The Global Biorational Product Market Size is valued at 7.15 billion in 2023 and is predicted to reach 30.82 billion by the year 2031 at an 20.24% CAGR during the forecast period for 2024-2031.
The insecticides are known as "biorational products" are relatively non-toxic to humans and have little negative impact on the environment. These are primarily obtained from natural and organic sources, including biological insecticides, products for managing crop stress, improved plant physiology advantages, and goods for controlling root growth.
Although biorational goods have been on the market for a while, the market has grown significantly during the past five years in revenue and customer acceptance. Biorational products are in high demand due to the growing concern over pesticide residues in food and the issue of pest resistance, as well as the increasing adoption of the "green crop protection" concept globally.It is anticipated that regulators in many nations will continue significantly cutting maximum residue limits (MRLs). The benefits of sustainability, crop quality, and harvest flexibility make rational goods a worthwhile alternative. To increase their market position, the firms operating in the global biorational product market have introduced a wide range of products and altered the market structure through multiple agreements, collaborations, and partnerships.
Recent Developments:
- In August 2021, Nuseed's Omega-3 Canola Oil, a new dietary component, was unveiled by Nufarm Limited. It has a high omega-3 profile with DHA+EPA and ALA that supports human nutrition. The corporation will improve its market position with this introduction.
- In June 2021, to scale up and hasten its digital transition, Koppert Biological Systems purchased AgriAI, a Dutch artificial intelligence start-up. The biological solutions company's acquisition of AgriAI is a step toward its goal of becoming a leading digital innovator in horticulture and agriculture.
Competitive Landscape:
Some major key players in the biorational product market are:
- Agralan Ltd.
- BASF SE
- Bayer Agrar Germany
- Bioworks, Inc
- Gowan Company LLC
- Inora Biotech Pvt. Ltd.
- Isagro S.P.A
- Koppet Biological Systems
- Monsanto Company
- Nufarm Limited
Market Segmentation:
The biorational product market is segmented on the type and crop type. Based on type, the market is segmented into micronutrient fertilizers, slow-release fertilizers, controlled-release fertilizers, customized fertilizers, water-soluble fertilizers and others. Based on crop type, biorational product market is segmented into pulses and oilseeds, grains and cerals, commercial crops, fruits and vegetables and others.
Based on type, the insecticides segment is accounted as a major contributor to the biorational product market
The water-soluble fertilizers category grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. Using chemical insecticides has raised many serious concerns, such as environmental pollution, degradation, and the loss of fauna that is beneficial to humans. The global agriculture sector is facing significant challenges driven by increasing food demand due to a rapidly growing global population. Given this, there is a great demand for biorational pesticides made from natural sources that do not harm the environment. These insecticides are extensively used since they are less expensive and help to lessen negative ecological effects. These might take the role of traditional insecticides, assuring food security and validating the cost-benefit analysis.
The botanical segment witnessed growth at a rapid rate
The botanical category is anticipated to grow significantly over the forecast period. Natural pesticides generated from plants and animals and have innately protective qualities are known as botanical pesticides. As they are less hazardous to the environment and human health, botanical pesticides are currently used as substitutes for synthetic chemical pesticides. Demand for botanicals is driven by causes such as rising environmental pollution levels brought on by the overuse of chemical pesticides and rising costs of synthetic pesticides. In addition to helping to repair damage from chemical pesticides, these compounds are also used to battle agricultural pests and plant diseases. These elements are anticipated to fuel this segment's revenue growth over the course of the forecast.
The Asia Pacific biorational product market hold a significant revenue share in the region
The Asia Pacific biorational product market is expected to register the highest market share in revenue in the near future due to the region's countries' steadily rising agricultural sector activity and the growing usage of bio-insecticides in crops. Another significant factor propelling the growth of the Asia Pacific biorational product market is the rising demand for healthy organic products.
In addition, North America is projected to grow rapidly in the global biorational product market due to the significant presence of top businesses in the region, including Monsanto Company, Inora Biotech Pvt. Ltd., and BioWorks Inc. The economy and infrastructure in this region are predicted to grow quickly, which will positively impact market revenue. Domestic production and consumption are anticipated to fuel the market growth for biorational products along with increased import and export activity.
Biorational Product Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 7.15 billion |
|
Revenue forecast in 2031 |
USD 30.82 billion |
|
Growth rate CAGR |
CAGR of 20.24% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Type, Crop Type |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Agralan Ltd., BASF SE, Bayer Agrar Germany, Bioworks, Inc, Gowan Company LLC, Inora Biotech Pvt. Ltd., Isagro S.P.A, Koppet Biological Systems, Monsanto Company, Nufarm Limited |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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