Biorational Pesticides Market to Grow with a CAGR of 4.78% Globally through 2028
Increasing investment in agricultural activities and consumer preference
is expected to drive the Global Biorational Pesticides Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Biorational
Pesticides Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Biorational Pesticides
Market stood at USD6.85 billion in 2022 and is anticipated to grow with a CAGR
of 4.78% in the forecast period, 2023-2028. The initiatives taken by government
based on biorational pesticides has led to favorable market conditions for the Global
Biorational Pesticides Market. Several factors contribute to the growth of
various biorational pesticides market products.
Government
regulatory bodies, such as the U.S. Environmental Protection Agency (EPA), play
a crucial role in encouraging the development and use of low-risk biological
pesticides. The EPA's Biopesticide Oversight and Registration program provides
a comprehensive framework for the approval and use of biopesticides, ensuring
they meet rigorous safety and effectiveness standards. This program involves
thorough testing and evaluation of the potential risks and benefits of these
pesticides, as well as ongoing monitoring to ensure their continued safety.
In addition to
the Biopesticide Oversight and Registration program, the EPA also runs the
Conventional Reduced Risk Pesticide Program. This program aims to expedite the
registration process for commercially viable alternatives to riskier
conventional pesticides. By facilitating the availability of these
alternatives, the EPA promotes the use of safer and more sustainable pest
control methods, ultimately benefiting both human health and the environment.
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The market for
biorational pesticides is driven by consumer awareness of environmental issues
and concerns about the toxicity of chemical pesticides that disrupt the food
chain and contaminate the soil. Additionally, the industry is influenced by
customer preferences for organic food, advancements in technology and
agriculture, significant crop losses due to pest infestations, and the demand
for high-quality food.
Moreover,
increased investments in agricultural activities and a substantial market in
developing nations offer lucrative opportunities for participants in the
biorational pesticides market. The growing demand for pesticides and the
ecological characteristics of the agricultural sector are key drivers of global
market growth. Furthermore, a supportive regulatory environment for biorational
pesticides contributes to business expansion. Increased investment in
agricultural activities and the rising demand for organic food are also
expected to create attractive market prospects for major producers of
biorational pesticides.
The Global
Biorational Pesticides Market is segmented into source, crop type, regional
distribution, and company.
Based on its crop type, the cereals & grains segment
held the largest share in the market. In the study of cereals and grains,
wheat, rice, and maize play a vital role. These staple crops are essential
components of daily dietary routines in most regions. Similarly, the category
of oilseeds and pulses includes cotton seeds, soybeans, and sunflower, which
are widely cultivated and utilized. As the global population continues to rise,
the demand for cereals and grains is expected to increase, driven by their
nutritional value and versatility. Additionally, fruits and vegetables will
contribute significantly to the market expansion, as they provide essential
vitamins and minerals for a well-balanced diet. The diverse range of cereals,
grains, oilseeds, pulses, fruits, and vegetables ensures a sustainable and
nutritious food supply for the growing population.
Based on region, North America segment is expected to
grow during the forecast period.
Growing environmental concerns, including issues like
pollution and climate change, have led to increased awareness of the advantages
of biorational pesticides. As people become more conscious of the potential
harm caused by traditional chemical pesticides, there is a rising demand for
sustainable and eco-friendly alternatives. Additionally, the demand for fruits
and vegetables continues to grow in the area, driven by factors such as a focus
on healthy eating and a desire for locally sourced produce. These factors
combined contribute to the increasing demand for biorational pesticides as a
means to protect crops and the environment.
Major companies operating in Global Biorational
Pesticides Market are:
- BASF SE
- Bayer AG
- DuPont de Nemours Inc
- Isagro S.p.A.
- Koppert BV
- Marrone Bio Innovations, Inc.
- Monsanto Co
- Russell Investment Management
LLC
- Syngenta AG
- Valent BioSciences LLC
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“Growing application of Biorational Pesticides in
various end user industries are key drivers of the Biorational Pesticides
market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of Biorational Pesticides
with every passing year are anticipated to register an impressive growth to Global
Biorational Pesticides Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global Biorational Pesticides Market By Source
(Botanical, Microbial, Non-Organic), By Crop Type (Fruits & Vegetables,
Cereals & Grains, Oilseeds & Pulses, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Biorational Pesticides Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Biorational Pesticides Market.
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