New York, June 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biocontrol Global Market Report 2023" - https://www.reportlinker.com/p06466643/?utm_source=GNW
, Symbiota Inc., Precision Laboratories LLC, Verdesian Life Sciences LLC, Valent Biosciences LLC, Biobest Group NV, FMC Corporation, Shin-Etsu Chemical Co. Ltd., Suterra LLC, Marrone Bio Innovations, Corteva Agriscience, Isagro S.PA, Russell IPM, and Certis USA LLC.
The global biocontrol market is expected to grow from $5.14 billion in 2022 to $6.03 billion in 2023 at a compound annual growth rate (CAGR) of 17.39%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $11.20 billion in 2027 at a CAGR of 16.74%.
The biocontrol market consists of sales of biopesticides, bioinsecticides, biofungicides, and other microbial products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Biocontrol refers to the use of living organisms or their products to control pests or diseases that can harm crops and livestock. It is commonly used to reduce the damage caused by pests and diseases and to minimize the use of synthetic chemicals that can harm non-target organisms and the environment.
North America was the largest region in the biocontrol market in 2022. The regions covered in the biocontrol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of biopesticides include bioinsecticides, biofungicides, bionematicides, bioherbicides and others.Bioinsecticides are a type of biopesticides that use naturally occurring substances, such as bacteria, fungi, viruses and plant extracts, to control insect pests in agricultural crops and other settings.
They are used for crop types such as grains and cereals, oilseeds and pulses, fruits and vegetables and others and by mode of treatment such as soil treatment, seed treatment, foliar spray, post-harvest and others.
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.
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 March 2020, a Germany-based pharmaceutical and life sciences company launched its first biofungicide product called Serenade.Serenade is designed to provide sustainable protection against fungal diseases in crops.
This innovative product provides long-lasting protection against fungal diseases, with a residual effect of up to 14 days.
In October 2020, Syngenta, a Switzerland-based agriculture company acquired Valagro for an undisclosed amount.This acquisition was aimed at Syngenta’s long-term strategy of expanding its product portfolio and strengthening its position in the biostimulant market.
This acquisition also aimed to allow Syngenta to access Valagro’s global distribution network. Valagro is an Italy-based firm, specialized in the development and production of biostimulants and specialty nutrients that are used in the agriculture industry.
The countries covered in the biocontrol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The biocontrol market research report is one of a series of new reports that provides biocontrol market statistics, including biocontrol industry global market size, regional shares, competitors with biocontrol market share, detailed biocontrol market segments, market trends and opportunities, and any further data you may need to thrive in the biocontrol industry. This biocontrol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466643/?utm_source=GNW
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