Ladybird attacking Aphids on the endangered plant
The Biocontrol Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biocontrol Global Market Report 2024, The biocontrol market size has grown rapidly in recent years. It will grow from $6.03 billion in 2023 to $7.08 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to growing awareness of environmental impact, regulatory support and compliance, consumer demand for organic products, resistance to chemical pesticides, globalization of agriculture.
The biocontrol market size is expected to see rapid growth in the next few years. It will grow to $12.96 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to continued regulatory emphasis on sustainability, increasing demand for organic and non-gmo products, climate change impacts on pest patterns, focus on precision agriculture, continued resistance to chemical pesticides. Major trends in the forecast period include increasing demand for sustainable agriculture, advancements in biotechnology, stringent regulations on chemical pesticides, rise in organic farming practices, integration of digital technologies.
The rising incidence of pest infestations is expected to propel the growth of the biocontrol market going forward. Pest infestation refers to the presence and rapid multiplication of pests that pose a threat to crops, livestock, or other organisms. The rising incidence of pest infestations is mostly driven by intensive agriculture, urbanization, climate change, ineffective pest management practices, and rapid changes in land use, where biocontrol products are designed to control pests by managing pest populations more sustainably. For instance, in June 2021, according to the Food and Agriculture Organization (FAO), a United Nations Agency, it was estimated that around 40% of global crops in 2021 were destroyed by pests, causing a loss of $220 billion. As a result of climate change, plant pests are becoming more destructive and they are causing increasing threats to food security and the environment. Therefore, the rising incidence of pest infestations will fuel the biocontrol market growth.
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The biocontrol market covered in this report is segmented –
1) By Biopesticides: Bioinsecticides, Biofungicides, Bionematicides, Bioherbicides, Other Biopesticides
2) By Crop Type: Grains and Cereals, Oilseeds and Pulses, Fruits and Vegetables, Other Crop Types
3) By Mode Of Treatment: Soil Treatment, Seed Treatment, Foliar Spray, Post-harvest, Other Modes Of Treatment
Product innovation has emerged as a key trend gaining popularity in the biocontrol market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in in April 2023, Syngenta Group, a Switzerland-based provider of agricultural science and technology launched Recognition herbicide. The herbicide may be used in tank combinations for faster, stronger, and wider-spectrum control, and it can be utilized in broadcast applications. Recognition provides control over forty weeds, including main sedges, dollarweed, clover in St. Augustinegrass, buffalograss, kikuyugrass, and zoysiagrass. Recognization is a novel and interesting control alternative for golf course superintendents, sod farmers, and lawn care operators because its safety on St. Augustinegrass has been positively assessed.
The biocontrol market report table of contents includes:
1. Executive Summary
2. Biocontrol Market Characteristics
3. Biocontrol Market Trends And Strategies
4. Biocontrol Market – Macro Economic Scenario
5. Global Biocontrol Market Size and Growth
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31. Global Biocontrol Market Competitive Benchmarking
32. Global Biocontrol Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biocontrol Market
34. Biocontrol Market Future Outlook and Potential Analysis
35. Appendix
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