Bioremediation Market is forecasted to reach USD 334.70 Billion by 2027

The Global Bioremediation Market was valued at USD 105.68 Billion in 2019 and is forecasted to reach USD 334.70 Billion by 2027 at a CAGR of 15.5%. Over the recent past, the level of awareness regarding bioremediation has emerged in the light of various environmental contemplations in order to break down waste or organize an eco-friendly method. The natural methods for treating waste-water are increasingly being adopted because the synthetic strategy of treating waste-water has proved to be inefficient over the years. It is primarily because of the interest in bioremediation invention and its administrations among various nations and their governments. The process of bioremediation comprises of the utilization and implementation of biomaterial in order to defuse or normally dispose running waste. The process mainly includes separation of harmful materials into comparatively less poisonous ones. The accelerating urbanization mainly across developing economies is the key driving factor for technology and the market growth.

RD activities across various parts of the value chain are likely to result in dramatic progress in the growth of the market. Currently, bioremediation technologies belonging to the biological counterpart, including bio stimulation and bio augmentation are being used more as compared to the superior eco-friendliness which are more efficient in terms of results, because of their ease of usage and affordability factors. The various regulatory bodies by governments across the world are trying to focus on environment protection, because of which the bioremediation technology and services market is anticipated to notice significant growth during the forecast period. Owing to the afore mentioned factors, along with growing and consistent RD activities, the market is expected to attain a new height by 2030.

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The Phytoremediation segment, had a market valuation of USD 1.07 billion in 2019

The phytoremediation segment held the majority of the market share in 2019 because of the fact that due to rising urbanization, the soil across various part of the developed economies are becoming toxic. Plants are being used on a massive scale in order to kick start the process, which is thereby driving the growth of the segment.

However, the fungal remediation segment is also gaining traction and is likely to grow at a CAGR of 15.2% throughout the forecasted period due to increase in pollution of soil and water, rise in the number of radioactive contaminated areas, as well as various cost-effective procedures. Moreover, the land-based treatments segment held a significant share of 12% in 2019, which can be attributed to the rise in the level of awareness surrounding land-based procedures for contamination and affordability of the method.

The Soil Remediation segment is forecasted to grow at a CAGR of 15.8% throughout the forecasted period

The soil remediation segmented dominated the global market of bioremediation in 2019 and is likely to do so over the coming years. However, wastewater remediation emerged as a potential area with a market share of 20.2% in 2019. It is likely to be a lucrative segment throughout the forecasted period because all the major economies in the world are increasingly focusing on treatment of toxic water in major as well as minor water bodies. Moreover, the decrease in the disposal costs coupled with development of latest wastewater treatment technologies to enhance resource consumption are the primary driving factors for the market growth of wastewater remediation segment.

However, oilfield remediation is one of the major environmental services which is likely to be perceived as a long-term strategic solution and is forecasted to grow at a CAGR of 15.5% in order to consider environmental pollution control by removing the contamination from soil and groundwater.

North America held the largest market share of around 41.8% in the Bioremediation market in 2019

In terms of revenue, North America held the most prominent market share in 2019 which can be attributed to the presence of some of the major manufacturing industries. Additionally, over the recent past, there has been a significant rise in the number of companies which are offering bioremediation services. Moreover, increase in the frequency of government funding for RD activities across various segments of the bioremediation field is likely to boost the growth of the market in this region.

Asia Pacific is also expected to hold a considerable market share by 2027 as it is anticipated to grow at the fastest CAGR of 16.5% throughout the forecasted period. This can owed to the rising population, industrialization, increased consumption of oil and gas across various industries, and various government regulations targeted towards environmental protection are the primary factors that are fuelling the growth of the market in the Asia Pacific region.

The market for Bioremediation is highly fragmented with a large number of small as well as medium-sized manufacturers, which account for a major global share of the market. The manufacturers involved in the Bioremediation market are desegregated across the value chain. Some of the prominent players in the Bioremediation market include:

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Xylem, Inc.

Aquatech International LLC

Drylet LLC

Altogen Labs

InSitu Remediation Services Limited

Probiosphere

Ivey International, Inc.

Sumas Remediation Services, Inc.

Sarva Bio Remed, LLC

In October 2019, Bio Huma Netics, Inc., based out of Arizona, received the Biostimulant Industry Impact Award for the development and successful implementation of Micro Carbon Technology® (MCT), a combination of immensely small organic carbon- and oxygen-rich molecules. To provide a efficiency, the molecules act as a source of carbon and helps other molecules in the plants to absorb nutrients through the soil as well as leaves, thereby making microorganisms necessary for fertile soils and water bioremediation.

This report forecasts revenue growth at a global, regional and country level and provides an analysis of the market trends in each of the sub-segments from 2018 to 2027. The scope of the report can be defined as:

Emergen Research has segmented the global Bioremediation Market on the basis of services, technology and region:

Technology Outlook (Revenue, USD Billion; 2017-2027)

Phytoremediation

Biostimulation

Bioaugmentation

Bioreactors

Fungal Remediation

Land-based Treatments

Services Outlook (Revenue, USD Billion; 2017-2027)

Soil Remediation

Wastewater Remediation

Oilfield Remediation