Bioinsecticides Market Size
Bioinsecticides market size is growing at a healthy CAGR owing to increase rise in incidence of pest and insecticides attack in the agriculture fields.
Bioinsecticides Market Overview:
Bioinsecticides are the biological agents used to inhibit the growth of pests, which are harmful to plants. These bioinsecticides uses organic toxins to kill the insects to improve the crop yield, most of the bioinsecticides are derived from the microorganisms include fungi, bacteria, and viruses. Bioinsecticides are used in very small quantities and their mechanism of action is slow and targeted. Bioinsecticides are generally used to prevent the growth of insects and disease carriers such as spiders, ticks, and rats among others. The commercially available bioinsecticides are live microorganisms, hence their action depends on the soil pH, optimum temperature, and humidity.
Market Dynamics: Bioinsecticides Market
Increase in the awareness about the environmental hazards with synthetic insecticides, rise in mutation in natural flora and infertility of soil due to chemical insecticides, cost-effective and simple culturing process, an increase in the crop loss due to the insect diseases are anticipated to fuel the bioinsecticides market over the forecast period. Moreover, government initiatives to the change farming practices, development of newer bioinsecticide products, and increase in the demand for healthy food products are expected to propel the bioinsecticides market over the forecast period. However, stringent regulatory policies on pesticides, slow mode of action of bioinsecticides, and lesser shelf life of products are expected to restrain the bioinsecticides market over the forecast timeframe.
Bioinsecticides Market Segmentation:
Global Bioinsecticides market is segmented on the basis of insecticide type, mode of application, mechanism of action, formulation type, and crop type
Based on the insecticide type, it is segmented into the following:
- Beauveria Bassiana
- Bacillus Thruingiensis
- Metarhizium Anisopliae
- Verticillium Lecanii
Based on the mode of application, it is segmented into the following:
- Seed Treatment
- Foliar Spray
- Soil Treatment
Based on the mechanism of action,it is segmented into the following:
- Mating disruption
Based on the formulation type, it is segmented into the following:
- Solid bioinsecticides
- Liquid bioinsecticides
Based on the crop type, it is segmented into the following:
- Vegetables and fruits
- Cereals and grains
- Oilseeds and pulses
Market Summary: Bioinsecticides Market
Market players are focusing on the development of newer bioinsecticides due to low cost of R&D activities and increase in the demand for bioinsecticides than synthetic products. Developed countries have a significant share in bioinsecticides market owing to increase in the awareness about the benefits of bioinsecticide products. Moreover, acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue share in bioinsecticides market. For instance, in July 2016, Marrone Bio Innovations received the Mexico regulatory authority’s approval for its bioinsecticide products Grandevo and Venerate. Moreover, in January 2016, Lallemand expanded its plants care unit in Latin America by the acquisition of Labortorio farroupilha including bioinsecticide products.
Regional Analysis: Bioinsecticides Market
Geographically, bioinsecticides market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America bioinsecticides market exhbiting significant growth owing to rise in organic and eco-friendly farming, increase in the demand for healthy food products, rise in the R&D activities for the innovation of newer bioinsecticides, and increase in the production of fruits and vegetables in the region. Europe bioinsecticides market accounted for significant share, owing to increase in the awareness about the bioinsecticides, low cost and better availability of the products, and high adoption of eco-friendly farming are the factors upsurge the revenue of Europe bioinsecticides market. Moreover, Asia Pacific bioinsecticides market expected to grow at significant rate over the forecast period due to increase in the dependence on farming in India and China, increase in awareness about the bioinsecticide products benefits, and low cost of the products are bolster the market in the region.
Market Participants: Bioinsecticides Market
Some of the players in Bioinsecticides are Novozymes A/S (Denmark), BASF SE (Germany), Bayer CropScience AG (Germany), The Dow Chemical Company (U.S.), Marrone Bio Innovations Inc. (U.S.), Syngenta AG (Switzerland), Valent BioSciences Corporation (U.S.), and Koppert B.V. (Netherlands) to name a few.
Notable Market Developments:
- In May 2017, Marrone Bio Innovations and Agri-Star inked a distribution agreement for the distribution of bioinsecticides Venerate and Grandevo in Mexico
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2016) and forecast (2017-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market