Bioinsecticides Market projected to grow with significant CAGR over the forecast period
Bioinsecticides Market projected to grow with significant CAGR over the forecast period
Overview of the Bioinsecticides Market
Bioinsecticides are substances derived from naturally occurring microorganisms such as fungi, bacteria, viruses etc. They can prevent the unwanted growth of the pests which can otherwise impact the overall development of plants. Although, action of bioinsecticides is slow but they can prevent the outburst of harmful insects and disease carrying living organisms such as spider, ticks and rats. Action of these bioinsecticides is also decided by soil pH, optimum temperature, and humidity.
Constraints and Drivers of the Bioinsecticides Market
The growth drivers for bioinsecticides market are: - frequent plant diseases due to insects; growing awareness regarding bad impact of synthetic insecticides on our environment; mutation in natural characteristics of flora; soil infertility due to soil pollution; ease to develop bioinsecticides through culturing and their cost effectiveness etc.
Also, factors like government initiatives to encourage adoption of eco-friendly agriculture practices, growing demand for high quality nutritious food and launch of newer bioinsecticides in the market will further boost the growth of bioinsecticides market.
On contrary, factors like short shelf life of bioinsecticides and their slow action mode, unfavourable regulatory policies regarding usage of pesticides etc will restrict the growth of bioinsecticides market.
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Bioinsecticides Market – Market Segmentation
The global bioinsecticides market can be broadly segmented on the basis of type of insecticides, mode of application, action mechanism, formulation type and crop type.
On the basis of insecticides type, the bioinsecticides market can be segmented as below:-
• Beauveria Bassiana
• Bacillus Thruingiensis
• Metarhizium Anisopliae
• Verticillium Lecanii
On the basis of the mode of application, the bioinsecticides market can be segmented as below:-
• Seed Treatment
• Foliar Spray
• Soil Treatment
• Post-harvest
On the basis of the action mechanism, the bioinsecticides market can be segmented as below:-
• Anti-feeding
• Mating disruption
• Desiccation
• Suffocation
On the basis of the formulation type, the bioinsecticides market can be segmented as below:-
• Solid bioinsecticides
• Liquid bioinsecticides
On the basis of the crop type, the bioinsecticides market can be segmented as below:-
• Vegetables and fruits
• Cereals and grains
• Oilseeds and pulses
• Others
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Analysis of the Bioinsecticides Market Based on Regions
On the basis of geography, the bioinsecticides market can be divided into five important regions. They are:-
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East and Africa
North America is likely to show a significant growth in the projected period, mostly due to factors like – adoption of eco-friendly and organic farming practices; increase in production of fruits and vegetables; more R & D activities and launch of newer products in the market etc.
Similarly in Europe, the growth factors are high availability and low cost of bioinsecticides; popularity of eco-friendly agricultural practices etc.
Again for Asia-Pacific region, growth drivers are – high dependency on agriculture; low cost of bioinsecticides and rising awareness regarding the benefits of using bioinsecticides.
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Bioinsecticides Market – key Players
Few of the key players in the bioinsecticides market are listed below:-
• 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.)
• Koppert B.V. (Netherlands)
Bioinsecticides Market – key Developments
• May, 2017 –agreement between Marrone Bio Innovations and Agri-Star for the distribution of bioinsecticides Venerate and Grandevo in Mexico.
• July, 2016 – Mexico regulatory authority approved Grandevo and Venerate, bioinsecticide products by Marrone Bio Innovations.
• January, 2016 – Acquisition of Labortorio farroupilha by Lallemand in order to expand its business in Latin America.
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