Biorational Pesticides Market by revenue is expected to grow at a CAGR of around 4.49% during the period 2022–2030
Biorational Pesticides Market Overview:
Research analyses that the market is growing with the CAGR of 4.49% in the forecast period of 2022 to 2030 and is expected to reach USD 555.97 billion by 2030.
Biorational pesticides are materials which causes minimal to zero harm to humans, animals, and the surrounding environment. These pesticides can contain organisms or formulations derived from biological entities. The global biorational pesticides market report by Market Research Future (MRFR) contains insights on growth enablers, opportunities, restraints, and challenges to be faced by the industry for the period of 2022 to 2030 (forecast period). The outbreak of the COVID-19 virus and its impact on the production and supply process has also been explained in detail.
Biorational Pesticides Market Scope:
The global Biorational Pesticides Market is expected to experience a momentous growth rate during the forecast period owing to aversion to chemically derived pesticides. Awareness of environmental sustainability and inclination towards consumption of organic foods are likely to induce the demand in the market. The approach of integrated pest management (IPM) is expected to bode well for the market. In addition, government support for these programs, campaigns for sustainable crop production, and subsidies given to farmers can facilitate market growth. This is exemplified by the USDA National Organic Program which defines the use of organic pesticides to be used for cultivation of organic crops.
Clean labeling of organic biorational pesticides is anticipated to assist in sales within the industry. The move by pesticide formulators to specify ingredients on their products and attaining certificates of organic for commoditization will benefit the market in the coming years.
The low shelf-life of these products can pose a challenge to the market growth.
Biorational Pesticides Market Segmentation:
The global biorational pesticides market has been segmented by source, mode of application, type, and crop type.
By source, the global biorational pesticides market is segmented into minerals, botanical, microbials, and others. Botanicals are plant-derived materials used for repelling pests. Prominent among them are neem oil, garlic, pyrethrin, and capsaicin. They are approved for use on organic certified crops. This segment had dominated the market in 2018. Microbials are microorganisms programmed to eliminate selective pests with minimal effect on non-targets.
Based on mode of application, the global biorational pesticides market is segmented into trunk injection, foliar spray, soil treatment, and others.
By type, it is segmented into biorational nematicides, biorational insecticides, biorational fungicides, and others. Biorational insecticides are expected to dominate the global biorational pesticides market due to being commercially available and awareness among farmers.
Based on crop type, the global biorational pesticides market is segmented into oilseeds & pulses, fruits & vegetables, cereals & grains, and others.
Competition Outlook:
Valent Biosciences, Syngenta AG, BASF SE, Isagro SAP, Monsanto Bioag, Bayer AG, DowDuPont, Russell IPM, Marrone Bio Innovations, and Koppert are key players of the global biorational pesticides market. Partnerships are expected to gain leverage in the industry in order for players to sustain their standing. For instance, Valent Biosciences has partnered with Vita Bee Health for developing biorational pesticides for selectively targeting wax moths in honeycombs.
Regional Analysis:
The global Biorational Pesticides market has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North is predicted to dominate the global market owing to vast lands available for agricultural purposes and being host to countries that are major exporters of condiments, fruits, and vegetables. Efforts are taken by agricultural agencies in countries to identify pest problems and formulating organic strategies to tackle them. Recently, the Canadian government took the initiative of identifying weevils harmful to the Capsicum and Solanum genus of plants.
APAC is expected to display the fastest growth rate in the market owing to agrarian economies of India and China. These economies are open to accepting biorational pesticides for controlling pest volume in crops. The large demand for foods and the huge populace are incentives ensured to drive the regional demand for these solutions.
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