Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The Biocontrol Market is estimated to be valued at USD 6.6 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 15.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global biocontrol market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The need for biocontrol crop protection solutions in the agricultural sector has been greatly increased by the surge in demand and preference for organic food products, pest resistance management, residue management, and environmental restrictions. Biopesticides and semiochemicals are safer alternatives to conventional chemical-based pesticides.
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A wide variety of biocontrol products are available in the North American market offered by Marrone Bio Innovations.
The organic market is expanding quickly. According to a FiBL survey on organic farming conducted in 2020, there has been an increase in the amount of organic farmland by 3 million hectares (4.1%), the number of organic farmers, and the sale of organic goods. The market for biocontrol in North America is expanding as a result of the growing acceptance of organic products due to their alleged health benefits, environmental legislation, pest resistance management, and residue management. Because of this, Marrone Bio Innovations, a US-based company, invests heavily in its R&D and provides a variety of biopesticides.It is notable to observe that, the company also has commercialized bioherbicides such as MBI-006, which gives it a competitive edge over other players that miss the product in their offerings.
Semiochemicals market is a relatively untapped and small market in comparison to biopesticides segment
Semiochemicals are relatively less commercialized than biopesticides in the market. This is due to consumer perception that semiochemicals are comparatively less effective. However, the segment is gradually paving its way in the biocontrol market. Extensive research on developing semiochemical based crop protection solutions are undertaken by companies to tap the segment’s potential. Several recent strategic initiatives such as, FMC’s acquisition of BioPhero Aps (Denmark), a pheromone research and production company, and Syngenta AG’s collaboration with France based pheromone solutions technology provider M2i Life Sciences are evident that the key players are investing in the niche market and semiochemicals market will grow at a significant rate in the coming future.
During the forecast period, the segment for fruits and vegetables is expected to increase at the highest CAGR of 16.2%.
High-value specialty crops like fruits and vegetables are often produced in greenhouses and open fields. Due to the increase in health conscious consumers in recent years, the demand for healthy, organic foods like fruits and vegetables has increased, which has led to a change in crop production to specialty crops. Crop farmers profit more from high value crops. Input into agriculture is therefore consistently greater. Along with biopesticides, several pheromone-based solutions are also majorly used in the crop type due to the semiochemicals’ efficacy to control pests in fruits and vegetables. Fruits and vegetables are also the most exported crop types in the organic sector. Thus, to comply with import regulations especially in the North American and European countries, fruits and vegetables segment consume a large share of biocontrol and the demand is projected to grow at the fastest rate during the forecast period.
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Europe is projected to reach USD 4,292.8 million during the forecast period.
According to estimates, Europe will hold a market share of 30.4% of the worldwide biocontrol industry in 2022. The Farm to Fork Strategy and proposals like a 50% reduction in chemical pesticides by 2030, which ensure environmental sustainability and food safety, are driving forces behind the European biocontrol sector. Since European consumers are also well-informed, there is a huge demand for organic food products. In the application of biopesticides and semiochemicals, Europe has an advantage over other regions due to its excellent technological infrastructure. As a result, the market is anticipated to experience the fastest rate of growth over the projection period, expanding to USD 4,292.8 million by 2027.
The key players in this market include BASF SE(Germany), Bayer AG (Germany), and Syngenta AG (Switzerland).
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