According to The Business Research Company’s Biorational, The biorational market size has grown rapidly in recent years. It will grow from $3.9 billion in 2023 to $4.56 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to increased awareness about environmental concerns , the negative impacts of chemical pesticides , eco-friendly agricultural practices.
The biorational market size is expected to see rapid growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to regulatory support, the push for organic farming, the desire to reduce chemical residues in food. Major trends in the forecast period include advancements in research, increasing adoption of integrated pest management (ipm) strategies, technological advancements, improved formulations.Increasing adoption of integrated pest management is driving the demand for biorational products going forward.
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Integrated Pest Management is a system of managing pests that has been designed to be sustainable. Integrated pest management involves using the best combination of cultural, biological, and chemical measures for particular circumstances, including plant biotechnology as appropriate. The use of biorational products for the management of insect pests has grown intensively, which has increased its popularity. The Government of India has adopted integrated pest management (IPM) as the main plank of plant protection in the Crop Production Programme. For instance, according to the Government of India Ministry of Agriculture and Farmers Welfare, in 2021, crop yield has been increased from 6.72–40.14% in rice and 22.7–26.63% in cotton in integrated pest management fields when compared to non-integrated pest management fields. Therefore, the increasing adoption of integrated pest management will drive the growth of the biorational market.
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The biorational market covered in this report is segmented –
1) Biorational Market By Product Type: Botanicals, Semiochemicals, Other Product Types
2) Biorational Market By Formulation: Liquid, Dry
3) Biorational Market By Crop Type: Cereals and Grains, Fruits and Vegetables, Other Crop Types
4) Biorational Market By Application: Agriculture, Aquaculture, Structural Pest Control, Other Applications
Top Major Players
Technological advancements have emerged as a key trend gaining popularity in the biorational market. Major companies operating in the biorationals sector are focused on introducing innovative technologies for the development of biorationals. For instance, in November 2021, Syngenta Crop Protection, a Switzerland-based company that manufactures bio-rationals, launched PLINAZOLIN technology, setting a new standard in innovative insect control. This will help growers protect their crops from a different range of pests. The launch of new technology is a result of an ongoing commitment to invest in the long-term development of innovative and effective solutions that increase crop productivity in an environmentally sustainable and responsible way.
The biorational market report table of contents includes:
1. Executive Summary
2. Biorational Market Characteristics
3. Biorational Market Trends And Strategies
4. Biorational Market – Macro Economic Scenario
5. Global Biorational Market Size and Growth
…..
31. Global Biorational Market Competitive Benchmarking
32. Global Biorational Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Biorational Market
34. Biorational Market Future Outlook and Potential Analysis
35. Appendix
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