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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Biorationals Market Size
The global biorationals market reached a value of about USD 2.49 billion in 2023. The industry is further expected to grow at a CAGR of about 11.50% in the forecast period of 2024-2032 to reach a value of around USD 6.62 billion by 2032.
North America and Asia Pacific to be Significant Regional Markets for Biorationals
North America dominated the global biorationals industry. A stringent regulatory framework against synthetic pesticides is contributing tremendously toward product penetration in the region. Food processors are adopting various agri-business initiatives and farming enterprises to address growing concerns regarding food security. Ongoing industrialisation of the food system, particularly in the United States and Canada, minimal environmental impact, and an increase in investments for enhancing crop yield rates are anticipated to drive investments for enhancing crop yield rates with minimal environmental impact.
The Asia Pacific region is expected to witness significant growth during the forecast period because of the presence of organic producers and stringent regulatory norms in the region. The rise in modern agricultural practices in countries such as India and China is expected to boost the demand for biorational pesticides. Rising demand for low priced and high-quality organic commodities from India, China, and Mexico has forced crop producers to enhance their productivity and minimise losses associated with pests. This has resulted in several agro producers to utilise biorationals that improve crop yield, hence gaining a competitive edge over other entities in the market.
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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