetic herbicides low prices are anticipated to be a significant restraint for its penetration in the international market. Moreover, herbicides based on chemical are known to show superior results owing to which farmers utilize them more than bio-herbicides.
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Lack of knowledge, as well as awareness among the farmers, is expected to act as a restraint for the development of the industry shortly. The combination of bio-herbicides mixed with chemical based herbicides increases the impact of the bio based product on weed and also helps in improving the process efficiency. Such wits are likely to drive the industry growth prospect over the forecast period. The resistive nature observed by weeds over the period is expected to occur as the key challenge for the manufacturers. Mares tail weed has developed resistance to some of the compounds. Industry focuses on developing new materials for weed eradication due to the resistive nature of these unwanted plants.
Application Insights
Bio herbicides are used for a variety of vegetables and fruits cultivation which makes them the top application segment. Rising organic farming combined with the high demand for quality fruits and vegetables is anticipated to be the leading factor driving the product growth. Other application segment includes turf & ornamental grass; it’s been projected to experience the maximum growth rate shortly. Ornamental & Turf segment is estimated to grow at an estimated CAGR of 16% over the forecast period. Various application of bio-herbicides such as its use in maintaining the gardens, clearing unwanted weeds around the railway tracks is anticipated to drive the segment growth overall substantially.
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Regional Insights
North America was the largest bio-herbicides market and accounted for around 30% of the global revenue in 2015. Positive attitude towards organic farming and safety concerns towards the environment are the key factors driving the regional growth. Initiatives taken by the local governing bodies to educate the consumers towards health and environmental impact are expected to play a vital role especially in countries like Canada and U.S.
Europe is the largest emerging market as of regional demand. Countries like Germany, UK, Spain, Italy, and France are using bio-herbicides for high-quality fruits cultivation. Asia Pacific is expected to experience the strongest growth over the forecast period. Rising awareness towards the adverse environmental impact among the farmers is anticipated to propel the regional growth in the countries including China, Indonesia, and India. Development of rural market is expected to drive the bio-herbicides demand in SAARC nations.
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Competitive Insights
Industries key players include Hindustan Biotech, Fits Chem Corporation, Bioherbicides Australia (BHA), Marrone Bio Inventions, Mycologic Inc., Engage Agro USA and Emery Oleochemicals. A capsule-based organic product named Di-Bak is developed by Bioherbicides Australia which is very widespread to cure the woody weeds. Their products are designed to precisely suit the geographical terrain like wetlands, grasslands, and coastal areas. Research and development activities to find potential micro-organisms are anticipated to rise by local manufacturers to develop competition level in the global environment.