IMARC Group has recently released a new research study “Biorationals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the biorationals industry?
The global biorationals market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
What is a Biorationals?
Biorationals refer to low environmental impact products or substances, such as minerals, synthetics, biostimulants, soil conditioners, microbials, and botanicals. They are acquired from biological origins or natural sources, such as pathogens and plant extracts. They are widely used in turf, agriculture, public and forest health, structural pest control, and home and garden applications to manage crop stress and root growth and enhance plant physiology. They are also used as control agents in antimicrobials and pesticides to improve productivity and quality of agricultural production and disease vector management systems. As a result, biorationals are gaining traction among forestry, agriculture, and aquaculture industries across the globe.
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What are the major market drivers in the biorationals market?
The market is primarily driven by the growing food shortage due to the rising global population and altering climatic conditions. In addition, the increasing application of biorationals to preserve useful pests and bacteria on leaves, minimize crop loss, and improve the yield of agricultural products, is contributing to market growth.
Moreover, the growing awareness among individuals regarding the adverse effects of chemical pesticides on the environment represents another major growth-inducing factor. Besides this, the implementation of government initiatives to protect green crops is encouraging manufacturers to produce eco-friendly products and solutions for consumers, which is providing a positive thrust to market growth. Furthermore, the growing inclination toward sustainable farming practices, stringent regulations for lowering maximum residue limit (MRLs), and research and development (R&D) activities conducted by key players are creating a favorable market outlook across the globe.
who are the key players/companies in the biorationals market?
BASF SE, Bayer AG, Gowan Company LLC, Institute of Natural Organic Agriculture (INORA), Isagro S.p.A., Koppert B.V., Marrone Bio Innovations Inc., Rentokil Initial plc, Russell IPM Ltd., Sumitomo Chemical Co. Ltd., Summit Chemical Company and The Wonderful Company LLC
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Source:
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Botanicals
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Semiochemicals
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Others
Breakup by Type:
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Pesticides
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Insecticides
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Fungicides
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Nematicides
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Herbicides
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Plant Growth Regulators
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Others
Breakup by Crop Type:
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Cereals and Grains
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·Fruits and Vegetables
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Others
Breakup by Formulation:
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Liquid
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Dry
Breakup by Application:
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Foliar Spray
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Soil Treatment
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Trunk Injection
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Others
Breakup by End User:
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Forestry
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Agriculture
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Public Health
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Aquaculture
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Others
By Geography:
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North America (United States, Canada)
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Europe (Germany, France, United Kingdom,
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Italy, Spain, Others)
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Asia Pacific (China, Japan, India, Australia,
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Indonesia, Korea, Others)
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Latin America (Brazil, Mexico, Others)
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Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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