Biorational Pesticides Market- Emerging Trends & Industry Forecast to 2022
by Mit K. SEOThe biorational
pesticides market is estimated at USD 2.78 Billion in 2017 projected to
reach a value of USD 5.02 Billion by 2022, at a CAGR of 12.5% from 2017. The
market is driven by factors such as evolving farming technologies &
practices, consumer demand for organic fruits & vegetables, and increasing
promotion by government organizations for the adoption of environment-friendly
pesticides. As demand for organic fruits, vegetables, and crops is increasing
globally, the market for biorational pesticides is expected to grow.
The key players profiled in the report have a
strong presence in the global biorational pesticides market; these include
Valent Biosciences (US), Bayer (Germany), Monsanto BioAg (Germany), BASF
(Germany), DowDuPont (US), and Syngenta (Switzerland).
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These players adopted growth strategies such
as expansions & investments and mergers & acquisitions to cater to the
increasing demand for biorational pesticides. They are increasing their
research & development expenditure to expand their biorational pesticide
products portfolio.
Scope of the Biorational Pesticides Market Report:
On the basis of Type, the market has been segmented
into:
- Insecticides
- Fungicides
- Nematicides
On the basis of Source, the market has been
segmented into:
- Botanical
- Microbial
- Non-organic
On the basis of Mode of Application, the market has
been segmented into:
- Foliar spray
- Soil treatment
- Trunk injection
On the basis of Crop Type, the market has been
segmented into:
- Fruits & vegetables
- Cereals & grains
- Oilseeds & pulses
On the basis of Formulation, the market has been
segmented into:
- Liquid
- Dry
On the basis of Region, the market has been
segmented into:
- North America
- Europe
- Asia Pacific
- RoW (South America and the Middle East &
Africa)
The rise in concerns about food
safety has led to farmers exploring new environment-friendly methods to replace
or supplement the current chemical-based practices. The use of biorational pesticides
has emerged as a promising alternative to chemical pesticides. Promotions by
government organizations for the adoption of biorational pesticides and their
low cost compared to that of chemical pesticides are some prominent factors
that are expected to drive market growth through the next five years in most
regions.
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On the basis of type, the
biorational pesticides market was led by biorational insecticides segment. It
is one of the most largely commercially available types of biorational
pesticides. North American countries are expected to become major markets owing
to the high awareness among farmers and this contributes to the growth of the
global market in the near future.
The North American market for
biorational pesticides is driven by the simple registration process of
biorational products, increasing consumer preference for organic products, and
growing consumer awareness about the ill-effects of synthetic pesticides on
human health. The rigorous regulatory system in the US and Canada regarding the
environment and human health has compelled manufacturers to develop biorational
pesticides with low risks to consumers. The market in Europe is expected to
grow at a moderate rate in the near future owing to the stringent regulations
for pesticides and increasing demand for organic products. Developing countries
such as China, India, Brazil, and Argentina are showing a significant increase
in the demand for biorational pesticides.
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Created on Feb 15th 2021 07:09. Viewed 274 times.