IMARC Group, a leading market research company, has recently releases report titled “Biorationals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biorationals market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Biorationals Market
Biorationals represent low environmental impact substances or products derived from natural or biological origins. Some of the common product types include pesticides, insecticides, herbicides, fungicides, nematicides, plant growth regulators, etc. Biorationals help to enhance plant physiology and manage crop stress and root growth. They are even utilized as an alternative control agent for pesticides and antimicrobials to maximize productivity, sustainability, and quality in agricultural production systems, disease vector management systems, and residential and industrial settings. Consequently, biorationals find extensive applications across several sectors, such as forestry, agriculture, public health, aquaculture, etc.
How Big Is the Biorationals Market?
The global biorationals market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
Global Industry Trends and Drivers:
The growing shortage of food across the globe on account of the expanding global population, the declining arable land area, the altering climatic conditions, and the increasing need to minimize crop loss and increase overall crop yield are primarily driving the biorationals market. Additionally, the elevating awareness among individuals about the harmful effects of chemical pesticides on the food chain and environment and the shifting preferences toward biopesticides are also positively influencing the global market.
Moreover, the launch of favorable policies by government bodies across numerous countries aimed at promoting the adoption of integrated pest management strategies, including early detection of pests employing selective products that ensure control while preserving the ecological health of the farm and reducing adverse effects on beneficial insects is acting as another significant growth-inducing factor. Apart from this, the escalating usage of sustainable farming practices and the emerging trend of the green crop protection concept to lower maximum residue limit (MRLs) are expected to fuel the biorationals market over the forecasted period.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Source:
- Botanicals
- Semiochemicals
- Others
Breakup by Type:
- Pesticides
- Insecticides
- Fungicides
- Nematicides
- Herbicides
- Plant Growth Regulators
- Others
Breakup by Crop Type:
- Cereals and Grains
- Fruits and Vegetables
- Others
Breakup by Formulation:
- Liquid
- Dry
Breakup by Application:
- Foliar Spray
- Soil Treatment
- Trunk Injection
- Others
Breakup by End User:
- Forestry
- Agriculture
- Public Health
- Aquaculture
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are 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.
