Global Bioinsecticides Market anticipates explosive Growth under the forecast period 2016-2022
The research study “Global Bioinsecticides Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” added by DecisionDatabases.com provides a comprehensive market analysis which includes market values, forecasts, as well as a detailed competitive market analysis of major players operational in the industry.
Bioinsecticides are the naturally occurring insecticides, which protect crops by killing or destroying insects without disturbing the ecological balance. Growing popularity of biological pest control along with rising prevalence of pest attacks due to climatic change are major growth factors, which are expected to fuel the bioinsecticides market
demand in the next six years. In addition, recent technological innovation and product development in the field of bioinsecticidal production are likely to augment industry growth over the coming years. Increasing hazardous effects on animals, humans and on the environment due to the prevalence of synthetic pesticides for crop protection are projected to further aid the market growth for bio-insecticides over the forecast period. However, lack of product awareness, less utilization of bioinsecticides and several physiological factors such as pH level, culture medium, and optimum temperature are some of the major aspects that can hamper the market growth of bioinsecticides. These factors, if not used in a balanced proportion, can directly affect the efficiency and productivity of the product, thus may hinder the growth in the near future.
The farming productivity has been majorly dependent on chemical insecticides, which has various rising concerns including its high cost, not being foolproof, propensity to collect in the environment and contaminate waterways implying that their usage can also harm non-target organisms. Thus, the high adoption of bioinsecticides towards pest will further drive the market demand.
The global bio-insecticides market has been segmented based on types into bacillus thuringiensis, beauveria bassiana, verticillium lecanii, and metarhizium anisopliae. The bioinsecticides market has been further segmented based on crop types into cereals & grains, oilseeds & pulses, fruits & vegetables, and others (turf, forage, and plantation & ornamental crops). Furthermore, the bioinsecticides market has been segmented based on the mode of applications, mode of action and on the basis of the formulation.
North America is expected to witness a sluggish growth in the near future owing to the decreasing prevalence of insect infested crops in the region. Europe is expected to show a moderate growth over the coming years on account of 2 years EU ban on the usage of synthetic insecticides, which can further drive the bio-insecticides market in the region. Asia Pacific is anticipated to grow at the fastest rate over the forecast period due to the growing popularity of using less-harmful insecticides along with the rising need for an efficacious solution to control insecticide- resistant pests.
The key players include Certis USA LLC, Bayer CropScience AG, Novozymes A/S., Marrone Bio Innovations Inc., Syngenta AG, Koppert B.V., Bioworks Inc., Agrilife, Valent Biosciences, and Biotech International Ltd. Major industry players are opting for product differentiation and M&A strategies to capture a major part of market share.
The key strategies used by companies in this market are new product registrations and acquisitions to enter new markets. The focus in this industry should be on integrated pest management techniques and sustainable practices for an improved yield without harming the environment.
In April 2014, Marrone Bio Innovations Inc. (MBI) launched a broad spectrum bio-insecticide VENERATE™ to help agriculturist to control harmful insect pests, and reduce pesticide residues on vegetables and fruits.
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