CHICAGO, May 6, 2020 /PRNewswire/ -- According to the new market research report "Bioinsecticides Market by Organism Type (Bacteria Thuringiensis, Beauveria Bassiana, and Metarhizium Anisopliae), Type (Microbials and Macrobials), Mode of Application, Formulation, Crop Type, and Region - Global Trends & Forecast to 2025", published by MarketsandMarkets™, the global Bioinsecticides Market is projected to grow at a CAGR of 15.8% from an estimated value of USD 2.2 billion in 2020 to reach USD 4.6 billion by 2025.
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The bioinsecticides market is driven by factors such as an increase in acceptance of organically grown crops, growth in concerns regarding the hazards of using pesticides, demand for residue-free high-value crops, and gradual phase-out of key active ingredients and government policies that are favoring the implementation of bioinsecticides.
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104 – Tables
47 – Figures
193 – Pages
Fruits & vegetables are estimated to form the most important segment in the bioinsecticides market.
Fruits & vegetables form the fastest-growing segment in the bioinsecticides industry. There is high growth in the cultivation of greenhouse high-value crops. The demand for high-quality crops with no residue and an increase in demand for organic food is driving the market growth. With the increasing cultivation, heavy infestation of insect pests in the crops is witnessed, which deteriorates the quality and overall appearance of the produce. This results in a huge loss of crops, leading to a decline in the economy of the countries, especially those that significantly rely on agriculture. Therefore, farmers have been using the bioinsecticides in combination with conventional chemicals, which has helped them in achieving no residue crops with internationally accepted standards.
Foliar spray is estimated to be the fastest-growing segment in the bioinsecticides market.
Foliar spray is projected to be the largest-growing segment during the forecast period from 2020 to 2025. Foliar spray is widely used across the world, due to its easiness and safety in application. It can be applied to the infected area for fairly quick results when compared to other methods. The handling of bioinsecticides in foliar spray has been seamless for farmers, especially in high-value crops. The long shelf-life of foliar spray formulation demands less maintenance, which is driving the growth of the bioinsecticides market.
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The markets in South America and Asia Pacific to witness tremendous growth during the forecast period.
The increase in agriculture cultivation has led to the use of quality inputs to obtain better crop performance. The need to maintain minimum residual levels in food products and high growth prospects for organic food has been driving the bioinsecticides market in these regions. Stringent regulations in these countries to limit excessive chemical application is also driving the market. The demand for export-quality fruits and vegetables in Europe and North American region has compelled the farmers to take up sustainable solutions in farming. Even the government has aided through the banning of pesticides so that the adoption of biological solutions grows exponentially. Various key companies are investing in these regions to expand the bioinsecticides business strategically.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies in the global bioinsecticides market. These companies include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA LLC (US) Novozymes A/S (Denmark), Marrone Bio Innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India) Valent Biosciences LLC (US), BioWorks Inc. (US) Camson Biotechnologies Ltd (India), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Kan Biosys (India), Futureco Bioscience S.A. (Spain), KilPest India Ltd (India), BioSafe Systems, LLC. (US), Vestaron Corporation (US), and SDS Biotech K.K (Japan), among others.
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