Bioinsecticides fall in the category of biological pesticides that are derived from naturally occurring substances like plant/animal extracts, fungi, and bacteria. They repel pathogens and insects through natural mechanisms. Bioinsecticides do not cause harm to the soil, unlike synthetic insecticides. Through the process of soil leaching, the chemicals possessed by synthetic insecticides enter water bodies and in turn become a part of the food chain which causes widespread devastation and disrupts the ecological balance.
The growing demand for organic food substances has been a key driver for this market. Moreover, people are becoming increasingly aware of the pesticide residuals found in food that can have very harmful impacts, therefore, providing this market a further push. The adoption of integrated pest management practices has had a positive impact on market growth. IPM focuses on provided holistic solutions to agronomic problems, it makes sure that the solution employed to enhance the plant’s growth is both economically and ecologically sustainable.
The global market for Bioinsecticides is estimated to have a value of USD 3.7 Billion in 2020 and it is projected to reach a value of USD 15 Billion by 2028. The market is expected to grow with a CAGR of 19.12% during the forecast period 2020-2028. To study this market methodically, it has been segmented based on Type, Form, and Region. North America leads this market followed by Europe. North America dominates the global market owing to the increasing consumer demand for organically grown crops.
Moreover, NA is the largest exporter of organically grown fruits and vegetables therefore in order to meet export standards-government regulations have been promoting the use of sustainable farming methods. APAC is expected to have the fastest growth momentum owing to the increasing population in developing countries like India, China, and Japan. Moreover, there has been a rise in the disposable income that provides the APAC growth segment with a boost. Additionally, food industry-based start-ups in Asia further augments the global market in a positive direction owing to a class of niche food and eateries that in turn increases the demand for organically grown crops.
On the basis of application, it is seen that foliar spray dominates this segment owing to its popularity with respect to application in terms of liquid insecticides. It constitutes for roughly 70% of the global market revenue.
The study period of the report titled, "The Global Bioinsecticides-Market and Technology forecast to 2028
" ranges from 2018-2028, and the forecast period for this market ranges from 2020-2028. This report is segmented based on Type, Form, and Region.
The report is aimed at:
- The key drivers, restraints, and challenges and their effects on the changing trends of the global market have been discussed in detail.
- Future trends concerning upcoming technology and its impact on the global market have been discussed.
- Porter’s five forces and PESTLE analysis has been done for the global Bioinsecticides market.
- The high growth markets within this segment have been discussed in the opportunities chapter.
- The market has been forecasted from 2020-2028 considering all the key factors that are expected to impact the market.
Segmentation covered in this report
The market is segmented based on Type, Form, and Region.
Based organism type:
Based on the region:
- Insects & Mites
- Soils & Insects
Based on Crop type:
- North America
- Latin America
- Middle East & Africa
Oilseeds and Pulses
• Fruits and Vegetables
• Grains and Cereals
Based on the form:
Based on Application:
- Seed Treatment
- Soil Treatment
- Foliar Spray
Reasons to buy:
- United States
- United Kingdom
- The drivers, restraints, and challenges as well as their impacts on the changing market trends can be studied by the new players and the existing ones with the help of this report.
- Existing industries looking for means of expansion can use this report to delve further into this sector and understand the opportunities it provides.
- Competitors in this sector could use this report to understand the strategies used by key players of this market as a reference and develop methodologies of their own.
- Since the forecast period of this report ranges up to the year 2028. Sales teams can use this factor to develop both long term and short term sales targets according to the changing market scenario.
- Methodical market segmentation has been provided in this report for the Bioinsecticides market that could be of use to potential players while studying this sector.
. Who is this report for?
- Technology Innovators: The existing technology can be studied and the grey areas of the same can be recognized and optimized with the help of this report.
- Governments, Associations, and Industrial Bodies: Can use this report to recognize the opportunities this market provides. Moreover, the scope of this industry can be explored by these regulatory bodies with this report.
- Investors and Trade Experts: The hot-spots within this market can be identified and financial investments or funding strategies can be established.
- Sales sectors: The sales teams of companies can use this report to understand the market and its changing trends.