Global bioinsecticides to grow at a CAGR of 18.3% from 2016 to 2021

Date:06-29-2016

According  to a newly published report “Bioinsecticides Market - Global Trends & Forecast to 2021”, the bioinsecticides market is estimated to be valued at USD 1.16 Billion in 2015. It is projected to grow at a CAGR of 18.3% from 2016 to 2021, to reach 3.18 Billion by 2021.

The increased level of pest attacks due to climatic changes and rise in demand for biological pest control know-hows result in the growth of the bioinsecticides market. The market is further driven by factors such as technology and product development of innovative bioinsecticides that can be cost effective as well as used on a broad crop portfolio.

Depending upon the type, the bioinsecticides market is led by Bacillusthuringiensis, followed by Beauveria bassiana. Bacillus thuringiensis bioinsecticides are helpful to the crops in a way that they detoxify the soil and fight the root diseases and provide stability to the soil system. Due to these factors, the Bacillus thuringiensis segment dominates the bioinsecticides market. R&D and innovative experiments are conducted by leading players to invent new products to reduce the drastic impact on non-target species and ecosystem.

Among the crop types of bioinsecticides, such as cereals & grains, fruits & vegetables, oilseeds & pulses, and others, the fruits & vegetables segment accounted for the largest market share followed by the others segment in 2015. High demand and trade for exotic fruits & vegetables in the developed countries is the main reason for the growth of bioinsecticides in this segment.

The soil treatment mode of application dominated the bioinsecticides market in 2015, followed by seed treatment. It promotes seed germination and improves soil fertility and nutrient absorbance capacity of the plant. Seed treatment on the other hand improves the immunity level, promoting normal growth and development of the crop.

On the basis of formulation, liquid formulation led the bioinsecticides market followed by dry formulation. Liquid formulations are easily mixed and applicable to all crop types, that save time and cost of crop growers. They are non-abrasive, and visible residues are easily seen on treatment surfaces.

Similarly, on the basis of mode of action, bio-rationals dominated the bioinsecticides in 2015. Bio-rationals affect only the target pests and do not harm other nature-friendly pests. Natural extracts such as neem oil, garlic, pepper, and cinnamon extracts are used as commercial bio-rational products.

North America accounted for the largest market share of bioinsecticides, the U.S. being the fastest growing in the region from 2016 to 2021. Increasing awareness among customers to use organic products and high production of tropical and subtropical fruits & vegetables are some of the factors driving the bioinsecticides market in the region. Bioinsecticide formulations are widely used in North America, as they maintain microbial dormancy and increase the shelf life of biological products.

Lack of awareness and low utilization of bioinsecticides are the restraints for the bioinsecticides market. Several parameters such as culture medium, pH, temperature, and other physiological factors affect the productivity and efficiency of the bioinsecticides products.

The key players include Valent BioSciences Corporation (U.S.), Syngenta AG (Switzerland), and E. I. du Pont de Nemours and Company (U.S.). Other bioinsecticides companies include Bayer CropScience AG (Germany), Koppert B.V. (The Netherlands), and Novozymes A/S (Denmark).