WASHINGTON, Sept. 20, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global Biorationals Market has been rapidly growing over the years due to increasing usage of Biorationals therapy in the crop production industry for boosting resistance against pests and insects owing to their high effectiveness.
According to Vantage Market Research, the global Biorationals Market is estimated to be valued at USD 1.7 Billion by 2030 and is expected to exhibit a CAGR of 9.7% from 2023 to 2030. The global Biorationals market grew to USD 0.9 Billion in 2022.
Biorationals are insecticides, fungicides, and other crop protection tools derived from natural sources and have minimal environmental impact. They are typically based on plant extracts, naturally occurring microorganisms, or insect pheromones. Biorational products target specific pests or diseases while minimizing harm to beneficial organisms and non-target species. They are often used in integrated pest management (IPM) programs and are considered a more sustainable alternative to conventional pesticides. Biorationals can provide effective pest control with reduced environmental risks and may be used in organic farming systems.
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Key Highlights
- The Botanical segment is expected to drive the growth of the Biorationals Market from 2023 to 2030.
- The Fruits & Vegetables segment holds the largest market share in the Biorationals Market globally during the forecast period.
- North America accounted for the highest revenue share in the Biorationals Market in 2022, with a share of 33.5%.
- The Asia Pacific region is projected to experience high growth with a high CAGR from 2023 to 2030.
Countries like the United States have also implemented regulations to restrict the use of certain chemical pesticides, further driving the growth of the Biorational market. For instance, the Environmental Protection Agency (EPA) has encouraged the use of biopesticides derived from natural materials to reduce the use of traditional chemical pesticides. One successful example of a Biorational product is Bacillus thuringiensis (Bt), a naturally occurring species of bacteria that produce proteins toxic to targeted pests. Bt has been widely used worldwide as an alternative to chemical insecticides, particularly in organic farming. It is highly effective against pests like caterpillars and has a low environmental impact.
Top Companies in The Global Biorationals Market
- 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)
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Factors affecting the growth of the Biorationals Industry
Several factors can affect the development of the Biorationals industry. Some of these factors include:
- Increasing demand for organic food: As consumer awareness regarding the adverse side effects of chemical pesticides on human health and the environment has grown, the need for organic food has increased. Biorational products, such as biopesticides and biofertilizers, are essential to organic agriculture. Organic Trade Association Stated that organic food sales in the US have increased from USD 1 billion in 1990 to over USD 50 billion in 2019.
- Stringent regulations on chemical pesticides: Governments worldwide are implementing stricter rules on chemical pesticides, aiming to reduce their adverse impact on nature and public health. For example, the European Union has banned or restricted several chemical pesticides, creating a market opportunity for biopesticides.
- Technological advancements: Biotechnology and molecular biology advances have contributed to developing more effective and targeted biopesticides. For example, genetically engineered crops, such as Bt corn or Bt cotton, produce their biopesticides to control specific pests. Also, formulation technologies have improved biopesticides' stability, efficacy, and shelf-life.
- Mergers and acquisitions: The Biorationals industry is experiencing a trend of mergers and acquisitions as larger agrochemical companies recognize the potential growth in this sector. For instance, in 2020, Syngenta acquired Valagro, while AMVAC acquired Agrinos.
Top Trends in the Global Biorationals Market
The Biorationals market is witnessing significant trends on a global scale. An essential trend is a surging demand for organic products, resulting in higher adoption of Biorational solutions in agriculture. This shift is particularly evident in the increasing popularity of insecticides derived from plant extracts like neem oil. These plant-based solutions effectively combat pests while minimizing harm to the environment. Additionally, there is a notable trend toward developing innovative Biorational solutions, specifically, bio fungicides that effectively address fungal diseases in crops.
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Recent Development of the Global Biorationals Market
- In February 2023, Bayer acquired British medical imaging Al developer Blackford The. As part of a growth strategy, an agreement was made to enhance the digital analysis of medical images captured using Bayer's contrast agents on computed tomography, X-ray, and magnetic resonance scanners.
- In October 2022, Valent BioSciences, a prominent player in Biorational products for farming, public health, and forest health, started directly selling bio-stimulant goods to its U.S. clientele. The organization can now operate the whole U.S. market due to the newly constructed operating unit, founded in February 2022 and fully functioning.
Market Drivers
The rising use of integrated pest control will fuel market expansion during the forecasted period. The adverse effects of chemical pesticides on beneficial species in agriculture and terrestrial ecosystems have unveiled many opportunities for bio-based products. For example, Research by Luis Fernando Esquivel-Cervantes et al., published in 2022, studies the role of Biorational products in preventing the treatment of several diseases in greenhouse agriculture. Using these products is an alternate method of disease management that saves tomato growers while having less of an adverse effect on the environment.
The market for Biorational products is expected to rise during the projected period due to advancements in pest management. The detrimental effects of chemical pesticides on beneficial organisms found in agricultural goods have increased the profit potential for developing bio-based products.
Market Restraints
The Biorational market faces several restraints, including limited awareness among farmers and consumers, higher costs compared to conventional pesticides, and regulatory challenges. According to the National Institutes of Health, Biorational products account for only around 5% of the global pesticide market. For instance, despite their benefits, farmers may hesitate to switch to Biorational products due to their higher prices and unfamiliarity with the consequences.
Market Opportunities
The Biorational industry, which focuses on developing and promoting environmentally friendly pest management solutions, presents several growth opportunities. With an increasing demand for sustainable and non-toxic alternatives to traditional chemical pesticides, the market for Biorational products is expanding. For example, using biological controls such as beneficial insects for crop protection have gained popularity in agriculture. Additionally, the development of biopesticides derived from natural sources like bacteria and fungi provides further opportunities for the Biorational industry to thrive.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Biorationals Market Forecast Report (2023-2030).
Report Segmentation of the Global Biorationals Market
Product Analysis
Botanical dominates the market with the largest share because it offers safer and more sustainable alternatives to synthetic chemicals. The global Biorationals market is based on types segmented into botanical, semiochemicals, and other products. These products have minimal negative impact on non-target organisms and are generally safe for use in organic farming. Additionally, botanicals have effectively controlled a wide range of pests and diseases. Farmers increasingly adopt botanical-based solutions with the rising demand for organic and sustainable farming practices. Additionally, stringent regulations and restrictions on conventional pesticides contribute to the increasing preference for botanicals in the agricultural sector.
Crop Analysis
Fruits and vegetables dominated the most significant share due to an increasing demand for organic fruits and vegetables worldwide, driven by health-conscious consumers. The global Biorationals market is based on crop analysis segmented into fruits and vegetables, cereals, grains, corn, and other crops. Biorational products, such as biopesticides and biostimulants, offer practical and sustainable crop protection and yield enhancement solutions in this segment. Moreover, these products are known for their environmentally friendly nature, minimal impact on non-target organisms, and residue-free produce. The Fruits & Vegetables segment's dominance in the Biorational market reflects the growing preference for sustainable agricultural practices in producing healthy and nutritious fruits and vegetables.
Global Biorationals Market Segmentation
By Product
- Botanical
- Semiochemicals
- Other Products
By Crop
- Fruits & Vegetables
- Cereals
- Grains
- Corn
- Other Crops
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 0.9 Billion |
| Revenue Forecast by 2030 | USD 1.7 Billion |
| CAGR | 9.7% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Koppert B.V., Bayer AG, Isagro S.P.A., Gowan Company LLC, Summit Chemicals Company, Suterra LLC, Russell IPM, Agralan Ltd., BASF SE, Syngenta, Monsanto, CropScience, Chemtura Corp., DuPont – The Chemical Company, Nufarm |
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Regional Analysis
With its advanced technological infrastructure and strong market presence, North America dominated the global market share for Biorationals, with a market share of 33.50% in 2022. The region witnessed a rising demand for environmentally friendly and sustainable agricultural practices, which led to increased adoption of Biorational products. Additionally, stringent regulations on chemical pesticides further boosted the market for Biorationals. North American companies focused on innovation and product development, introducing novel Biorational solutions that appealed to farmers and consumers.
The Asia Pacific market is the most positive due to several possible areas for future enlargement. Various factors, such as increasing awareness about the harmful effects of chemical pesticides, rising demand for organic food, and government initiatives to promote sustainable agriculture practices, are anticipated to boost growth during the projection period. Countries like China, India, and Japan have witnessed a significant shift towards Biorational products due to their effectiveness, safety, and ability to comply with strict environmental regulations.
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