Chicago, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global biorational pesticides market is estimated to expand from USD 7.5 billion in 2023 to USD 15.1 billion in 2028, exhibiting a CAGR of 15.2% over the projected period. The growing awareness about the harmful effects of synthetic pesticides on human health and the environment has led to a rising demand for biorational pesticides. MarketsandMarkets™ provides this information in its research report, titled “Biorational Pesticides Market Forecast, 2023-2028”.
Key Industry Development:
The biorational pesticides market has been witnessing significant developments driven by a growing demand for sustainable and environmentally friendly agricultural practices. However, it's important to note that the specific details may have evolved since then. Consumers' increasing preference for organic and sustainably produced food has driven the demand for biorational pesticides. These products are seen as safer alternatives to conventional chemical pesticides.
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Key Takeaways:
- Biorational pesticides market size will grow from USD 7.5 billion in 2023 to USD 15.1 billion by 2028 during the forecast period.
- Major driving factors include chemical pesticide ban and awareness programs by government
- Botanical source of the biorational pesticides segment is driving the market
Drivers and Opportunities:
Driver: Chemical pesticide ban and awareness programs by government
The detrimental impact of chemical pesticides on soil, the environment, and water bodies globally has spurred a push towards promoting biopesticides in agriculture. This promotion involves awareness campaigns and policies fostering a favorable environment for private sector involvement. In South America, Asia Pacific, and Europe, rapid market growth is observed, driven by campaigns encouraging increased adoption and production of biorational pesticides at both farmer and producer levels.
In North America, the markets for bioinsecticides, biofungicides, and bionematicides—subcategories of biopesticides—are overseen by the Environmental Protection Agency (EPA). The EPA regulates registration and monitors their effects on humans and the environment. Sale and distribution permits for biopesticides fall under the jurisdiction of the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), ensuring safety under the Federal Food, Drug, and Cosmetic Act (FFDCA) for residue-free food and feed.
In India, the Government has initiated the use of bioinsecticides as part of Integrated Pest Management (IPM), employing cultural, mechanical, and biological pest control methods. This approach, along with judicious use of chemical pesticides as needed, is promoted by Central Integrated Pest Management Centers (CIPMCs) through programs like Farmers Field Schools and training initiatives. Such governmental initiatives are pivotal in driving the market for biorational pesticides, particularly bioinsecticides, by emphasizing sustainable pest management practices.
Opportunity: Advancements in microbial research undertaken by key players across regions
Advancements made by companies like Bayer AG (Germany) in microbial and RNA interference (RNAi) technology offer promising opportunities in the biorational pesticides market. Significant research efforts by major industry players in crop protection have paved the way for utilizing biological signals to activate RNAi-specific genes. This innovation holds potential for enhancing disease and pest resistance while boosting crop yield and quality. The focus on developing sprayable RNAi products for biological crop protection is a notable advancement. Monsanto Company (prior to its acquisition by Bayer) received EPA approval in 2017 for genetic engineering technology utilizing RNA interference to combat insect pests. Additionally, Corteva Agriscience (US) acquired licenses for two insect traits from Monsanto, featuring an RNAi rootworm trait. This technology's increased adoption within the industry presents a novel solution particularly beneficial for managing rootworm traits.
Overall, the integration of RNA interference technology into biorational pesticides signifies a promising opportunity. It offers the potential for more effective and targeted pest control while aligning with environmentally friendly practices in crop protection.
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Segments:
The botanical source of the biorational pesticides segment is driving the market due to simpler storage needs and broad-spectrum effect against insects, fungi, or other pests
Pesticides derived from plant sources or their extracts, known as botanical-based pesticides, frequently exhibit characteristics that enhance their stability during storage. These compounds, originating from plants, often possess inherent stability, mitigating rapid degradation or breakdown under standard storage conditions. This inherent stability contributes to an extended shelf life in comparison to certain microbial-based pesticides.
In terms of storage requirements, botanical-based pesticides typically demand simpler conditions than some microbial-based counterparts. While they may require standard storage practices, such as averting extreme temperatures or excessive moisture, they generally do not mandate specialized storage facilities or rigorous environmental controls.
Moreover, some botanical-based pesticides exhibit a broad-spectrum effect, meaning they have the capability to target and control a wide range of pests. These pesticides, derived from plant sources or their extracts, might possess compounds that affect various types of insects, fungi, or other pests. For instance, certain plant-derived compounds like pyrethrins or neem oil can impact a broad range of insects and diseases, offering a comprehensive approach to pest control.
Liquid formulation segment exhibits highest CAGR of 15.3%, driving biorational pesticides market growth
Liquid formulations of pesticides present distinct advantages over their dry counterparts, propelling their increased market demand. Their ease of application stands out as a primary factor, as liquids allow for more uniform spraying over large areas, ensuring enhanced coverage, particularly on uneven or densely foliated surfaces. This attribute facilitates efficient application, contributing to better pest management outcomes.
Moreover, the precision of liquid formulations in delivering active ingredients to specific pests or targeted areas further distinguishes them. This targeted delivery mechanism elevates their efficacy in pest control strategies, ensuring a more focused and effective approach. Additionally, the convenience in handling and mixing liquid formulations during preparation and application adds to their appeal. Their ability to seamlessly blend with diverse substances or additives enhances their versatility in pest management practices. As a result of these advantages and their perceived efficiency, liquid formulations have gained favor among farmers and pest management professionals, fostering their increasing preference and market growth.
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Regional Insights:
North America accounts largest share in the biorational pesticides market and witnessing growth due to tight regulations and limitations on the application of conventional chemical pesticides
The agricultural sector in North America is characterized by a variety of farming systems, including large-scale commercial operations and smaller organic and specialty crop farms. This diverse landscape creates favorable conditions for the utilization of biorational pesticides across a wide range of crops.
In North America, regulatory bodies have erected robust frameworks, rigorously scrutinizing the usage of conventional pesticides, fueled by apprehensions encompassing safety and environmental repercussions. These stringent measures have triggered a surge in the quest for biorational pesticides, esteemed for their perceived safety and eco-friendly attributes. A significant milestone unfolded when the U.S. Environmental Protection Agency (EPA) championed the cause of shielding children and agricultural workers from the perils of a hazardous pesticide with ties to enduring cognitive impairments.
In a monumental move unveiled in August 2021, the agency unveiled plans for a sweeping prohibition on chlorpyrifos across all food crop applications, marking an epochal stride in safeguarding public health and the environment. This decisive action, born out of mounting concerns about the pesticide's detrimental impacts, stands as a testament to the intensifying drive toward embracing safer and more sustainable alternatives in the agricultural landscape. The pronounced pivot towards biorational pesticides amid stringent regulatory reforms underscores an ardent commitment to fostering a safer, greener future in pest management practices within North America.
List of Some of the Key Players Mentioned in the Report:
- BASF SE (Germany)
- Bayer AG (Germany)
- UPL (India)
- FMC Corporation (US)
- Syngenta AG (Switzerland)
- Novozymes A/S (Denmark)
- Sumitomo Chemical Co., Ltd (Japan)
- Pro Farm Group Inc (US)
- Koppert (Netherlands)
- Valent BioSciences LLC (US)
