Biocontrol agents are beneficial organisms that are used to control pest populations and increase crop production. These agents help in controlling agricultural pests such as insects, weeds, plant diseases and nematodes in a natural way without harming the environment. The demand for biocontrol agents is increasing owing to the need for sustainable and eco-friendly crop protection solutions. The global Biocontrol Agents Market is estimated to be valued at US$ 4.88 billion in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Increasing adoption of organic farming methods: The adoption of organic farming is increasing globally owing to the growing awareness about harmful effects of chemical pesticides and fertilizers. Organic farming promotes the use of biocontrol agents over chemical pest management practices. According to Willer and Lernoud, the global organic agricultural land grew by 2.9 million hectares to reach 71.5 million hectares in 2018. The rising trend of organic farming offers ample growth opportunities for biocontrol agents market during the forecast period.
Porter’s Analysis
Threat of new entrants: The biocontrol agents market requires high R&D investment for product development. In addition, established market players have strong brand recognition which poses barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power owing to availability of alternatives. However, rising demand for eco-friendly products increases buyers' purchasing power.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes. However, support from government encourages suppliers’ growth.
Threat of new substitutes: Moderate threat as alternatives such as chemical pesticides are cheaper but have severe environmental impact limiting their use.
Competitive rivalry: Intense as major players compete on product quality, pricing and innovation to gain market share.
SWOT Analysis
Strengths: Eco-friendly nature and support from government regulations.
Weaknesses: High production costs, long lead times for results.
Opportunities: Increasing organic farming, rise in environmentally conscious consumers.
Threats: Strong competition from integrated pest management, availability of cheaper chemical substitutes.
Key Takeaways
The Global Biocontrol Agents Market Demand is expected to witness high growth at a CAGR of 7% during the forecast period of 2023 to 2030. The market size is projected to increase from US$ 4.88 Bn in 2023 to US$ 8.02 Bn by 2030.
Regional analysis shows North America dominates currently due to stringent regulations against chemical pesticides and rise in organic farmland. Europe follows due to focus on sustainable agriculture. Asia Pacific is fastest growing on back of rapid expansion of agricultural activities and increasing middle-class population demanding chemical-residue free food.
Key players operating in the biocontrol agents market are Linde AG, Air Products & Chemicals, Inc., Praxair, Inc., Air Liquide SA, and Airgas Inc. Major players focus on new product launches and expansion in high growth markets to increase market share.
For more details on the report, Read- https://www.insightprobing.com/biocontrol-agents-market-trends-size-and-share-analysis/
According to the new market research report by IndustryARC titled “BioControl Agents Market: By Active Substance (Microbials, Macrobials,); By Application (Seed Treatment, On-Field); By Environment; By Crop (Cereals & Grains, Vegetables & Fruits); By Target Pest (Arthropods, Weeds, Micro-organisms) -Forecast (2018-2023)”, the market is driven by the growing awareness about biological crop protection products among the farmers.North America continues to lead the market share during 2018-2023:North Americas dominated the global BioControl Agents market with a value share of 38% in 2017.
On-Field application segment held the highest revenue of $460 million in 2017, and is estimated to reach $819 million by 2023 at 10.10% CAGR.In the APAC region, increasing awareness among farmers with regards to the needs of the crops, along with the rapid development of agricultural technologies, has been facilitating the bio control agents market during the forecast period 2018-2023.
Emergence of India as a manufacturing hub offering low-cost platforms as compared to China, offers opportunities related to manufacturing expansion which also eventually helps the companies to tap the growing Asia-Pacific market.
Asia-Pacific is projected to register the highest growth rate of 11.15% CAGR during the forecast period.Selected / Sample Analysis done in the full Report:Value chain for bio-control agents market has been established as an interdependent and complex network, comprising of substance manufacturers, distributors and different groups of crop and non-crop growers.Contract manufacturing, packaging, regulatory bodies and farming communities also play an important role in value addition.
Defining and implementing the R, according to the market trends, and future applications and establishing value chain frameworks accordingly, has made the industry more agile.Increasing surveys helps the market players to develop active ingredients that provide appropriate pest and insect control solutions.Different applications need different set of ingredients, employ various processes, and packaging techniques.Regulatory bodies approve ingredients and substances through thorough analysis to match the environmental conditions related to the safety and environmental impact while being used.
Key Players of the Biocontrol Agents Industry:Bayer CropScience AG and Syngenta AG are analyzed to be the dominant players of bio-control agents market.
