NEWARK, Del, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The biorational pesticide market is poised for significant growth, with its size expected to increase from US$ 8.9 billion in 2024 to a substantial US$ 39.7 billion by 2034. Over the next decade, a staggering 16.1% CAGR in the adoption of biorational pesticides is projected to drive this expansion.
One of the main reasons propelling the market growth is growing consumer awareness of the products' positive effects on the environment and human health. In addition to lowering the possibility of chemical residues in food and promoting biodiversity conservation, biological pesticides are a more environmentally responsible option than conventional chemical pesticides.
Farmers are also using biorational solutions in response to stricter restrictions and growing customer demand for food produced responsibly. Over the next ten years, there is likely to be an impressive expansion in the biorational pesticide market as long as the agriculture sector continues to emphasize ecologically friendly methods.
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Stringent regulatory measures imposed by governments to restrict the use of traditional chemical pesticides have prompted a surge in the adoption of biorational alternatives, further accelerating market expansion. Technological advancements in biopesticides are another important factor influencing the direction of the biorational pesticide industry. Research and development advances have resulted in the creation of highly efficient, customized biopesticides that provide a long-term solution for managing pests.
“Recent advances in the biorational pesticide market, like bacillus thuringiensis-based microbial pesticides and pheromone-assisted techniques, signal a promising future. These advancements create lucrative opportunities for market players. The acceptance of sustainable and effective solutions, coupled with evolving technologies, positions the market for positive growth. As consumer preferences shift toward eco-friendly options, the market stands poised for a bright and sustainable route.” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Biorational Pesticide Market
- Between 2019 and 2023, the biorational pesticide industry recorded a CAGR of 20.1%.
- The biorational pesticide industry in the United States is estimated to witness impressive growth with a projected 16.2% CAGR from 2024 to 2034, driven by the increasing awareness among farmers about sustainable and environmentally friendly agricultural practices.
- China's biorational pesticide industry is projected to follow closely with an estimated 16.7% CAGR through 2034, attributed to the increasing recognition of the importance of ecological sustainability in the country's agriculture sector.
- The biorational pesticide market in the United Kingdom is likely to show a 16.9% CAGR between 2024 and 2034, influenced by a pronounced shift in agricultural practices toward sustainability and environmental responsibility.
- Japan's biorational pesticide industry is projected to develop at 17.4% CAGR through 2034, propelled by the growing acknowledgment of the importance of sustainable agriculture and a heightened focus on environmental conservation.
- The South Korea biorational pesticide industry is likely to exhibit a 17.2% CAGR from 2024 to 2034, impacted by a burgeoning awareness and adoption of sustainable agricultural practices.
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Key Players and Strategies for Success in the Biorational Pesticide Market
Here are some key strategies that players in the biorational pesticide industry employ for success:
- Continuous investment in research and development for innovative and effective biorational pesticide solutions
- Strict adherence to local and international regulations to ensure product approval and consumer safety
- Building strategic partnerships with agricultural organizations, research institutions, and government bodies
- Developing personalized biorational pesticide solutions to meet specific crop-related challenges
- Staying updated with industry trends and incorporating new technologies for continuous improvement
Recent Developments in the Biorational Pesticide Market
- Valent Biosciences, a global pioneer in rational solutions, unveiled MetaLarv® XRP in 2021. This brand-new solution incorporates Triple Release technology which can fight against mosquitoes. It is a newly developed unconventional formulation designed especially for the longer residual control of mosquito larvae.
- To further bolster its biorational business, Sumitomo Chemical stated in October 2020 that its group businesses are going to be realigned. Sumitomo Chemical Group's biorational-related business operations are going to be managed by Valent Biosciences LLC in the United States.
Key Players
- Bayer AG
- Monsanto Bioag
- Valent Biosciences LLC.
- Sumitomo Chemical
- Isagro SAP
- Koppert
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Key Segmentations:
By Source:
- Botanical
- Microbial
- Minerals
- Others
By Application:
- Foliar Spray
- Soil Treatment
- Trunk Injection
- Others
By Type:
- Biorational Insecticides
- Biorational Fungicide
- Biorational Nematicides
- Others
By Crop Type:
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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