(I-BusinessNews.Com, November 20, 2019 ) The report “Bioinsecticides Market by Type (Bacteria Thuringiensis, Beauveria Bassiana, Verticillium Lecanii & Others), Mode of Action (Predators, Parasites & Pathogens, Bio-Rationals), Mode of Application, Formulation, Crop Type, & by Region – Global Trends & Forecast to 2021″, The overall bioinsecticides market is projected to grow from USD 1.38 billion in 2016 to USD 3.19 billion by 2021, at a CAGR of 18.3% from 2016 to 2021. Bioinsecticides are usually less toxic than conventional chemical insecticides, and have the advantages of being pollution-free, residue-free, while also being highly efficient. Steady realization of the potential benefits of using bioinsecticides to manage pests, without compromising the use of conventional sprays and with less pre-harvest duration, is one of the prime catalysts driving the growth of the market. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
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Government support for the use of bioinsecticides and industrial promotions for integrated pest management (IPM) techniques drives the global bioinsecticides market
Regulatory bodies such as the US Department of Agriculture (USDA), Environmental Protection Agency (EPA), and the Food and Drug Administration (FDA) are actively involved to support the use of bioinsecticides over conventional insecticides, thereby reducing the drastic impact of harmful chemicals on the environment and ecosystem. Global bioinsecticide manufacturers have been promoting the implementation of Integrated pest management (IPM) to increase the usage of biology-based technologies (BBT), capturing maximum profit shares in the pest control market. IPM is an ecology-based pest control practice that relies heavily on natural mortality factors and seeks out control tactics that adopt these factors. BBT are used in IPM programs adopted by various governments.
Liquid formulation in bioinsecticides is the largely preferred product type
Bioinsecticides are produced in fermenters mixed with bacteria, fungi, and other agents. The commercial preparations usually contain a mixture of spores, crystal proteins, and inert carriers. The formulation may be in the form of a water dispersible powder, wettable powder, emulsifiable concentrate, granules, or dust. It may be mixed with chemical insecticides or fungicides, if required. Liquid formulations serve as a better medium to maintain the dormancy of microbial as well as increase the shelf life of products.
Fruits & Vegetables Segment is the Major Crop Type Application in the Bioinsecticides market
Fruits & vegetables accounted for the largest share of the crop type application of bioinsecticides in 2015. With the increasing consumption of fruits & vegetables and increasing demand for tropical and exotic fruits & vegetables in the developing countries globally, this segment is likely to witness growth by the year 2021. The others segment that includes turf & ornamental crops accounted for the second largest share in 2015.
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North American Region Dominated the Bioinsecticides Market in 2016
The North American region was the largest market for bioinsecticides in 2015. Countries such as the U.S., Canada, and Mexico are major producers of fruits & vegetable crops. The rise in organic & environment-friendly farming practices has increased the demand for bioinsecticides especially in the U.S. The market in Canada has been driven by the rise in the cost of fertilizers & pesticides that have led to high usage of bioinsecticides. Brazil and Argentina are also active countries for the usage of bioinsecticides. Countries in Asia-Pacific are at the growth stage in this market. China is the major country followed by India, Australia, and Indonesia.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Valent BioSciences Corporation (U.S.), Syngenta AG (Switzerland), Bayer CropScience AG (Germany), E. I. du Pont de Nemours and Company (U.S.), Novozymes A/S (Denmark), and Koppert B.V. (The Netherlands).
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