DUBLIN, July 6, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Biorational Product Market, Analysis and Forecast 2017-2023" report to their offering.
The biorational product market, which generated $2,275.00 million of revenue in the year 2016 is expected to grow at a CAGR of 21.5% from 2017 to 2023. This growth is attributed to the increasing demand for integrated pest management (IPM) techniques and adoption of green crop protection concept. Moreover, the increasing demand for organic food products among consumers is driving the growth of the market.
Plant and crop protection has become one of the key concerns while meeting the never ending food demand globally. Weed Science Society of America (WSSA) has summarized the crop losses due to weeds and pests across the globe and has stated the annual potential loss in value for corn and soybean is $27 billion and $16 billion respectively, based on the data from 2007 to 2013. In the past, such cases has resulted in the loss of around 20-40% of the agricultural productivity. Identifying this current demand of crop/ plant safety, companies have come up with the biorational products, which assist in maximizing the quality, productivity, and sustainability in agricultural production systems, disease vector management in public health systems, and in other industrial and residential areas.
Biorational products are the insecticides that are comparatively non-toxic to human beings with minimal environmental side-effects. These are typically derived from natural and organic origins which includes biological pesticides as well as products used for crop stress management, enhanced plant physiology benefits, and root growth management. While biorational products have been around for many years now, the market has experienced its most significant period of growth in terms of both revenue and consumer acceptance over the past five years. These products are now being widely used in structural pest control, agriculture, public health, forestry, turf, and aquaculture, among others.
Increasing adoption of the green crop protection concept across the globe is driving the demand of biorational products, since these are important for managing the increasing concern over pesticide residues on food and the problem of pest resistance. Significant lowering of maximum residue limit (MRLs) by regulators in many countries is a trend that is expected to continue. Additionally, biorational products are a valuable option because these provide sustainability, crop quality and harvest flexibility benefits. The companies present in biorational product market across the globe has launched a wide range of products, and has adjusted the market arrangement by entering into numerous agreements, collaborations, and partnerships to improve their market presence. It is expected that by 2020 more traditional agrochemical companies will enter the biorational industry and resources will consolidate further.
The biorational product market is expected to progress at a substantial rate due to the ever growing demand for food safety.
The growth for this market is being driven by the factors such as:
- Increasing adaptation of integrated pest management
- Adverse impact of synthetic pesticides has improved the scope for biorational products
- Increasing demand for organic food products
- Awareness regarding the hazardous effects of chemical pesticides
However, the market consists of certain challenges which are inhibiting the overall growth of the global biorational product market:
- Lack of awareness about biorational products
- Regulatory framework
Key Topics Covered:
1 Report Scope & Methodology
2 Market Dynamics
3 Competitive Insights
4 Industry Analysis
5 Biorational Product Market By Product Type
6 Biorational Product Market By Crop & Non-crop Type
7 Biorational Product Market By Method of Propagation
8 Biorational Product Market by Geography
9 Biorational Product Market: Company Profiles
- Agralan Limited
- BASF SE
- Bayer AG
- Bioworks, Inc.
- E. I. Du Pont Nemours & Company
- Gowan Company LLC
- INORA- Institute of Natural Organic Agriculture
- Isagro S.p.A
- Koppert B.V. The Netherlands
- Maronne Bio Innovations
- Monsanto Company
- Nufarm Limited
- Russell IPM Limited
- Sipcam Agro USA, Inc.
- Sumitomo Chemical Company Limited
- The Dow Chemical Company
- Valent U.S.A Corporation
For more information about this report visit https://www.researchandmarkets.com/research/t5v5m8/global
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SOURCE Research and Markets