In the last three years, the global biorational product market has witnessed various business expansion strategies such as agreements, collaborations, contracts, joint ventures and partnerships from major players in the industry. In 2016, Dow AgroSciences, a subsidiary of the Dow Chemical Company, expanded its research collaboration with Radiant Genomics. This collaboration is aimed towards developing organic and natural products for crop protection. The research and development in the industry have increased the growth of biorational product market.
At the beginning of this year, an agreement between Marrone Bio Innovations and Nufarm Australia Ltd. Was announced which has subsequently helped Nufarm Limited in their expansion plans in the global market. Besides the collaborations and agreements, the market players are also launching new products in the market to gain pace. In December 2016, Valent U.S.A Corporation announced the release of Valor® EZ; a liquid formulation of the company's leading herbicide, Valor.
Another market player, Isagro USA, Inc., signed an agreement in January 2017 to exclusively distribute Taegro 2 Biofungicide in the U.S. and Canada. The BioAg Alliance is a long-term partnership between Monsanto Co. and Novozymes. Taegro 2 provides broad-spectrum protection from major soil-borne and foliar diseases in fruit and vegetable crops.1
Major players in the biorational product market such as Koppert B.V., Marrone Bio Innovations, Monsanto Company, The Dow Chemical Company, Gowan Company LLC, Valent U.S.A. Corporation, Russell IPM limited, Agralan limited, Monsanto Company, Suttera, Syngenta, BASF SE, Isagro S.P.A, and Bayer AG have been in the limelight for the last three years due to agreements, collaborations, contracts, joint ventures and partnerships, and expansion strategies. The market has ample growth potential and needs appropriate environmental regulations for a sustained growth of the market.
Acknowledging the growing demand for biorational products in the market, BIS Research has compiled a report titled ‘Global Biorational Product Market, Analysis and Forecast (2017-2023)’. According to the analyst at BIS Research, “the biorational product market was estimated to be $ 2,275.00 million in the year 2016 and is expected to grow exponentially from 2017 to 2023. This growth is attributed to the increasing demand for integrated pest management (IPM) techniques and adoption of the green crop protection concept. Moreover, the increasing demand for organic food products among consumers is driving the growth of the market.”
This 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, which also focuses on the investments made in the biorational product market by the market participants.