Global Bioinsecticides Market is driven by increasing demand for higher-yielding crops in the forecast period, 2023-2027. According to TechSci Research report, “Bioinsecticides Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”. The global bioinsecticides market may show robust growth in the forecast years, 2023-2027 with an anticipated CAGR value. The market growth can be attributed to the factors like increasing demands for food security.
The Important Elements of Bioinsecticides Market
The growing global population and their demands for food along with growing concerns about increasing hunger are driving the growth of the global bioinsecticides market in the upcoming five years. The surge in the demand for higher-yielding crops and thus performed various development in the crops and agricultural practices that involved advancement of the bioinsecticides are supporting the growth of the global bioinsecticides market in the next five years. Bioinsecticides are organic formulations that do not use harmful chemicals to irradicate crops from insects. Bioinsecticides rather contain live bacteria that release toxins that can kill and digest the insects thus saving the crops.
Moreover, increased demand for organic food, awareness regarding pesticide residue level, and active adoption of integrated pest management practices is further anticipated to substantiate the growth of the global bioinsecticides market in the future five years. Along with the nutrient run-off pesticides and insecticides that are often applied over the crops get washed away after rain or crop watering processes. This insecticide and pesticide wash off to reach neighboring water bodies and ultimately to the seas. This rises concerns about bioaccumulation, which is an accumulation of chemical toxins in the fishes and their growing concentration as it moves up the food chain. Concerns regarding saving marine life, providing hygienic and toxin-less seafood, and growing demand for environment-friendly insecticides have further aided the growth of the global bioinsecticides market in the forecast years, until 2027.
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The global bioinsecticides market segmentation is based on the mode of application, organism type, crop type, type, formulations, regional distribution, and competitive landscape. Based on the mode of application, the market is divided among seed treatment, soil treatment, foliar spray, and others. Foliar spray is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of its easier and more feasible applications. Applying insecticides through foliar spray is also cost-effective and is a better option for larger farms, thus driving the growth of the global bioinsecticides market in the next five years.
Based on crop type, the market is further bifurcated into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Fruits & vegetables are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to higher risks of fruits & vegetable plants being destroyed by insects. Due to the higher nutrient content and favorable flavors of fruits and vegetables, the insects attack such plants more thus demanding higher use of bioinsecticides and aiding the growth of the global bioinsecticides market in the future five years. Cereals & grains are also anticipated to register significant growth in the next five years on the grounds of an increase in the production of cereals and grains. The increasing global population further substantiates the growth of the segment along with the market.
Some of the market players, dominating the global market are :
- Bayer CropScience AG
- Syngenta AG
- BASF SE
- Novozymes A/S
- Nufarm Limited
- Biobest Group NV
- Valent BioSciences LLC
- Kilpest India Limited
- Bioworks Inc.
- Certis U.S.A. LLC
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“Asia Pacific region is anticipated to hold the largest revenue shares of the market due to the growing agricultural sector in the region. The countries like India and China are actively invested and have expanded their agriculture industry multiple folds in recent years. Increasing investment, growing concerns to increase the yields of food crops, rapidly growing population of the countries are major factors behind the growth of the global bioinsecticides market in the next five years. Also, rising concerns regarding the excessive use of chemically infused insecticides have inclined the demand toward more organic and herbal insecticide products. Thus, the demand for bioinsecticides that can easily remove insects from the food crop along with being non-toxic to the environment is further driving the growth of the global bioinsecticides market in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Bioinsecticides Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray, Others), By Organism Type (Bacillus thuringiensis, Beauveria bassiana, Metarhizium anisopliae, Baculovirus, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Type (Microbials v/s Macrobials), By Formulation (Liquid v/s Dry), By Region”, has evaluated the future growth potential of global bioinsecticides 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 the global bioinsecticides market.
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