Biocontrol Agents Market is on Track to Reach $13,634.3 Million by 2030, says P&S Intelligence
NEW YORK, July 18, 2022 /PRNewswire/ — According to the latest market research study published by P&S Intelligence, in 2021, the global biocontrol agents market had a $4,851.7 million value, which is on the track to touching $13,634.3 million by 2030, at a 12.2% CAGR. The market is growing due to the rising preference for biological solutions over chemical-based crop protection products. Additionally, biocontrol agents are safe for the environment, do not harm people, and work all year round.
Agrochemical companies are actively engaged in collaborations to address the rising demand for biopesticides. For example, a collaboration agreement was signed in May 2022 between Chr. Hansen Holding A/S and UPL Limited to provide ZOATIN, a novel bio-solution that efficiently supports plant absorption and usage of phosphorus, to enhance crop health and output.
Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/biocontrol-agents-market/report-sample
Key Observation Points in Biocontrol Agents Market Report
- The microbials category, which accounts for almost 60% of the biocontrol agents market revenue, is predicted to grow at the highest rate. This is due to the incredible capacity of microorganisms to remove pests from crops and increase the yield.
- Furthermore, unlike conventional pesticides, which have the potential to kill other organisms, including birds, insects, and mammals, microbicides often only hurt the target pests and those creatures that are closely related to them.
- Additionally, people are rapidly embracing the concept of organic farming. For instance, the percentage increase in organic farming area relative to the total land under organic cultivation in the U.K. rose by 34% in 2021 over the previous year.
- Based on crop type, the cereals & grains category holds a 40% share in the market. This is partly because of the high need for cereals and grains from the increasing global population.
- The on-field category has the biggest share of the biocontrol agents market. Spraying biocides during the crop growing period is considered the most-effective way of ensuring healthy produce, which, combined with the benefits of such organic agrochemicals, continues to drive their usage.
- In 2021, North America contributed more than 30% of the revenue to biocontrol agent manufacturers. This is because of the huge acreage of fertile lands, growing market for organic products, and rising awareness of people of microbial pesticides.
Furthermore, the highly established agriculture industry in the U.S. has just started to transition to organic and natural farming techniques, including biopesticides. For example, a source claims that in 2021, the need for organic farming increased by almost 30% in the country.
Browse detailed report on Biocontrol Agents Market Growth Analysis, Opportunities, Trends, Developments, and Forecast to 2030
To diversify their product offerings and increase their market share, major companies in the biocontrol agents market have been aggressively conducting R&D. These companies are Viridaxis S.A., UPL Limited, Nufarm, Corteva Agriscience, Marrone Bio Innovations, Biobest Group NV, Syngenta Crop Protection AG, Bayer AG, Novozymes A/S, and BASF SE.
Biocontrol Agents Market Report Coverage
By Active Substance
- Entomopathogenic Nematodes
By Crop Type
- Cereals & Grains
- Vegetables & Fruits
- Pulses & Oilseeds
By Target Pest
- Seed Treatment
- North America
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
Browse More Reports Published by P&S
Seed Treatment Market Size and Share Analysis by Product Type, Crop Type, Application Method, Application Time – Industry Growth Forecast to 2030
Crop Protection Chemicals Market Size and Share Analysis by Type, Application – Industry Growth Forecast to 2030
About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Email: [email protected]
Follow Us: LinkedIn Twitter
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.