Bioinsecticides Market: Increasing Insect Attacks Due To Climate Change Is Driving The Demand For Bioinsecticides
Global Bioinsecticides Market: Key Highlights
- According to the new market research report “Bioinsecticides Market by Class (Biochemical Pesticides, Microbial Pesticides, Plant Incorporated Protectants (PIPs)), by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), by Form (Liquid Form, Dry Form), by Application (Soil Treatment, Seed, Treatment, Foliar Spray, Post-Harvest), by Region (North America, Asia Pacific, Europe, Middle East & Africa, and South America,) — Global Forecast (2020 to 2027)”, the global bioinsecticides market is estimated to reach USD 7.6 Billion by 2027 at a CAGR of around 15.4% during the review period.
- The increasing demand for bioinsecticides is due to change in moisture content and CO2 concentration in the air and changes in rainfall pattern
- Government initiatives promoting the use bio-based products is further driving the demand for bioinsecticides
- However, low efficiency compared to the conventional chemicals is the major factor that is expected hinder the market growth during the forecast period
Global Bioinsecticides Market: Key Market Dynamics
- Varying atmospheric temperatures and change in moisture content increases the multiplication rate of pathogens resulting in number of diseases which expected to boost the demand for bioinsecticides
- Various government awareness programs to use bio-based products, and inclination towards the use of bio-based efficient and fewer pollution pesticides
- However, bioinsecticides are less efficient compared to conventional chemicals resulting in farmers to prefer conventional chemicals for crop production. Thus, the less efficiency of bioinsecticides is the factor that hinders the market growth up to a certain extent.
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Global Bioinsecticides Market: Regional Overview
- North America
North America region comprises US, Canada, and Mexico. The region is the major producer of the fruits & vegetables. Moreover, the demand for bioinsecticides in the North America is increasing due to the increasing inclination towards the green agricultural practices and loss of conventional products to reregistration and some performance issues. Moreover, increasing demand for bioinsecticides due to growing consumer awareness towards organic product is expected to fuel the market growth.
- Asia Pacific
Asia Pacific region is expected to grow at a higher growth rate during the forecasted period. The highest growth of this region can be attributed to the increasing consumption of natural and organic food from the world’s most populated countries includes India and China. Moreover, increasing investment in R&D is also a major factor that will help to boost the market growth in the Asia Pacific region. For Instance, China has registered more than 90 biopesticides active ingredients.
Global Bioinsecticides Market: Key Players Overview
- Marrone Bio Innovations:
Marrone Bio Innovations is a privately-held US-based company specializes in the innovation and manufacturing of smart biopesticide solutions. In January 2020, Marrone Bio Innovations’ product “Stargus” got approval from the California Department of Pesticide Regulation (CDPR) and allows to use immediately in the farms.
Syngenta is one of the leading agricultural company based in Switzerland. The company has a presence in 90 countries around the globe with 28,000 employees. In March 2018, Syngenta acquired Strider, a Brazil-based agro technological company. This acquisition will help to Syngenta to expand its future business in the South America region.
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