According to a market research report by BIS Research, titled ‘Global Biorational Product Market, Analysis and Forecast (2017-2023)’, the global biorational product market is expected to grow at a CAGR of 21.5% through 2017 to 2023. The report puts special emphasis on the market share of the services provided in the biorational product market, owing to the changing paradigms in the industry. The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry, focusing on the investments made in the biorational product market by the market participants.
Biorational products are the insecticides that are comparatively non-toxic to human beings with minimal environmental side-effects. These are typically derived from natural and organic origins which includes biological pesticides as well as products used for crop stress management, enhanced plant physiology benefits, and root growth management. While biorational products have been around for many years now, the market has experienced its most significant period of growth in terms of both revenue and consumer acceptance over the past five years. These products are now being widely used in structural pest control, agriculture, public health, forestry, turf, and aquaculture, among others.
Increasing adoption of the “green crop protection” concept across the globe is driving the demand of biorational products, since these are important for managing the increasing concern over pesticide residues on food and the problem of pest resistance. Significant lowering of maximum residue limits (MRLs) by regulators in many countries is a trend that is expected to continue. Additionally, biorational products are a valuable option because these provide sustainability, crop quality and harvest flexibility benefits.
BIS Research Analysis: bisresearch.com/industry-report/global-biorational-product-market-2023.html
The companies present in biorational product market across the globe has launched a wide range of products, and has adjusted the market arrangement by entering into numerous agreements, collaborations, and partnerships to improve their market presence. It is expected that by 2020 more traditional agrochemical companies will enter the biorational industry and resources will consolidate further.
The biorational product market is expected to progress at a substantial rate due to the ever growing demand for food safety. The growth in this market is being driven by the factors such as increasing adaptation of integrated pest management, the adverse impact of synthetic pesticides has improved the scope of biorational products, increasing demand for organic food products, and awareness regarding the hazardous effects of chemical pesticides. However, the market consists of certain challenges which are inhibiting the overall growth of the global biorational product market such as lack of awareness about biorational products and regulatory framework.
Few companies mentioned in the report:
• The Dow Chemical Company
• Valent U.S.A Corporation
• Sumitomo Chemical Company Limited
• Sipcam Agro USA, Inc.
• Russell IPM Limited
• Nufarm Limited
• Monsanto Company
• Maronne Bio Innovations
• Koppert B.V. The Netherlands
• Isagro S.p.A
• INORA- Institute of Natural Organic Agriculture
• Gowan Company LLC
• E. I. Du Pont Nemours & Company
• Bioworks, Inc.
• BASF SE
• Bayer AG
• Agralan Limited
Key questions addressed in the report:
• What are the different factors driving the market and how will the impact change through the forecast period?
• What are the major factors challenging the growth of global biorational product market and how can they be addressed through the forecast period?
• How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
• Which region will lead the global biorational product market by the end of the forecast period?
• What are the prevalent product type and what is the market size for each of them?
• What are the prevalent crop and non-crop type and what is the market size for each of them?
• What are the prevalent method of propagation and what is the market size for each of them?
• How will the competitive rivalry evolve through the forecast period?
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