Global Biorational Product Market - Analysis and Forecast (2017-2023)

Owing to the to the increasing demand for organic food products and for innovative pest management, the biorational product market is expected to grow at a CAGR of 21.5% through 2017 to 2023. The report is a compilation of the different segments of the global biorational product market, including market breakdown by the product type, crop and non-crop type, method of propagation and different geographical areas. Herein, the revenue generated from the product type, namely: botanical, microbial pesticides, semiochemicals and others; and crop and non-crop type, namely: grains & oilseeds, fruits & vegetables and others and method of propagation, namely: foliar spray, seed treatment, soil treatment and others, are tracked to calculate the overall market size. While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the biorational product market. It also includes the key participants involved in the industry at the relevant sections. 

The report puts special emphasis on the market share of the services provided in the biorational product market, owing to the changing paradigms in the industry. The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. This segment also focuses on the investments done in the biorational product market by the market participants.

The most often used strategy for developing a better hold on to the market has been through agreements/partnerships/collaborations, followed by business expansion. Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies & developmental activities of the recent years. 

Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating in the global biorational product market are Bayer AG, Monsanto Company, Sumitomo Chemical Company, The DoW Chemical Company, DuPont, Marrone Bio Innovations, Syngenta, BASF, Koppert B.V. and BioWorks Inc., among others.

Plant and crop protection has become one of the key concerns while meeting the never ending food demand globally. Weed Science Society of America (WSSA) has summarized the crop losses due to weeds and pests across the globe and has stated the annual potential loss in value for corn and soybean is $27 billion and $16 billion respectively, based on the data from 2007 to 2013. In the past, such cases has resulted in the loss of around 20-40% of the agricultural productivity. Identifying this current demand of crop/ plant safety, companies have come up with the biorational products, which assist in maximizing the quality, productivity, and sustainability in agricultural production systems, disease vector management in public health systems, and in other industrial and residential areas.

Biorational products are the insecticides that are comparatively non-toxic to human beings with minimal environmental side-effects. These are typically derived from natural and organic origins which includes biological pesticides as well as products used for crop stress management, enhanced plant physiology benefits, and root growth management. While biorational products have been around for many years now, the market has experienced its most significant period of growth in terms of both revenue and consumer acceptance over the past five years. These products are now being widely used in structural pest control, agriculture, public health, forestry, turf, and aquaculture, among others.

Increasing adoption of the “green crop protection” concept across the globe is driving the demand of biorational products, since these are important for managing the increasing concern over pesticide residues on food and the problem of pest resistance. Significant lowering of maximum residue limit (MRLs) by regulators in many countries is a trend that is expected to continue. Additionally, biorational products are a valuable option because these provide sustainability, crop quality and harvest flexibility benefits. The companies present in biorational product market across the globe has launched a wide range of products, and has adjusted the market arrangement by entering into numerous agreements, collaborations, and partnerships to improve their market presence. It is expected that by 2020 more traditional agrochemical companies will enter the biorational industry and resources will consolidate further. 

The biorational product market is expected to progress at a substantial rate due to the ever growing demand for food safety. The growth for this market is being driven by the factors such as:

•    Increasing adaptation of integrated pest management
•    Adverse impact of synthetic pesticides has improved the scope for biorational products
•    Increasing demand for organic food products
•    Awareness regarding the hazardous effects of chemical pesticides

However, the market consists of certain challenges which are inhibiting the overall growth of the global biorational product market:

•    Lack of awareness about biorational products
•    Regulatory framework

The biorational product market, which generated $2,275.00 million of revenue in the year 2016 is expected to grow at a CAGR of 21.5% from 2017 to 2023. This growth is attributed to the increasing demand for integrated pest management (IPM) techniques and adoption of green crop protection concept. Moreover, the increasing demand for organic food products among consumers is driving the growth of the market.

The trends of the biorational product varies with the geographical regions. The biorational product market holds a prominent share in various countries such as USA, Germany and China. The competitive landscape for the biorational product market demonstrates an inclination towards companies adopting strategies such as agreements/collaborations/partnerships/joint ventures. 

Koppert B.V., Marrone Bio Innovations, Monsanto Company, The Dow Chemical Company, and Gowan Company LLC, Valent U.S.A. Corporation, Russell IPM limited, Agralan limited, Monsanto Company, Gowan company LLC, Suttera, Syngenta, BASF SE, Isagro S.P.A, and Bayer AG, among others are some of the companies which have remained in limelight in the past 3 years because of agreements, collaborations, contracts, joint ventures & partnerships, and expansions strategies.