IMARC Group's latest report, titled "Biorationals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global biorationals market size reached US$ 4.5 Billion in 2022. Biorationals, derived from natural and biological sources, are substances or products with a low environmental impact, including botanicals, microbials, minerals, synthetics, bio-stimulants, and soil conditioners. They are an alternative control agent to pesticides and antimicrobials for maximizing productivity, quality, and sustainability in agricultural production systems, disease vector management systems, and industrial and residential settings. In addition, they are an eco-friendly solution for improving crop yield and maintaining plant health without harming the environment. At present, biorationals find extensive applications in agriculture, public health, forest health, aquaculture, turf, structural pest control, and home and garden across the globe to manage crop stress, enhance plant physiology, and promote root growth.
Global Biorationals Market Trends:
The rising shortage of food due to the increasing global population, changing climatic conditions, and decreasing arable land area represents the primary factor driving the market growth. Moreover, the rising use of biorationals to minimize crop loss and improve overall crop yield in agriculture is positively influencing the market growth. Additionally, the surging adoption of biopesticides owing to rising awareness among individuals about the harmful effects of chemical pesticides on the environment and food chain has catalyzed market growth. Along with this, the escalating demand for biorationals activities due to rising health concerns in crops and fruits regarding their yield and residue left from synthetic insecticide spraying is another major growth-inducing factor. Furthermore, several favorable initiatives taken by governments of numerous countries to promote the use of integrated pest management strategies, including the selective use of products that preserve the ecological health of farms, minimize adverse effects on beneficial insects, and detect pests early, are propelling the market growth. Other factors, including the surging adoption of the green crop protection concept, rising preference for sustainable farming practices, and the implementation of stringent regulations for maximum residue limits, are also anticipated to create a positive market outlook. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, expanding at a CAGR of 7.4% during 2023-2028.
- Based on the source, the market has been divided into botanicals, semiochemicals, and others.
- On the basis of the type, the market has been segmented into pesticides, insecticides, fungicides, nematicides, herbicides, plant growth regulators, and others.
- The market has been categorized based on the crop type into cereals and grains, fruits and vegetables, and others.
- Based on the formulation, the market has been bifurcated into liquid and dry.
- On the basis of the application, the market has been classified into foliar spray, soil treatment, trunk injection, and others.
- Based on the end user, the market has been divided into forestry, agriculture, public health, aquaculture, and others.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being BASF SE, Bayer AG, Gowan Company LLC, Institute of Natural Organic Agriculture (INORA), Isagro S.p.A., Koppert B.V., Marrone Bio Innovations Inc., Rentokil Initial plc, Russell IPM Ltd., Sumitomo Chemical Co. Ltd., Summit Chemical Company, and The Wonderful Company LLC.
|Base Year of the Analysis
||Source, Type, Crop Type, Formulation, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BASF SE, Bayer AG, Gowan Company LLC, Institute of Natural Organic Agriculture (INORA), Isagro S.p.A., Koppert B.V., Marrone Bio Innovations Inc., Rentokil Initial plc, Russell IPM Ltd., Sumitomo Chemical Co. Ltd., Summit Chemical Company and The Wonderful Company LLC.
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