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“The bioinsecticides market is projected to grow at a CAGR of 15.8% during the forecast period.”
The global bioinsecticides market size is projected to grow at a CAGR of 15.8% from an estimated value of USD 2.2billion in 2020 to reach USD 4.6billion by 2025.The bioinsecticides industry has been gaining wide importance among farmers to produce residue-free food products with the adoption of microorganisms based bioinsecticides. Biological solutions have proved to be an effective alternative to conventional chemicals and even work best when applied as a combination.
The increasing infestation of crops produced on a large-scale has compelled the usage of sustainable solutions such as bioinsecticides as they help in controlling pesticide-resistant insects. The growth inorganic farming and an increase in the acceptance of organic crops have led to the implementation of Integrated Pest Management (IPM) solutions. Poor knowledge of the application of biologicals, storage issues, and other technological constraints are expected to restrain the growth of the market.
“The baculovirus market to grow at the highest rate during the forecast period.”
Baculovirus is projected to be the fastest-growing market among other organisms. Increased insect pest attack has been affecting the of the greenhouse cash crops, which accounts for a huge loss for farmers. Invasive pests such as Tuta absoluta have resulted in great loss in many European regions, which has been efficiently controlled using baculovirus.
Even the US is a huge market for virus-based bioinsecticides. Its gaining wider popularity in comparison with Bacillus species and product availability are also driving the growth of the market. Insect pest attack is a severe problem observed in many regions of the world affecting crop production, and hence, it will gain a significant share of demand among the companies to produce various strains of baculovirus.
“The liquid formulation bioinsecticides market to be the largest and faster-growing among formulations segment for the forecast period.”
Liquid formulations are estimated to account for the larger market share in the forecast period. The ease of application and transportation are the key drivers for the growth of the liquid formulations segment. Farmers have been using it from many years, as it is easy and safe to handle in comparison with dry formulation. With the increase in organic farming and increased acreages under precision irrigation technologies, the liquid formulations market is estimated to continue growing in the future as well.
“South America is estimated to be the fastest-growing bioinsecticides market during the forecast period.”
South America includes various countries whose economy relies mainly on agriculture. The countries are adopting sustainable solutions to cultivate residue-free crops to be able to export crops such as soybean and corn to Europe. It cultivates various high-value crops, both for domestic and export purposes, which drives the demand for bioinsecticides. The increase in the infestation of pests due to pest resistance in high-value crops is also driving the growth of the market. With the awareness of organic farming and harmful effects of chemical-based farming, consumers have tend to accept the organic crops. The government also has introduced strict regulations on the use of chemical pesticides that not only kill the beneficial insects but increase intoxicity across the food chain. Therefore, the ban on pesticides has been proposed by the government to reduce the impact of chemical pesticides on bees. The demand to increase the export quality of crops has led to an increase in the market for bioinsecticides.
The bioinsecticides market is segmented market-wise, with a detailed analysis of each market by studying the individual competitive landscapes.
Breakdown of the profile of primary participants is as follows:
- By Company Type: Tier 1 -10%, Tier 11-30%, and Tier 31-60%
- By Designation: C-level -40%, D-level -30%, and Others*-30%
- By Region: Asia Pacific -35%, Europe -30%, North America -20%, and RoW-15%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report
- BASF SE (Germany)
- Syngenta AG (Switzerland)
- BayerAG (Germany)
- Marrone Bio Innovation (US)
- Novozymes A/S (Denmark)
- Nufarm (Australia)
- Som Phytopharma India Ltd (India)
- Camson Biotechnologies Ltd (India)
- BioWorks Inc. (US)
- Valent Biosciences (US)
- Andermatt Biocontrol AG (Switzerland)
- Valent Biosciences LLC (US)
- International Panaacea Ltd (India)
- Futureco Bioscience S.A.
- BioSafe Systems, LLC. (US)
- Vestaron Corporation (US)
- Kan Biosys (India)
- SDS Biotech K.K(Japan)
- KilPest India Ltd (India
- Certis US LLC (US)
- Biobest Group NV (Belgium)
This report segments the bioinsecticides market based on key trends. In terms of insights, this research report focuses on various levels of analyses?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the bioinsecticides industry, the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
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