Europe Bioherbicides Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Microbial, Biochemicals, and Others), Mode of Application (Seed Treatment, Soil Application, Foliar, and Others), and Application (Cereals and Grains, Oil Seeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, and Others)
The bioherbicides market in Europe is expected to grow from US$ 452.41 million in 2021 to US$ 976.88 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028.
Efforts have been made to develop more cost-effective and efficient bioherbicides for controlling weeds. Herbicide resistance is a major concern among farmers as many weeds are showing some herbicide resistance. This costs growers billions of dollars in crop damage annually. Hence, market players are increasingly focusing on developing new alternatives. According to the news released in 2020, Seipasa company specializes in developing and formulating biopesticides, biostimulants, and fertilizers for agriculture. Further, the Technical University of Valencia (UPV) is working on developing a new bioherbicide through the Mediterranean Agroforestry Institute (IAM). The main goal of this project is to create an effective, sustainable alternative to synthetic herbicides, and its use will help reduce the environmental impact of chemical herbicides. Seipasa and the IAM are currently carrying out efficacy trials in controlled conditions to analyze the performance of the new product on different types of weeds. Moreover, the developments in genetic engineering are leading to the production of highly effective bioherbicides. Market players are also focusing on bioherbicide product innovations through genetic engineering. Hence, the growing bioherbicide product innovations will offer lucrative opportunities for market growth during the forecast period.
Europe Bioherbicides Market Revenue and Forecast to 2028 (US$ Million)
Europe Bioherbicides Market Segmentation
The Europe bioherbicides market is segmented into source, mode of application, application, and country. Based on source, the Europe bioherbicides market is segmented into microbial, biochemical, and others. In 2020, the microbial segment held the largest share Europe bioherbicides market. Based on mode of application, the Europe bioherbicides market is segmented into seed treatment, soil application, foliar, and others. In 2020, the seed treatment segment held the largest share Europe bioherbicides market. Based on application, the Europe bioherbicides market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others. In 2020, the fruits and vegetables segment held the largest share Europe bioherbicides market. Similarly, based on country, the market is segmented into the Germany, France , Italy, UK, Russia, and the rest of Europe . The rest of Europe contributed a substantial share in 2020. BASF SE, Marrone Bio Innovations, Seipasa, and Valent Biosciences LLC are among the leading companies in the Europe bioherbicides market.
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