Global Biorationals Market - 2022-2029

Global Biorationals Market - 2022-2029

Market Overview

The global biorationals market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Biorationals are insecticides effective against the target pest, but less harmful to natural enemies. Biorationals products are derived from natural and biological origins and include biological pesticides and products used for crop stress management. They help to enhance plant physiology benefits and root growth management. Biorationals are non-toxic to people with fewer environmental side effects. They have fast action and breakdown with less environmental impact. The rise in usage of environmental pest control technologies helps the end-users achieve agriculture sustainability and maximizes the quality of crops.

Market Dynamics: Rising demand for the organic food is expected to drive the biorationals market growth

Organic farming is alternative to conventional techniques to reduce environmental impact and improve human health. The promising growth of organic farming creates new opportunities for the biorationals market. Consumers rising demand for organic fruits and vegetables resulted in the growing demand for the use of biorationals. Countries with strong agriculture bases are gradually transitioning from the green revolution towards the evergreen revolution. The role of agri-bio inputs will be crucial in driving this transformation owing to the ecofriendly use of some bio-based products like biorationals. Biorationals are more effective and place fewer traces on the product. They are made from plant extract and pathogens. Harmful synthetic pesticides sprayed on fruits and vegetables could disrupt the human body's endocrine system costing the demand for the biorationals market. Also, increasing consumers' trend toward organic management products increases the market growth. Pest control technologies enable maximum pest resistance, which makes biorational pesticides favorable among farmers. It has increased the demand for organic products like neem extracts, pheromones, repellents, and essential oils. The rise in government concern towards food security with the help of sustainable strategy is expected to boost the demand for natural pesticides or biorationals over the forecast period.

Market Segmentation: Botanicals segment accounted for the highest share in global biorationals market

In 2021, Botanicals segment had the highest revenue share of over XX percent. Botanicals are the eco-friendly biorational alternative to synthetic pesticides. They are effective against the pest like Aphids, Budworm, Caterpillar, Codling Moth, Leafminer, Spider Mite, Thrips, and Whitefly. They perform a major role in pest management. They leave less residue as compared to synthetic pesticides. Increased demand from the agriculture sector for its residue free property helps to grow the botanicals segment.

The cereals and grains segment are characterized by a high attack of bug disease and subsequent environmental losses. Growing concerns over aphids have urged cereal producers to adopt biocontrol agents such as pheromone traps and semi-chemicals for effective insect control. Increasing concern for the consumption of organic cereals and grains and their health benefits drives the demand for biorationals for the use in cereals and grains.

Geographical Penetration: Asia Pacific is the dominating region during the forecast period

In 2021, Asia Pacific had the highest revenue share of almost XX percent. The surge in biorationals is due to the increasing consumer demand in the Asia Pacific region. Increasing consumer demand for natural & organic ingredients over synthetic products drives the market growth. Rising demand for organic fruit and vegetable production promotes farmers to increase the use of organic products like biorationals. Major developing countries like India and China increased their area of production of organic farming. In India, the organic crop production cultivation area was 4339184.94 ha in 2021. Madhya Pradesh is the leading state for the production of organic crops, with an area of 1637730.46 ha in the year 2021. India is largest exporters of organic fruit and vegetables. India exported 888179.69 metric tons of organic fruits and vegetables in 2021. Moreover, China and Japan exported 436.23 and 1368.73 metric tons of organic produce in the year 2021. Also, increasing demand for low-priced and high-quality organic commodities from the countries like Mexico, India, and China has urged crop producers to enhance productivity and minimize losses associated with pests.

North America also has a high demand for the biorationals. Stringent government regulations for the use of synthetic pesticides help to increase the sales of Biorationals. Food processors are adopting various agri-business initiatives and farming enterprises to address growing concerns regarding food security. Ongoing food system industrialization, particularly in the U.S. and Canada, is anticipated to drive investments for enhancing crop yield rates with minimal environmental impact.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major market players are Bayer AG, Isagro, Summit Chemical Company, Gowan Company LLC, Inora and others. Some major companies follow merger and collaboration strategies to expand their business. For instance, in 2019, UPL completed the acquisition of Arysta LifeScience for 4.2 USD billion. Together they expand their organic business. This acquisition helped to strengthen the company’s position as a significant player in agricultural solutions. Major market players launched new organic products to expand their portfolio. For instance, in March 2021, Bayer Ag launched a new biologic product named Vynyty Citrus to control citrus farm pests. This product is an innovation in the market with a container with an active liquid inside. It is the first product on the market formulated with pheromones and natural pyrethrum to control pests in citrus fruits. Also, in May 2020, Bayer launched a new insecticide, Vayego, to protect against the Colorado potato beetle. It is helpful to control lepidopteran pests in tree fruit and vegetables, with low risk to beneficial insects.

COVID-19 Impact: Negative impact on the global biorationals market

The outbreak of Covid 19 had a significant impact on the food service industry. Sales of biorationals suffered the most during the Covid-19 pandemic due to the closing of specialized stores and other sales channels. The agriculture sector is also badly affected due to the Covid pandemic. The raw materials and supply chain for the production of biorationals is completely closed during a pandemic. Manufacturing companies of agricultural fertilizers and pesticides are closed for a certain period, so there was a shortage of the biorationals in the market. Retail shops were closed during the pandemic, which negatively hampered the market. Import and export of the commodities were completely closed due to the strict government regulations. These factors negatively impacted the market growth. The COVID-19 pandemic has broken most transportation chains and distribution mechanisms between suppliers, production facilities and customers. These factors negatively affected the market.

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