The ‘Global Biorationals Market Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an in-depth analysis of the global biorationals market. It assesses the market based on its segments like source, crop type, type, formulation, mode of application, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Biorationals Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 2 billion
• Forecast CAGR (2022-2028): 11.50%
• Forecast Market Size (2028): USD 3.84 billion
The global biorationals market is primarily driven by the increasing concern for adverse and toxic environmental effects of chemical and synthetic pest control methods from the agricultural sector. The rising innovations and new technological advances for increasing sustainability in agricultural practices owing to the growing population globally are expected to bolster the utilisation of biorationals. Additionally, the growing use of biorationals in various industries such as forestry, agriculture, and aquaculture, among others, is further expected to augment the demand.
Biorational pesticides work well with an integrated pest management strategy. Such strategies emphasise the use of selective products that provide control while protecting the ecological health of the farm and minimise negative effects on beneficial fauna.
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Moreover, new technological innovations and product launches in the market are further expected to provide impetus to the growth of global biorationals market over the forecast period. For instance, a key market player, Sumitomo Chemical Co., Ltd., has strengthened its biorational business for aiding sustainable agriculture. The company, in 2020, announced to increase its research and development activities for expanding the business by opening a new state-of-the-art facility. Further, the company is expected to launch six new biorational products after their registration approvals in 2022.
Biorationals Industry Definition and Major Segments
Biorationals refer to pest control products having natural or biological origins with non-toxicity to human and limited environmental side effects. These products effectively provide enhanced plant physiology benefits, crop stress management, and root growth management, among others. These products find widespread application across various markets including agriculture, structural pest control, forest health, aquaculture, and home and garden markets.
On the basis of source, the market is segmented into:
Based on crop type, the market is classified into:
• Cereals and Grains
• Fruits and Vegetables
The market is segmented on the basis of type into:
• Plant Growth Regulators
Based on formulation, the market is bifurcated into:
Based on mode of application, the market for biorationals is categorised into:
• Foliar Spray
• Soil Treatment
• Trunk Injection
The market is broadly segmented on the basis of end-use into:
• Public Health
The regional markets for biorationals include:
• Asia Pacific
• North America
• Latin America
• Middle East and Africa
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Biorationals Market Trends
North America, over the historic period, dominated the global biorational market owing to the increasing adoption of sustainable agricultural practices and demand for organic and clean label food products. The increasing awareness of consumers and farmers regarding the harmful effects synthetic pesticides is propelling the application of bio rations in the region.
For instance, in June 2022, Valent BioSciences LLC announced that it will significantly expand its biorational manufacturing facility in Osage, Iowa. The expansion will help meet the growing demand for biorational products and the requirement of new products requiring more capacity. The construction is expected to be completed by Q2, 2024, and provide additional capacity for production of products for preserving forests, increasing crop yields, and protecting against vector borne diseases.
Meanwhile, the Asia Pacific market for biorationals grew significantly in the historic years and is projected to witness a similar growth rate over the coming years. The increasing government initiatives to promote biorationals in countries such as China are expected to aid the growth of the market. For instance, in June 2017, the Chinese government revised Regulation on Pesticide Administration (RPA). The RPA changed the regulatory compliances in the country with an aim to reduce utilisation of chemicals in agriculture and develop eco-friendly, green technologies.
Key Market Players
The major players in the market are:
- Suterra LLC
- Russell IPM Ltd.
- McLaughlin Gormley King Company
- BASF SE
- Gowan Crop Protection Limited
- Summit Chemical Co.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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