PUBLISHER: The Business Research Company | PRODUCT CODE: 1414048
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414048
“Biocontrol Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biocontrol market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biocontrol? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The biocontrol market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Biocontrol involves utilizing living organisms or their byproducts to manage pests or diseases that pose threats to crops and livestock. Its primary objective is to mitigate damage caused by these pests and diseases while reducing reliance on synthetic chemicals that can harm both unintended organisms and the environment.
The main types within biocontrol, encompass various categories such as bioinsecticides, biofungicides, bionematicides, bioherbicides, and others. Bioinsecticides specifically rely on naturally occurring substances such as bacteria, fungi, viruses, and plant extracts to regulate insect pests across agricultural crops and diverse settings. These bioinsecticides find application in a wide array of crop types such as grains, cereals, oilseeds, pulses, fruits, vegetables, among others. They are administered through various treatment modes including soil treatment, seed treatment, foliar spray, post-harvest treatment, and other relevant methods.
The biocontrol market research report is one of a series of new reports from The Business Research Company that provides biocontrol market statistics, including biocontrol industry global market size, regional shares, competitors with biocontrol market share, detailed biocontrol market segments, market trends and opportunities, and any further data you may need to thrive in the biocontrol industry. This biocontrol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biocontrol market size has grown rapidly in recent years. It will grow from $6.03 billion in 2023 to $7.08 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth observed in the historical period can be attributed to several key factors. Primarily, there was an increasing awareness regarding the environmental impact of agricultural practices, prompting a shift towards more sustainable pest control methods. Regulatory support and compliance measures also played a crucial role in promoting the adoption of biocontrol methods, encouraging their use in agriculture.
The biocontrol market size is expected to see rapid growth in the next few years. It will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The projected growth in the upcoming period is expected to stem from several key factors. Regulatory emphasis on sustainability is anticipated to persist, further propelling the adoption of biocontrol methods in agriculture. The rising demand for organic and non-GMO products is set to drive the need for pest management strategies aligned with these preferences.
The anticipated surge in pest infestations is poised to be a driving force behind the growth of the biocontrol market. These infestations, stemming from factors such as intensive agriculture, urbanization, climate change, and evolving land use practices, threaten crops, livestock, and ecosystems. Biocontrol products, aimed at managing pest populations sustainably, stand as a vital solution in combating these challenges. For example, the Food and Agriculture Organization (FAO) reported in June 2021 that approximately 40% of global crops were devastated by pests in 2021, resulting in a staggering $220 billion loss. Climate change exacerbates the impact of plant pests, intensifying threats to food security and the environment. Consequently, the escalating incidence of pest infestations is set to propel the growth of the biocontrol market.
The rising inclination towards organic farming is expected to significantly contribute to the biocontrol market's expansion. Organic farming, emphasizing natural and sustainable agricultural practices, aligns with the adoption of biocontrol methods. Offering benefits such as reduced chemical residues, integrated pest management (IPM), and enhanced crop health, biocontrol plays a pivotal role in sustainable pest management within organic farming. As per GOV.UK's data in May 2023, the land farmed organically increased by 0.4% to 509 thousand hectares in 2022 compared to the previous year, underscoring the growing demand for organic farming. This trend notably drives the growth of the biocontrol market.
Innovation emerges as a significant trend shaping the biocontrol market, with key players directing efforts towards product development. Syngenta Group's launch of Recognition herbicide in April 2023 highlights this trend, offering broader control capabilities for numerous weeds in various grasses. This innovation, particularly its safety assessment on St. Augustinegrass, caters to the needs of golf course superintendents, sod farmers, and lawn care operators, positioning itself as a compelling control alternative.
Major companies in the biocontrol domain are focusing on innovative solutions such as training platforms to bolster market revenues. The Bionema Group's launch of a Digital Biocontrol Training Platform in May 2023 stands as a prime example. Tailored for growers, farmers, and pest control professionals, this platform simplifies learning about sustainable pest management practices. Its user-friendly interface and accessibility make it a valuable resource for those seeking insights into biological-based products, showcasing a commitment to driving industry knowledge and expertise.
In March 2023, Albaugh LLC, a US agrochemical firm, completed the acquisition of Corteva Agriscience, a fellow US-based company specializing in agricultural chemicals and seeds. The undisclosed transaction aims to bolster Albaugh's global presence in registrations and formulations of pure glyphosate DMA salt, thereby expanding its portfolio of glyphosate products.
Major companies operating in the biocontrol market report are BASF SE, Bayer AG, Corteva Agriscience, United Phosphorus Limited, Syngenta AG, Koppert Biological Systems BV, BrettYoung Seeds Limited, Certis USA LLC, Chr. Hansen Holding A/S, Marrone Bio Innovations Inc., Symbiota Inc., Precision Laboratories LLC, Verdesian Life Sciences LLC, Valent Biosciences LLC, Biobest Group NV, FMC Corporation, Shin-Etsu Chemical Co. Ltd., Suterra LLC, Isagro S.PA, Russell IPM, Novozymes A/S, Bioworks Inc., Andermatt Group AG, Sumitomo Chemical, Mitsui & Co. Ltd., Nufarm Limited, BioConsortia Inc., Agrauxine, Nippon Soda Co. Ltd., Bion Tech Inc., Phyllom BioProducts, Eagle Plant Protect Pvt. Ltd., e-nema GmbH, Vestaron Corporation, Gowan Company, Cartotecnica CBC Srl., Bioline AgroSciences Ltd.
North America was the largest region in the biocontrol market in 2023. The regions covered in the biocontrol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the biocontrol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The biocontrol market consists of sales of biopesticides, bioinsecticides, biofungicides, and other microbial products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.