Global Biocontrol Market to Grow at a CAGR of 14.8% during Forecast Period
Published | 22 September 2022
The Global Biocontrol market is growing at a high CAGR owing to the increasing world population and the rising demand for food. In addition, accessibility and availability of biocontrol products are driving market growth.
A recent study by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Biocontrol market is anticipated to grow at a CAGR of 14.8% during the forecast period 2022-2028. The Global Biocontrol market is booming due to the increasing world population and the rising demand for food. In addition, accessibility and availability of biocontrol products are driving the market. However, slow response time to control the pest may act as a huge restraining factor for the market growth in upcoming years.
Increasing Population Coupled with Accessibility and Availability of Biocontrol Product Anticipated to Drive Market Growth
According to a recent demographics study, there will be an increase in the number of people globally by around 2 billion by the year 2050. Population growth is occurring all over the world, and the existing population of 7.7 billion equals a total population of 9.7 billion. As a result of the demand for food from these individuals, governments will take steps to prioritize food security. Additionally, compared to other synthetic agrochemicals, biocontrol agents are safe for the environment, have no adverse effects on humans, and are effective all year, making them an ideal choice and thereby driving the market.
Elements like accessibility and availability are driving the market for biocontrol agents. Since biocontrol agents are affordable and effective all year round compared to other chemicals like herbicides and insecticides, their use will undoubtedly increase in the years to come. Growing awareness of food contamination caused by various contaminants is boosting the demand for biocontrol agents. Due to their lower cost than pesticides, biocontrol agents are becoming more and more popular, which is fostering the market's expansion.
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Slow Response Time to Control the Pest is the key Challenge in the Operation of Biocontrol in the Industry.
The challenge facing the biocontrol market is slow response time to control the pest as parasitized organisms may take several days to perish, and it takes time for predators to reach a level of economic pest eradication. The biological agents must be used over an extended period of time in order to have any effect on a pest population; in contrast, insecticides operate quickly. The benefit of this is the lasting impact that biological regulation has. Compared to the majority of chemical pesticides, these pest management measures take longer to reduce the population. Even if biocontrol product is less expensive in the long term, establishing a biological control system is expensive. All these factors collectively act as a challenge for the biocontrol market.
On-Field Category Had the Biggest Market Share in Global Biocontrol Application Segment
The market for biocontrol agents is divided based on applications into seed treatment, post-harvest, and on-field. Due to the removal of some chemical pesticides and the safety of on-field spraying, which is how most farmers utilize biocontrol agents to boost crop output, the on-field category had the biggest market share. The seed treatment category held the second-largest market share, as they function as a bio stimulant, reduce biotic stress, and combat plant diseases, increasing agricultural production. By the end of 2017, there were over 2.9 million organic producers worldwide and 69.8 million hectares of organic farming, according to IFOAM (The International Federation of Organic Agriculture Movements) and FIBL (Research Institute of Organic Agriculture). This demonstrates an increase in organic farming in the area. These products are in extremely high demand from organic farmers, and this pattern is anticipated to increase demand for biocontrol treatments for on-field use in upcoming years too.
Europe Has Been Expanding Significantly In The Global Biocontrol Market After The Implementation of the European Commission's (EC)
North America catered the major share of the global biocontrol market due to farmers' wide acceptance and awareness of biocontrol products. The European Biocontrol agents market has been expanding significantly after the European Commission's (EC) implementation. The highest demand share in Europe is highly associated with growing awareness of chemical hazards to the environment and humans and consumer's preference towards organic products. Additionally, Europe has several high-quality product manufacturers, such as Syngenta, Biobest, BASF SE, Koppert biological systems, etc., catering to the regional demand. Some key growth drivers for the market include safer and sustainable crop protection technologies and political and societal pressure for greener practices. Due to the existence of several farmers, Germany, Spain, France, the U.K., and Spain will hold a substantial market share across the European region.
Impact of COVID-19 on Global Biocontrol Market
Farmers' pest management techniques for inundative biological control rely on routine introductions of advantageous insects and mites, living animals with limited shelf life. Rapid border crossing and efficient logistics are necessary for the logistics to supply these animals. During COVID-19, logistics were disrupted by a lack of staff, resulting in some shortages and delays. Prior to the approval of any plant protection products (PPP), the authorization procedure is typically drawn out and necessitates numerous interactions between the producer and national regulatory agencies. Following the adoption of Regulation 1107/2009/EEC on the marketing of PPPs, holds in the EU (European Commission, 2009b). The COVID-19 pandemic slowed down regulatory processes, which led to losses as a result of delayed crop protection operations brought on by workforce scarcity.
Key players operating in the Global Biocontrol market are BASF SE, Syngenta Ag, Cropscience Bayer Ag, Biobest N.V., Novozymes, Koppert Biological Systems, Andermatt Biocontrol AG, Valent Bioscience Ag., Bayer CropScience AG, Advanced Biological Marketing, Marrone Bio Innovations, Inc., Monsanto Company Inc., Certis, Andermatt Biocontrol AG, and other prominent players. The Global Biocontrol market is fragmented due to the easy product registration and low capital investment, making it easy for new entrants to enter the market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and statistics of the Global Biocontrol market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Biocontrol market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the market's growth drivers, challenges, and competitive dynamics.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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