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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Growing Adoption of Innovative Pest Management Augmenting the Market Growth
Over the forecast period, increased adoption of integrated pest management is likely to drive industry growth. The harmful effects of synthetic pesticides on beneficial species in farming and terrestrial ecosystems have created plenty of opportunities for bio-based products. The factors that propel the market growth of biorationals include high demand for bio-based products as a substitute to synthetic pesticides, increasing concern toward food safety with the help of supportable strategies, developing farming technology and practices, and advancement by government administrations. The growing demand for residue-free organic crops, and the increased use of environmentally friendly conventional technology, are driving this sector. Also, harmful synthetic pesticides sprayed on vegetables could disrupt the human body's endocrine system, thereby boosting the demand for the global biorationals market. In addition, deviating consumer trends toward natural and organic crop stress management products act as another augmenting factor for market growth. A surge in investment in agricultural activities and market potential in developing countries extends profitable opportunities to the key players in the forecast period.
Biorationals Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global biorationals market attained a value of nearly USD 2.49 billion.
The market is projected to grow at a CAGR of 11.50% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 6.62 billion by 2032.
The major drivers of the market include the industrialisation of the food system, rise in modern agricultural practices, increasing concern toward food safety, developing farming technology and practices, advancement by government administrations, growing demand for residue-free organic crops, increased use of environmentally friendly conventional technology and surge in investment in agricultural activities.
The increased adoption of integrated pest management and high demand for bio-based products are the key industry trends propelling the growth of the market.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various sources are botanicals and semiochemicals, among others.
Based on crop type, the market is divided into cereals and grains, fruits and vegetables, among others.
The various types of biorationals are pesticides, herbicides, and plant growth regulators, among others. Pesticides are further divided into insecticides, fungicides, and nematicides.
By formulation, the market is segmented into liquid and dry.
The various modes of applications are foliar spray, soil treatment, and trunk injection, among others.
The end-uses of the market are forestry, agriculture, public health, and aquaculture, among others.
The major players in the industry are Suterra LLC, Russell IPM Ltd., McLaughlin Gormley King Company, BASF SE, Gowan Crop Protection Limited, and Summit Chemical Co., among others.
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