Biorational Pesticides Market worth $15.1 billion by 2028, Growing at a CAGR of 15.2%
The global biorational pesticides market will grow from USD 7.5 billion in 2023 to USD 15.1 billion by 2028, growing at a CAGR of 15.2% during the forecast period. As reported by the FiBL & IFOAM – Organics International in 2023, the global organic agricultural land surpassed 76.4 million hectares in 2021, encompassing areas undergoing conversion. This significant expansion in organic farming practices has notably influenced the surge in the biorational pesticides market. Organic agriculture, prioritizing natural and sustainable methods while shunning synthetic chemicals, has been pivotal. It underscores a focus on eco-friendly solutions and aligns perfectly with the essence of biorational pesticides—derived from natural origins and demonstrating minimal environmental impact. This mutual alignment complements the core principles of organic farming, fostering the heightened adoption of biorational pesticides within this evolving agricultural landscape.
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Significant investments from both public and private sectors have been drawn to the expanding market potential of biorational pesticides. This influx of capital has played a crucial role in enabling the development and commercialization of novel biorational pesticide products which are sourced from botanical, microbial, and non-organic materials. Investment in research and infrastructure has further stimulated market growth, enhancing global accessibility of biorational pesticides for farmers.
The botanical source of the biorational pesticides segment is driving the market due to simpler storage needs and broad spectrum effect against insects, fungi, or other pests
Pesticides derived from plant sources or their extracts, known as botanical-based pesticides, frequently exhibit characteristics that enhance their stability during storage. These compounds, originating from plants, often possess inherent stability, mitigating rapid degradation or breakdown under standard storage conditions. This inherent stability contributes to an extended shelf life in comparison to certain microbial-based pesticides.
In terms of storage requirements, botanical-based pesticides typically demand simpler conditions than some microbial-based counterparts. While they may require standard storage practices, such as averting extreme temperatures or excessive moisture, they generally do not mandate specialized storage facilities or rigorous environmental controls.
Moreover, some botanical-based pesticides exhibit a broad-spectrum effect, meaning they have the capability to target and control a wide range of pests. These pesticides, derived from plant sources or their extracts, might possess compounds that affect various types of insects, fungi, or other pests. For instance, certain plant-derived compounds like pyrethrins or neem oil can impact a broad range of insects and diseases, offering a comprehensive approach to pest control.
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Liquid formulation segment exhibits highest CAGR of 15.3%, driving biorational pesticides market growth
Liquid formulations of pesticides present distinct advantages over their dry counterparts, propelling their increased market demand. Their ease of application stands out as a primary factor, as liquids allow for more uniform spraying over large areas, ensuring enhanced coverage, particularly on uneven or densely foliated surfaces. This attribute facilitates efficient application, contributing to better pest management outcomes.
Moreover, the precision of liquid formulations in delivering active ingredients to specific pests or targeted areas further distinguishes them. This targeted delivery mechanism elevates their efficacy in pest control strategies, ensuring a more focused and effective approach. Additionally, the convenience in handling and mixing liquid formulations during preparation and application adds to their appeal. Their ability to seamlessly blend with diverse substances or additives enhances their versatility in pest management practices. As a result of these advantages and their perceived efficiency, liquid formulations have gained favor among farmers and pest management professionals, fostering their increasing preference and market growth.
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North America accounts largest share in the biorational pesticides market and witnessing growth due to tight regulations and limitations on the application of conventional chemical pesticides
The agricultural sector in North America is characterized by a variety of farming systems, including large-scale commercial operations and smaller organic and specialty crop farms. This diverse landscape creates favorable conditions for the utilization of biorational pesticides across a wide range of crops.
In North America, regulatory bodies have erected robust frameworks, rigorously scrutinizing the usage of conventional pesticides, fueled by apprehensions encompassing safety and environmental repercussions. These stringent measures have triggered a surge in the quest for biorational pesticides, esteemed for their perceived safety and eco-friendly attributes. A significant milestone unfolded when the U.S. Environmental Protection Agency (EPA) championed the cause of shielding children and agricultural workers from the perils of a hazardous pesticide with ties to enduring cognitive impairments.
In a monumental move unveiled in August 2021, the agency unveiled plans for a sweeping prohibition on chlorpyrifos across all food crop applications, marking an epochal stride in safeguarding public health and the environment. This decisive action, born out of mounting concerns about the pesticide’s detrimental impacts, stands as a testament to the intensifying drive toward embracing safer and more sustainable alternatives in the agricultural landscape. The pronounced pivot towards biorational pesticides amid stringent regulatory reforms underscores an ardent commitment to fostering a safer, greener future in pest management practices within North America.
The key players in the biorational pesticides market include BASF SE (Germany), Bayer AG (Germany), UPL (India), FMC Corporation (US), Syngenta AG (Switzerland), Novozymes A/S (Denmark), Sumitomo Chemical Co., Ltd (Japan), Pro Farm Group Inc (US), Koppert (Netherlands), Valent BioSciences LLC (US), Gowan Company (US), Certis Biologicals (US), Biobest Group (Belgium), BIONEMA (UK), and Vestaron Corporation (US).
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