DUBLIN--(BUSINESS WIRE)--The "Bioinsecticides Market by Organism Type (Bacteria Thuringiensis, Beauveria Bassiana, and Metarhizium Anisopliae), Type (Microbials and Macrobials), Mode of Application, Formulation, Crop Type, and Region - Global Trends & Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global bioinsecticides market size is projected to grow at a CAGR of 15.8% from an estimated value of USD 2.2 billion in 2020 to reach USD 4.6 billion by 2025.
The bioinsecticides industry has been gaining wide importance among farmers to produce residue-free food products with the adoption of microorganisms based bioinsecticides. Biological solutions have proved to be an effective alternative to conventional chemicals and even work best when applied as a combination.
The increasing infestation of crops produced on a large-scale has compelled the usage of sustainable solutions such as bioinsecticides as they help in controlling pesticide-resistant insects. The growth in organic farming and an increase in the acceptance of organic crops have led to the implementation of Integrated Pest Management (IPM) solutions. Poor knowledge of the application of biologicals, storage issues, and other technological constraints are expected to restrain the growth of the market.
The baculovirus market to grow at the highest rate during the forecast period.
Baculovirus is projected to be the fastest-growing market among other organisms. Increased insect pest attack has been affecting the of the greenhouse cash crops, which accounts for a huge loss for farmers. Invasive pests such as Tuta Absoluta have resulted in great loss in many European regions, which has been efficiently controlled using baculovirus.
Even the US is a huge market for virus-based bioinsecticides. Its gaining wider popularity in comparison with Bacillus species and product availability are also driving the growth of the market. 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.
The liquid formulation bioinsecticides market to be the largest and faster-growing among formulations segment for the forecast period.
Liquid formulations are estimated to account for the larger market share in the forecast period. 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, the liquid formulations market is estimated to continue growing in the future as well.
South America is estimated to be the fastest-growing bioinsecticides market during the forecast period.
South America includes various countries whose economy relies mainly on agriculture. The countries are adopting sustainable solutions to cultivate residue-free crops to be able to export crops such as soybean and corn to Europe. It cultivates various high-value crops, both for domestic and export purposes, which drives the demand for bioinsecticides. The increase in the infestation of pests due to pest resistance in high-value crops is also driving the growth of the market. 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 intoxicity across the food chain. Therefore, the ban on pesticides has been proposed by the government to reduce the impact of chemical pesticides on bees.
- Increase in Pest Resurgence and Integrated Pest Management (Ipm) Measures
- Growth in Acceptance for Organic Food
- Awareness Programs by Government Agencies
- Huge Crop Loss Due to Invasive Pest Attacks
- High Costs Associated with the Development of Synthetic Crop Protection Products
- Short Shelf Life of Bioinsecticides
- Poor Infrastructure & High Initial Investment Required for Storage and Transport of Bioinsecticides
- High Growth in Bio-Control Seed Treatment Solutions
- Providing Customized Solutions Targeted Toward Specific Pests
- Growth Opportunities in Developing Regions Such As Asia Pacific and South America
- Counterfeit Products in Developing Countries
- Lack of Awareness and Low Utilization of Bioinsecticides
- BASF SE
- Bayer AG
- Syngenta AG
- Marrone Bio Innovations
- Novozymes A/S
- Biobest Group NV
- Som Phytopharma India Ltd
- Valent Biosciences Llc
- Kilpest India Ltd
- Andermatt Biocontrol AG
- International Panaacea Ltd
- Bioworks Inc.
- Kan Biosys
- Futureco Bioscience S.A.
- Biosafe Systems
- Certis Usa Llc
- Vestaron Corporation
- Sds Biotech K.K
- Camson Biotechnologies Ltd
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