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"Global Bioinsecticides Market was Valued at US$ 2.05 Bn in 2019 and it is Expected to Reach More than US$ 6.91 Bn by 2028, Likely to Grow with the CAGR of 14.4% During the Forecast Period."
Bioinsecticides are organic pesticides applied to crops to kill insects that feed on them. They contain live bacteria that produce toxins that kill insects. These bio-insecticides are composed of animals, bacteria, plants or minerals found in nature.
Bioinsecticides are usually less toxic than conventional chemical insecticides and also highly efficient, with the advantages of being pollution-free, residue-free. While the bioinsecticides are alternatives to chemical pesticides more cost-effective due to this, they are adopted in both organic farming and IPM systems. Increasing government initiatives to promote the use of bioinsecticides across the globe the developing countries have simplified the requirement for the registration of bioinsecticides, without compromising the use of conventional sprays with less pre-harvest duration, is these factors are likely to drive the growth of the market.
Additionally, Favorable government policies and regulations, increased global demand for organic products and the rise in the adoption of organic farming methods are the key factors bolstering the growth of the bioinsecticides market.
Declining arable land availability due to excessive chemical pest controlling practices is encouraging the farming sector towards environment-friendly pest management. Chemical pesticides such as halogenated, carbamate, and organophosphorus are causing water and land contamination and becoming hazardous to humans. Optimum land utilization, longtime land fertility, and better productivity are key factors fueling bioinsecticides demand.
The Liquid Formulation Segment Is Expected To Dominate the Bioinsecticides Market During The Forecast Period
The liquid formulation is largely preferred product type, accounting for over 60.0% of global revenue share in 2019 and this trend is expected to continue over the forecast period.
The liquid formulation of bioinsecticides is easy to handle, transport and store, and also retains potency over a fairly long time, due to which liquid formulation is more preferred than dry formulation. The liquid formulation may be in the form of a water-dispersible powder, wettable powder, emulsifiable concentrate, granules, or dust. The Liquid formulations serve as a better medium to maintain the dormancy of microbial as well as increase the shelf life of products.
The Verticillium Lecanii Segment Is Expected To Witness Highest Growth in the Global Bioinsecticides Market across the Globe
Verticillium lecanii segment is estimated to be the largest product type of bioinsecticides and is projected to grow at the highest rate in the market during the forecast period.
Verticillium Lecanii bioinsecticides detoxify the soil and fight the root diseases and provide stability to the soil system which is helpful to the crops.In addition, they are useful in nitrogen fixation, iron sequestration, phosphate solubilization, and phytohormone-level modulation in crops. These factors are likely to drive the segment in the bioinsecticides market.
The market in North America expected to hold the Largest share in Bioinsecticides Market over the forecast period
North America is anticipated to hold above 35% of the market share in the bioinsecticides market over the forecast period and is expected to grow at a significant rate during the forecast period.
Increasing demand for organic food along stringent food safety regulations led the regional market growth. The stringent regulations by Environmental Protection Agency (EPA) and the rise in organic & environment-friendly farming practices such as integrated pest management (IPM) have increased the demand for bioinsecticides, especially in the U.S. Furthermore the increasing productions of fruits & vegetable crops in countries such as the U.S., Canada, and Mexico is also driving the demand for bioinsecticides in the region. In addition, the market in Canada has been driven by the rise in the cost of fertilizers & pesticides that have led to the high usage of bioinsecticides.
The Asia Pacific Is Expected To Be the Fastest Growing Region for Bioinsecticides Market During Forecast Period
The Asia Pacific accounted for over xx % of global revenue share in 2019 and is expected to be the fastest-growing region with register a CAGR of over 15 % over the forecast period.
An increase in demand for food crops, mainly fruits &vegetables and cereals & grains due to the ever-growing population is fuelling the demand for efficient Bioinsecticides in the region. In addition rise in awareness about the benefits of bio-based pesticides among farmers. The support from local governments in terms of subsidies and awareness programs for educating farmers about the ill-effects of chemical-based pesticides is anticipated to propel the popularity of bioinsecticides in the region.
The bioinsecticides market is dominated by Valent BioSciences Corporation, Marrone Bio Innovations, Bayer CropScience, Certis USA LLC, and E. I. du Pont de Nemours and Company. Some of the key players in the global Bioinsecticides market are BASF SE, Monsanto Company, Koppert Biological Systems, Valent Biosciences, Syngenta, Dupont, Dow Chemical Company,and Novozymes .
Bioinsecticides Market Key Segments:
Bioinsecticides Market, By Type
- Bacillus thuringiensis
- Beauveria bassiana
- Verticillium lecanii
- Metarhizium anisopliae
Bioinsecticides Market, By Formulation
- Liquid formulation
- Dry formulation
Bioinsecticides Market, By Mode of Application
- Soil treatment
- Seed treatment
- Foliar spray
Bioinsecticides Market, By Crop Type
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (turf, ornamentals, and grass)
Bioinsecticides Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America