Asia Pacific is projected to be the fastest-growing market during the forecast period, due to increased awareness and increasing production of organic fruits & vegetables.
The biorational pesticides market is estimated at USD 2.78 billion in 2017, and projected to grow at a CAGR of 12.5%, to reach USD 5.02 billion by 2022. The market is primarily driven by factors such as growth in organic farming and promotion of natural products for agriculture by government organizations.
Asia Pacific is projected to be the fastest-growing regional market due to the increasing demand and export of organic fruits & vegetables. One of the major restraints in the growth of the biorational pesticides market is the limited product availability and low efficacy of biologicals.
Biorational insecticides segment led the market with the largest share
On the basis of type, the biorational pesticides market was led by the insecticides segment. Biorational insecticides are applied to destroy specific pests on plants without affecting the surrounding environment; hence, the market for biorational insecticides accounted for the largest share in 2016.
One of the most important features of biorational insecticides is that they are specific to a well-defined range of target insect species in contrast to chemical pesticides, which usually affect a wide range of species.
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Botanical sources of biorational pesticides account for the largest share
Based on source, the botanicals segment accounted for the largest share in the biorational pesticides market in 2016. Botanical pesticides contain naturally occurring substances that control pests using a non-toxic mechanism.
Soil treatment to be the fastest growing mode of application of biorational pesticides
Based on mode of application, the soil treatment segment is expected to be the fastest-growing during the forecast period. This segment is rapidly growing mainly due to the increasing application of biopesticides, nutrition enhancers, growth regulators, and biorational pesticides to treat soil for protection against pest attacks in the initial stage of crop production.
Fruits & vegetables lead the crop type segment
On the basis of crop type, the fruits & vegetables as segment accounted for the largest share in the biorational pesticides market in 2016. Fruits & vegetables are grown on a larger scale in greenhouses, which drives the demand for biorational pesticides.
Liquid formulation accounted for the largest share in the biorational pesticides market
On the basis of formulation, the liquid segment accounted for the largest share in the biorational pesticides market in 2016. The liquid form is in high demand as it is economical, convenient to use, and has an effective means of application of biorational pesticides.
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High growth is expected in the Asia Pacific biorational pesticides market
Asia Pacific is projected to be the fastest-growing market for the period considered for this study, due to the rising awareness about biorational pesticides and continuous technological advancements in farming in the region. In addition, the growing demand for crops and rising cultivation in Asia Pacific countries have encouraged agribusiness companies to expand their supplier and manufacturing bases in the region.
Leading players profiled in this report:
- Bayer (Germany)
- Monsanto BioAg (Germany)
- BASF SE (Germany)
- DowDuPont (US)
- Syngenta (Switzerland)
- Valent Biosciences (US)
- Isagro SPA (Italy)
- Koppert (The Netherland)
- Marrone Bio Innovations (US)
- Russell IPM (UK)
- Gowan Company, LLC (US)
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