In terms of revenue, the Global Biorationals Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 9.7% from 2023 to 2030.
The global Biorationals market has witnessed significant growth in recent years, driven by the consumer demand for organic and sustainable agricultural practices. Biorational products are seen as a safer and more sustainable option compared to traditional chemical pesticides and herbicides. They are also often used in integrated pest management (IPM) systems, which aim to minimize chemical use through multiple control methods. The market's main types of biorational products include biopesticides, bio fungicides, and bioherbicides. Biopesticides are used to control pests, including insects, mites, and nematodes, while biofungicides are used for the prevention and control of fungal diseases. Bioherbicides, on the other hand, are used to control unwanted weeds. The global Biorationals market is mainly driven by the increasing demand for natural food products as consumers become more conscious of synthetic chemicals' environmental and health impacts. Government regulations and incentives promoting sustainable agricultural practices have also contributed to the market's growth.
Key Highlights from the Report
· Among the Product segment, the botanical market segment is anticipated to dominate the Biorationals market with the largest market share in the forecast period,considering its increasing demand from emerging economies of Asia Pacific, such as India and China.
· By Crop, the Fruits & Vegetables market segment accounted for the maximum CAGR during the forecast period because of an increasing demand for organic fruits and vegetables worldwide, driven by health-conscious consumers.
· In terms of Region, North America held the significant market share in 2022 and is likely to be the most gainful market in the future. Elements, including the well-developed agriculture sector with a high demand for sustainable and eco-friendly pest control solutions, are aiding this market expansion.
The Biorationals market refers to the demand for biorational products, which are pest control solutions derived from natural sources and have a lower environmental impact than conventional chemical pesticides. These products target specific pests while minimizing harm to non-target organisms, such as beneficial insects, birds, and mammals. Some common examples of biorational products include botanical insecticides, microbial pesticides, pheromone traps, and insect growth regulators. These products are often used in integrated pest management (IPM) programs, which aim to minimize pesticide use by combining multiple strategies for pest control, such as biological control, cultural practices, and biorational products.
The COVID-19 outbreak has significantly impacted the global Biorationals market. Lockdown measures and disruptions in supply chains have affected both the demand for and production of biorational products. However, there has been a notable increase in interest in organic and natural pest and disease management solutions, leading to a surge in demand for biorational products. Despite production and distribution challenges due to trade and transportation restrictions, the market is expected to recover and experience growth in the coming years as the world gradually emerges from the pandemic.
The global Biorationals market faces several obstacles, including a need for knowledge and acceptance of biorational products, elevated prices compared to conventional pesticides, regulatory difficulties across different regions, and scarcity of effective biorational solutions for specific pests and crop varieties.
North America Biorationals market is expected to witness a noteworthy development with a significant growth rate over the analysis period. Notable industry participants like Koppert B.V., Bayer AG, Isagro S.P.A, Gowan Company LLC, and Summit Chemicals Company are anticipated to accelerate market growth in the area. The strict regulations and guidelines regarding chemical pesticides in North America have also fueled the demand for biorational products. Additionally, the growing organic agriculture industry in the region has further contributed to the market's growth. The United States and Canada are the major contributors to the North American Biorationals market, with a strong focus on sustainable farming practices. The market is expected to grow in the coming years as more farmers and consumers embrace eco-friendly pest control solutions.
The Global Biorationals Market is Segmented as follows
- Other Products
- Fruits & Vegetables
- Other Crops
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Biorationals Market is
Koppert B.V. (Netherlands), Bayer AG (Germany), Isagro S.P.A. (Italy), Gowan Company LLC (U.S.), Summit Chemicals Company (U.S.), Suterra LLC (U.S.), Russell IPM (UK), Agralan Ltd. (UK), BASF SE (Germany), Syngenta (Switzerland), Monsanto (U.S.), CropScience (Germany), Chemtura Corp. (U.S.), DuPont – The Chemical Company (U.S.), Nufarm (Australia)
The Global Biorationals Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|