According to a report published by BCC Research, the global bioremediation market should grow from $91.0 billion in 2018 to$186.3 billion by 2023, increasing at a compound annual growth rate (CAGR) of15.4% from 2018 through 2023. One of the findings of the report is that the application of bioremediation technology in the water bodies sector held the largest market share in 2017, and it is expected to remain the market leader throughout the forecast period.

The report predicts an ever-increasing use of bioremediation techniques for treating sewage, lakes, rivers and streams, ponds and aquaculture is anticipated to create huge growth opportunities for the market in the coming years. In recent years, however, the rise in the agriculture industries has augmented the growth of hazardous pollutants in the environment, and thus the application of bioremediation methods in the agricultural sector is expected to be the fastest-growing segment.

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