(I-BusinessNews.Com, October 08, 2020 ) The global bioinsecticides market size is projected to grow at a CAGR of 15.8% from an estimated value of USD 2.2 billion in 2020 to reach USD 4.6 billion by 2025. Factors such as the increasing awareness of consumers about pesticide residues in crops, growing acceptance of organic food, increase in integrated pest management practices, and the ban of pesticides which are detrimental to the public health and environment has led to a huge demand for bioinsecticides, creating sustainable solutions.
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The bioinsecticides market is consolidated, with a few players occupying a major share. The wide variety of products offered by these companies for various market trends covered, their strong brand value, their vast geographical presence in terms of manufacturing, R&D units, and distribution partners are the major reasons for this organized market.
The key players in bioinsecticides market include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA LLC (US), Novozymes A/S (Denmark), Marrone Bio Innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India) Valent Biosciences LLC (US), BioWorks Inc. (US), Camson Biotechnologies Ltd (India), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Kan Biosys (India), Futureco Bioscience S.A. (Spain), KilPest India Ltd (India), BioSafe Systems, LLC. (US), Vestaron Corporation (US), and SDS Biotech K.K (Japan), which contribute significantly.
Novozymes A/S is one of the leading global biotechnology companies in the market, producing and marketing enzymes, microorganisms, and biopharmaceutical ingredients. The company offers an array of products in biological solutions to control pests and diseases through its biocontrol solutions segment. The company delivers biocontrol solutions that are effective in comparison to conventional fertilizers and pest control. It has operations held in various parts of the world with over 700 products in the market. Novozymes A/S strategically expanded its business in Kenya in June 2019 with an objective to produce sustainable biological solutions. It has subsidiaries in different regions of the world such as Novozymes Japan Ltd (Japan), Novozymes Biologicals Inc. (US), Novozymes Biologicals Limited (Canada), and Novozymes Australia Pty Ltd (Australia), which focus on the enhancement of biological solutions.
Bayer AG (Germany) is one of the key companies in life sciences. It operates through four segments; pharmaceuticals, consumer health, animal health, and crop science. The crop science segment focuses on seed and crop protection products and digital solutions. The crop protection division offers many biological solutions such as biofungicides, bioinsecticides, inoculants, bionematicides, and biostimulants. The company has a strong market position because of its strong brand, geographical presence, product portfolio, and strong consumer base. The acquisition of Monsanto (US) has been a milestone development, which helps in the expansion of the biological solutions portfolio. In August 2019, Certis USA (US) made a distribution agreement with Bayer AG (Germany), to distribute Requiem Prime (bioinsecticide) to the farmers in US market. The growth of the company has been significant in the biologicals market and strategizes to grow through both organic and inorganic strategies.
The North American region accounted for the majority of the global bioinsecticides market share in 2019. The US is one of the leading countries for the export of various fruits and vegetables. Consumers are shifting their eating habits to residue-free crop produce. An increase in the awareness of pesticide residue levels in crops is driving the adoption of bioinsecticides. Also, the huge presence of companies in the US has led to investments and research on biological crop protection products.
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