The global biocontrol market is estimated to be valued at USD 6.6 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 15.8% during the forecast period. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global biocontrol market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The need for biocontrol crop protection solutions in the agricultural sector has been greatly increased by the surge in demand and preference for organic food products, pest resistance management, residue management, and environmental restrictions. ,Biopesticides and semiochemicals are safer alternatives to conventional chemical-based pesticides.
Europe is projected to reach USD 4,292.8 million during the forecast period.
According to estimates, Europe will hold a market share of 30.4% of the worldwide biocontrol industry in 2022. The Farm to Fork Strategy and proposals like a 50% reduction in chemical pesticides by 2030, which ensure environmental sustainability and food safety, are driving forces behind the European biocontrol sector. Since European consumers are also well-informed, there is a huge demand for organic food products. In the application of biopesticides and semiochemicals, Europe has an advantage over other regions due to its excellent technological infrastructure. As a result, the market is anticipated to experience the fastest rate of growth over the projection period, expanding to USD 4,292.8 million by 2027.
North America dominated the market, with a value of USD 2,597.3 million in 2022; it is anticipated to grow at a CAGR of 16.1% and reach USD 5,472.3 million by 2027
In 2022, North America's share of the worldwide biocontrol market was estimated to be 39.5%. US, Canada, and Mexico are among the North American nations taken into account for the study of biocontrol market. One of the main factors influencing the market adoption of biocontrol is the loss of conventional products due to registration or product performance concerns. Research is a major area of concentration for many important companies, including Corteva Agriscience, FMC Corporation, and Marrone Bio Innovations.
In terms of the end-use application industry, there is no stand-out trend. However, foliar sprays in the biopesticides segment and traps in the semiochemicals segment are projected to witness the fastest growth.
The key players in this market include BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), and Corteva Agriscience (US).