Morocco Biostimulant and Biopesticide Market Worth $8.8 Million by 2021

Thursday 17 November 2016, Amsterdam

The Report, now available on ASDReports, “Morocco Biostimulant and Biopesticide Market Biostimulants by Active Ingredient (Acid-based, Extract-based, Others), and Biopesticides by Type (Bioinsecticides, Biofungicides, Bioherbicides, and Bionematicides) - Forecast to 2021” is estimated to grow at a CAGR of 10.7% and  from 2016 to 2021.

Increasing focus on Integrated Pest Management (IPM) by the government of Morocco and rising preference for the usage of biofertilizers in organic farming is expected to boost the growth of biostimulants and biopesticides in the country. Along with this, increasing agricultural exports and rising government regulations on chemical pesticides and fertilizers due to environmental hazards is shifting the consumer preference towards agricultural biologicals such as biopesticides and biostimulants, thus increasing the market for both in Morocco. Investments in Morocco is perceived to be a good option due to its strategic location for trade with Europe, Asia, as well as America. Hence, agricultural biologicals such as biopesticides and biostimulants will be viewed as a business opportunity in this country in the next five years. As a result, many multinational players have entered the Moroccan biostimulants and biopesticides markets by producing different type of biopesticides and biostimulants demanded in Morocco.

Significant growth expected in the biostimulant extract-based active ingredient segment

The Moroccan biostimulants market is studied for active ingredients of biostimulants such as acid-based, extract-based and others which include B-vitamins, chitin, and chitosan. The market for extract-based active ingredients is projected to be the fastest-growing market due to its high usage and growing awareness of seaweeds usage as biostimulants. Morocco has a vast Atlantic coast where there is a large production of seaweeds in cities such as El Jadida. With an annual harvest of 14,000 tons of seaweeds, Morocco is expected to be a high potential market for extract-based biostimulants in the next five years.

Bioinsecticides is expected to be the fastest-growing biopesticide type during the forecast period

The major types of biopesticides considered in the study are bioinsecticides, biofungicides, bioherbicides, bionematicides, and others which include sulfur, oil, insect repellent, moth control, and other biochemicals. The market for bioinsecticides is projected to be the fastest-growing market due to high utility of bioinsecticides in IPM and increasing usage of bioinsecticides on insects such as codling moth, fruit tortrix, Olivier ringworm, and tomato fruitworm destroying orchard or field crops, especially vegetable crops.

Increasing organic farming and promotion of Integrated Pest Management (IPM) —key to success in the biostimulants and biopesticides market in Morocco

The increased use of biostimulants and biopesticides in the Morocco is mainly associated with the growth of organic farming in the country and rising government initiatives towards IPM. Organic farming makes use of non-chemical or natural fertilizers for quality and yield enhancement of crops. Cultivators focus on environment-friendly methods and plant growth regulators to cultivate crops, thus increasing the demand and usage of biostimulants. Similarly, the reducing exports due to excess pesticide residue problems and low-quality products have hampered the economic gain of agricultural products in the country. Hence, the Ministry of Agriculture is taking various initiatives such as IPM to reduce the ill effects of overuse of toxic pesticides by promoting biopesticides.

This report also includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as BASF SE (Germany), Novozymes A/S (Denmark), Isagro S.p.A. (Italy), Sapec Group (Trade corporation international) (Belgium), and Platform Specialty Products Corporation (U.S.).