(I-BusinessNews.Com, February 16, 2021 ) The report “Bioinsecticides Market by Organism Type (Bacteria Thuringiensis, Beauveria Bassiana, and Metarhizium Anisopliae), Type (Microbials and Macrobials), Mode of Application, Formulation, Crop Type, and Region – Global Trends & Forecast to 2025″ The global bioinsecticides market 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.
The bioinsecticides market is driven by factors such as an increase in acceptance of organically grown crops, growth in concerns regarding the hazards of using pesticides, demand for residue-free high-value crops, and gradual phase-out of key active ingredients and government policies that are favoring the implementation of bioinsecticides.
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By organism type, the baculovirus segment is projected to dominate the bioinsecticides market during the forecast period.
With the ban of key synthetic pesticides, there is a significant growth in the usage of bioinsecticides. Baculovirus is an effective biocontrol agent that does not harm the health of applicators, do not kill natural enemies of pests, do not contaminate the environment, or leave residues in the products; these are some of the driving factors for the growth of baculovirus as a bioinsecticide. The US has been one of the key markets for using virus-based bioinsecticides. Due to its effectiveness in killing invasive pests, it has boosted the growth of the baculovirus market.
By crop type, the fruits & vegetables segment is projected to be the fastest-growing segment in the bioinsecticides market during the forecast period.
Increasing demand for high-value crops grown under organic farming is driving market growth. With the change in dietary habits, farmers are compelled to cultivate crops organically using inputs that are devoid of harmful chemicals.
There is huge infestation witnessed in fruits and vegetables both in open fields and greenhouses. To meet the export demand for residue-free crops, farmers are implementing the use of bioinsecticide in combination with conventional chemicals. These are some of the key reasons that are driving the adoption of bioinsecticides in the fruits & vegetables segment.
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The markets in South America and Asia Pacific to witness tremendous growth during the forecast period.
The increase in agriculture cultivation has led to the use of quality inputs to obtain better crop performance. The need to maintain minimum residual levels in food products and high growth prospects for organic food has been driving the bioinsecticides market in these regions. Stringent regulations in these countries to limit excessive chemical application is also driving the market. The demand for export-quality fruits and vegetables in Europe and North American region has compelled the farmers to take up sustainable solutions in farming. Even the government has aided through the banning of pesticides so that the adoption of biological solutions grows exponentially. Various key companies are investing in these regions to expand the bioinsecticides business strategically.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies in the global bioinsecticides market. These companies 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), among others.
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