Bioinsecticides Market is forecast to reach $4.8 billion by 2025 after growing at a CAGR of 16% during 2020-2025. Bioinsecticides are pesticides made from natural materials that are meant to control or kill insects. These bioinsecticides are composed of animals, plants, bacteria, or minerals found in nature. Bioinsecticides are organic formulations which control the insects that feed on the crop. The growth of the market of bioinsecticides is expected to be driven by the high demand from factors such as an increase in acceptance of organically grown crops, and gradual phase-out of key active ingredients and government policies that are favoring the implementation of bioinsecticides.
By Organism Type – Segment Analysis
Baculovirus held the largest share in the bioinsecticides market. Increased insect pest attack has been affecting the of the greenhouse cash crops, which accounts for a huge loss for farmers. Baculovirus is an effective biocontrol agent that does not harm the health of applicators, do not kill natural enemies of pests and do not contaminate the environment these are some of the driving factors for the growth of baculovirus as a bioinsecticides. Insect pest attack is a severe problem observed in many regions of the world affecting crop production, and hence, it will gain a significant share of demand among the companies to produce various strains of baculovirus. Due to its effectiveness in killing invasive pests, it has boosted the growth of the baculovirus market in the forecast period. Bacteria Thuringiensis held the second largest share in the bioinsecticides market. It is naturally occurring soil-borne bacteria. When the bacteria is consumed by certain insects, the toxic crystal is released in the insect’s highly alkaline gut, blocking the system which protects the pest’s stomach from its own digestive juices. The stomach is penetrated, and the insect dies by poisoning from the stomach contents and the spores themselves. This factor will drive the growth of bacteria thuringiensis market in the forecast period.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=505109
Report Price: $ 4500 (Single User License)
By Type- Segment Analysis
Natural Insecticides held the largest share in the bioinsecticides market in 2019. Natural insecticides contain chemical, mineral, and biological materials and some products are available commercially, e.g., pyrethrum, neem, spinosad, rotenone, abamectin, Bacillus thuringiensis, garlic, cinnamon, pepper, and essential oil products. Practically, the major categories of natural insecticides are botanical, soaps and oils, minerals, and microbial. The selectivity and safety of natural insecticides are not absolute and some natural compounds are toxic in nature. Depending on the kind of insect invading the plant, the kind of natural insecticide will vary. These factor will drive the growth of natural insecticides market in the forecast period.
By Crop Type- Segment Analysis
Cereals and grains segment held the largest share in the bioinsecticides market in 2019. Since cereals are grown in almost all countries, the global demand for insecticides is high for them. On a global level, the total cereal production has been increasing, and with the growth in cereal production and consumption, it has become important for producers to focus more on its yield and quality by using effective bioinsecticides. The cereals and grains market is witnessing growth as they are a rich source of vitamins and minerals, and are used in large amounts in animal feed. Heavy infestation of insect pests in the cereals and grains is witnessed, which deteriorates the quality and overall appearance of the produce. This results in a huge loss of crops, leading to a decline in the economy of the countries, especially those that significantly rely on agriculture. Therefore, farmers have been using the bioinsecticides in combination with conventional chemicals, which has helped them in achieving no residue crops with internationally accepted standards. This factor will drive the growth of the bioinsecticides market in the forecast period.
By Formulation- Segment Analysis
The liquid formulation held the largest share in the bioinsecticides market. The ease of application and transportation are the key drivers for the growth of the liquid formulations segment. Farmers have been using it for many years, as it is easy and safe to handle in comparison with dry formulation. With the increase in organic farming and increased acreages under precision irrigation technologies. They are adaptable to any type of sprayer, ranging from portable sprayers to hydraulic spraying machines. They are relatively easier to handle for treating large areas, which is the main reason for dominating the bioinsecticides market.
By Application – Segment Analysis
Foliar spray held the largest share in the bioinsecticides market in 2019 growing at a CAGR of 6%. Foliar spray involves applying fertilizer directly to a plant’s leaves as opposed to putting it in the soil. Foliar spray uptake of nutrients is much faster than root uptake. Therefore foliar feeding is the method of choice when deficiency symptoms are noted, and prompt correction of deficiencies is required. Nutrients rapidly absorbed through the foliage, providing the plant with the missing nutrients, and strengthening it. Foliar spray is widely used among farmers as it helps in the immediate recovery of pest-infected parts of plants. It is considered to be more effective as it is easy to handle and safe in application. It can be applied to the infected area for fairly quick results when compared to other methods. The handling of bioinsecticides in foliar spray has been seamless for farmers, especially in high-value crops. The long shelf-life of foliar spray formulation demands less maintenance. These factor will drive the growth of foliar spray market in the forecast period.
By Geography- Segment Analysis
South America dominates the bioinsecticides market with a share of more than 39% followed by North America, APAC, and Europe. The economy of South America is mainly influenced by the economic dynamics of countries such as Mexico and Columbia, but with growing foreign direct investment for economic development of South America, the current scenario is changing. Countries in South America are witnessing high growth 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. With the awareness of organic farming and the harmful effects of chemical-based farming, consumers have tended to accept the organic crops. The government also has introduced strict regulations on the use of chemical pesticides that not only kill the beneficial insects but increase in toxicity across the food chain. Therefore, the ban on pesticides has been proposed by the government to reduce the impact of chemical pesticides on bees. The demand to increase the export quality of crops has led to an increase in the market for bioinsecticides. The 2019–20 coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. The agriculture sector which is the end use industry of bioinsecticides is harshly effected by this epidemic. COVID-19 is disrupting activities in agriculture and supply chains. Preliminary reports show that the non-availability of labor is interrupting harvesting activities, particularly this time when wheat and pulses are being harvested. There are disruptions in supply chains because of transportation problems and other issues. Prices have declined for wheat, vegetables, and other crops, yet consumers are often paying more. These factor will hamper the growth of bioinsecticides market for this year but after the situation become normal it will grow with a steady rate in the forecast period.
Drivers – Bioinsecticides Market
Rise in agricultural productivity will drive the growth of the market in the forecast period
Rise in agricultural productivity is achieved by the use of high-yield varieties of seeds, advanced irrigation technologies, and agricultural chemicals such as insecticides. Output and productivity have increased significantly in most countries; for example, wheat yield in the UK and corn yields in the US. Bioinsecticides have been an integral part of the process by reducing losses from diseases and insects that result in reduced amount of harvestable produce. According to the FAO, there would be a considerable economic loss globally, without the use of bioinsecticides. Severe infestation of insects, particularly in the early stage of crop establishment, ultimately accounts for a yield reduction. Insecticides are helpful in providing both economic and labor benefits, thereby resulting in a lower crop loss. This factor will drive the growth of bioinsecticides market in the forecast period.
Growth in environmental considerations will drive the growth of market in the forecast period
Bioinsecticides are insecticides produced with natural inputs. With the growth in environmental considerations and health hazards from many synthetic insecticides, the demand for bioinsecticides has been rising steadily in all parts of the world. Bioinsecticides are growing in popularity, due to their less or non-toxic nature as compared to synthetic counterparts. Moreover, bioinsecticides provide a more targeted activity towards desired insects, unlike conventional insecticides that often affect a broad spectrum of species. Further, bioinsecticides can be very effective in small quantities, thus, they offer lower exposure and are quickly decomposable, leaving virtually no harmful residue after application. This factor will drive the growth of bioinsecticides market in the forecast period.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Bioinsecticides Market
Counterfeit products in developing countries will hinder the growth of market in the forecast period
The manufacturing and trade of counterfeit bioinsecticides products are expected to present a huge challenge to the players present in the organized bioinsecticides industry. The availability of technology and loopholes in the regulatory framework facilitate the development and trade of counterfeit and sub-standard bioinsecticides products. The unorganized bioinsecticides industry in developing countries such as India, China, Indonesia, and South Africa is producing substandard products and providing them at low prices, which affects the quality and quantum of production resulting in economic losses to farmers. The contents of these products are not labeled as per the required norms, which again poses a risk to farmers, environment, consumer, and product handlers. This factor will hinder the growth of bioinsecticides market in the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the bioinsecticides market. In 2019, the market of bioinsecticides has been consolidated by the top five players accounting for XX% of the share. Major players in the bioinsecticides market are Syngenta AG, Bayer Cropscience AG, Isagro SPA, BASF SE, Valent Biosciences Corporation, and Others.
Acquisitions/Technology Launches/Product Launches
In July 2019, BASF SE launched a bioinsecticides named Velifer for pest control in vegetable crops, registered for use in Australia. Velifer is bioinsecticides which beneficial for insects. It attack and kill targeted insects, without affecting any other organisms. Within the infected insect, the beneficial nematodes continually reproduce and then spread out for long-term control.
In March 2019, Syngenta AG launched its first bioinsecticides, Costar, in Portugal. The formulation is based on the strain of Bacillus spp., for use in more than 50 crops in European countries.
South America dominates the bioinsecticides market owing to increasing demand from agriculture cultivation.
Increasing demand for high-value crops grown under organic farming is driving the growth of the market in the forecast period.
The slow mode of action to bring about insecticidal effect is expected to hamper the growth of market in the forecast period.
Related Reports :
A. Seed Treatment Fungicides Market
B. Soil Stabilization Market
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.