Austin, Aug. 21, 2024 (GLOBE NEWSWIRE) -- The Bioinsecticides Market Size was valued at USD 99.4 Million in 2023 and is expected to reach USD 258.3 Million by 2032 and grow at a CAGR of 11.2% over the forecast period 2024-2032.
The bioinsecticides market is gathering significant momentum driven by rising demand for eco-friendly pest control measures and a benign regulatory environment. Several news flows in recent times testify to the strong growth and innovation in the space. For instance, in April 2024, Bayer announced that it had attained rights to a revolutionary new bioinsecticide predicted to transform pest management within arable crops. This would help Bayer to enrich its portfolio and gain strength in the bioinsecticides market. Meanwhile, Trendlines Group announced that during early 2024, Nufarm entered into a strategic collaboration with IBI Ag. The collaboration would offer novel bioinsecticides for developing products with enhanced efficiency and safety for the environment. Thus, further pushing the growth of the market.
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Key Players
- BASF SE
- Bayer AG
- Syngenta AG
- Kilpest India Ltd
- Nufarm
- Marrone Bio innovations
- Novozymes A/S
- Biobest Group NV
- Som Phytopharma
- Valent Bioscience
The increasing adoption of sustainable agriculture practices, which are part of an intrinsic package for managing pest resistance and lowering chemical pesticide use, will dynamically influence the market. Because of their targeted action and low impact on the environment, bioinsecticides come into fashion and are either original or derived from natural organisms. The key segment in this market is microbial bioinsecticides, which currently occupy a huge share on account of their high efficiency and broad spectrum against a wide range of pests. Bacillus thuringiensis and Beauveria bassiana are massively applied in agriculture due to their effectiveness and safety.
Bioinsecticides Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 99.4 Million |
| Market Size by 2032 | US$ 258.3 Million |
| CAGR | CAGR of 11.2% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Segments | •By Type (Macrobials, Microbials, Others) •By Organism (Bacillus thuringienis, Beauveria bassiana, Verticillium lecanii, Metarhizium anisopliae, Baculovirus, Others) •By Mode of Application (Foliar Spray, Soil Treatment, Seed Treatment, Others) •By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Drivers | • Increasing regulatory support and incentives for sustainable agriculture practices • Rising consumer demand for organic and environmentally friendly pest control solutions |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
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Segment Analysis
The fruits & vegetables segment dominated bioinsecticides market by occupying a share of approximately 45% in 2023. This domination is majorly attributed to the high demand for bioinsecticides in protecting these high-value crops from pests and diseases. Fruits and vegetables are rather very prone to a wide range of pests, which badly affect the yield and its quality. For example, bioinsecticides like *Bacillus thuringiensis* have wide application for the control of caterpillar pests in vegetables and fruit crops. The efficacy of these biopesticides in controlling the pest population without affecting the organic certification has made them one of the preferred choices for the growers, which drives the significant market share of the segment.
Biopesticides an Eminently Sustainable Alternative to Organic Farming
Biopesticides form one of the most happening sustainable agriculture cases in organic farming. The use of conventional chemical pesticides is totally banned in this, and the sources from which they are derived are plants, microorganisms, and mineral resources, which are naturally available. They also have the tendency to control pests through a specific mode of action that causes comparatively less injury to the environment. In contrast to chemical pesticides, which percolate through the soil and water and lead to disturbances in ecosystems, biopesticides act by developing resistance in target pests or through direct antagonism against specific pests, thereby maintaining ecological balance. They are well in accordance with the gradual demand for more ecologically friendly organic agricultural practices for environmental health and sustainability. This is further promoted by the use of biopesticides, which reduce the reliance on synthetic chemicals by improving soil health and biodiversity. They are also involved in the process of organic certification standards, and that is why farmers would prefer them in the operation of organic sustainable agricultural ventures. With more enhancements in research and development, it will then remain essential to extend the reach of efficacy and applicability of the pest management solutions in organic farming.
Recent Developments
February 2023: Vestaron launched Spear RC, a next-generation peptide-based bioinsecticide targeting Lepidopteran pests such as armyworm, soybean looper, and cotton bollworm. Spear RC is aimed at rice, soybean, and cotton crops.
September 2023: Croda introduced Atlox BS-50, a delivery technology created in response to the rapidly expanding biopesticide market.
Regional Analysis
In 2023, North America dominated the bioinsecticides market by capturing an estimated share of approximately 40% in this market. This is majorly attributed to the strong regulatory frameworks and wide adoption of sustainable agricultural practices in the region. For instance, through its integrated pest management programs, the U.S. Environmental Protection Agency has helped to popularize biological pest control methods; as such, it has tremendously boosted the application of bioinsecticides. Moreover, it is a region which houses key players in the industry and continuous research and development in it, which makes North America the leading region in the global market.
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Key Takeaways:
- Bioinsecticides market growth is rapid, specifically due to the growing environmental awareness and regulatory support for practical actions toward sustainable agriculture.
- North America dominates the market due to favorable regulations and high adoption rates, while Europe contributes significantly as well due to stringent environmental policies.
- The trends in the market are geared towards more innovative and efficient biological pest control solutions, which are propelled by ongoing researches coupled with consumer demands for eco-friendly products.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization Analysis by Region
5.2 Feedstock Prices Analysis by Region
5.3 Regulatory Impact: Effects of regulations on production and usage.
5.4 Environmental Metrics Analysis by Region
5.5 Innovation and R&D
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Bioinsecticides Market Segmentation, by Type
8. Bioinsecticides Market Segmentation, by Organism
9. Bioinsecticides Market Segmentation, by Mode of Application
10. Bioinsecticides Market Segmentation, by Crop Type
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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