Biorational Market to grow from $ 2.27 billion in 2016 to $ 6.01 billion by 2021 at a CAGR of 21.5%.
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According to a new market research report , the Biorational Market to grow from USD 2.27 billion in 2016 to USD 6.01 billion by 2021 at a CAGR of 21.5%.
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Biorationals are essentially insecticides that are effective against the target but are not very harmful to natural enemies. These products are generally derived from the natural sources such as plant extracts, insects pathogens.
The bio-rational products are widely used in structural pest control, agriculture, public health, forestry, turf, aquaculture, and home and garden.
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The implementation of pest management system is expected to drive the market during the forecast period. The pesticides which are currently available in the market are synthetic based and cause harm to the crop produce.
As a result, there is an increased need for bio based products. The chemical residue left out on crops can prove to be harmful by impairing the endocrine system of the body.
Many conventional pesticides are bring withdrawn from the market which is driving the growth of the Biorational Market. There also has been a rise in the demand for organic food products which in turn fuels the growth of the market.
There has an increased awareness among people regarding the hazardous effects of chemical pesticides. However, people are still not aware about the biorational products and their usage which might be a hindrance to the growth of the market.
The market for Biorational is broadly categorized into product, crop type and method of propagation.
By product the market is segmented into- botanical products, microbial pesticides, Semiochemicals and other biorational products. Semiochemicals are dominating the market in the product type segment.
Increasing adoption of efficient monitoring and quality control techniques in the agricultural industry has attributed to the market growth.
By crop type, the market is further segmented into grains& oil seeds, fruits& vegetables and other crops. The fruits and vegetables segment accounts for the largest share in the crop type segment.
Cereals & grains segment is characterized by high frequency of bug diseases and subsequent economic losses.
By method of propagation the market is analysed under foliar spray, seed treatment, soil treatment and others.
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia Pacific and Rest of the World.
The Biorational Market was dominated by North America followed by Europe. Asia Pacific region is expected to have a high CAGR, with China dominating the market in that region.
Some of the key players dominating the Biorational Market are Koppert B.V., Marrone Bio Innovations, Monsanto Company, The Dow Chemical Company, and Gowan Company LLC, Valent U.S.A. Corporation, Russell IPM limited, Agralan limited, Monsanto Company, Gowan company LLC, Suttera, Syngenta, BASF SE, Isagro S.P.A, and Bayer AG.
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