The global BioControl Agents Market is estimated to be valued at US$ 4.87 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
BioControl Agents are alternative to chemical based pesticides used for controlling pests and crop diseases without harming environment. They comprise of microbes like bacteria, fungi and virus that act against pathogenic organisms.
Market key trends:
Agricultural biopesticides are gaining prominence as sustainable crop protection solutions to replace chemical pesticides. Growing consumer demand for organic and residue-free food products is a key factor driving the adoption of biopesticides. Organic crop growers are increasingly relying on biocontrol agents for effective pest management without compromising soil health or product certification. Regulations in many countries further favor the use of biopesticides over chemical pesticides owing to environmental and health safety concerns.
SWOT Analysis:
Strength: BioControl Agents are eco-friendly crop protection alternative and help in improving soil health. They are plant-derived and pose no harm to humans, animals or environment.
Weakness: Low awareness regarding biocontrol agents among farmers. High dependency on climatic conditions for biocontrol agents effectiveness.
Opportunity: Increasing demand for organic and chemical-free foods is prompting farmers to adopt biocontrol measures. Stringent regulations on chemical pesticides provide growth opportunity for biocontrol agents.
Threats: Changes in climatic conditions can reduce effectiveness of certain biocontrol agents. Development of pest resistance towards biocontrol agents.
Key Takeaways:
The global Biocontrol Agents Market is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing requirement for environment-friendly crop protection alternatives.
Regional analysis:
North America dominates the global biocontrol agents market currently. However, Asia Pacific region is expected to witness fastest growth in demand for biocontrol agents during the forecast period due to growth in organic farming in countries such as India and China. Latin America is also emerging as a lucrative market for biocontrol products owing to rising adoption of integrated pest management programmes in Brazil and Argentina.
Key players operating in the BioControl Agents market are BASF SE, Bayer AG, Syngenta AG, FMC Corporation, Novozymes, Koppert Biological Systems, Certis USA LLC, Andermatt Biocontrol AG, Som Phytopharma India Ltd, Valent Biosciences LLC, BioWorks Inc., Marrone Bio Innovations, Monsanto Company, Isagro Group, Camson Biotechnologies Limited, Lallemand Inc., Biobest Group NV, Stockton Group, Rizobacter Argentina S.A., Bioline Agrosciences ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
