Biorationals Market Size, Share & Trend Analysis Report by Product (Botanical, Semiochemical) by Crop (Fruits & Vegetables, Cereals, Cereals, Corn), by Region & Segment Forecast, 2023-2030
New York, Jan. 06, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Biorationals Market Size, Share & Trends Analysis Report By Product By Crop, By Region And Segment Forecasts, 2023 – 2030” – https:/ /www.reportlinker.com/p06377963/?utm_source=GNW
Biorationals Market Growth and Trends
The global biorationals market size is estimated to be USD 1,875.4 million by 2030. The market is expected to grow at a CAGR of 9.32% from 2023 to 2030. The growth can be attributed to the growing need for biorationals in high value crops and vegetables. & fruit production
The Asia-Pacific region is estimated to have the highest revenue share of over 32% in 2022. This can be attributed to the growth of plantations of high-value crops in the region for commercial purposes and the increase organic farming practices and the use of bio-pesticides. & biorational for better food quality in developed economies.
The use of biopesticides, biorationals and non-chemicals prevents any residue of hazardous chemicals when using synthetic pesticides from reaching cereals and crops. Developed economies such as the United States and various countries in Europe generally prefer residue-free and organic crops, fruits and vegetables.
The agricultural industry in the Asia-Pacific region is expected to witness substantial growth in the coming years due to the presence of fertile arable land and the continuous demand from a growing population in countries such as China, India , Vietnam and Japan. the production of agricultural products is also due to the increase in population in the region and the higher quality of agricultural products demanded by the region’s growing middle class.
There is also a growing demand for biorational activities of bio-based fungicides and insecticides, for higher crop yield and reduction of soil-borne diseases. This can be attributed to the upward trend in the consumption of organic fruits and vegetables in the Asia-Pacific region.
According to Asian Development Banks, Asia-Pacific produces 32% of the high value crops of total agricultural production. The increase in production and sales of high-quality products can be attributed to increasing consumer purchasing power and population growth. in Asia-Pacific.
This factor is expected to contribute to the requirement for pesticides, insecticides, chemical and non-chemical biorational activities over the forecast period, thereby driving the growth of the biorationals market.
North America is another key region contributing to the growth of the market owing to the growing demand for the production of high value crops in the region. It is estimated to reach over $4.8 billion by 2030, registering a CAGR of over 9% over the forecast period. The growing need for residue-free foods of high quality and quantity is expected to influence the market positively, thereby driving the demand for biorational products in the region. Some of the leading manufacturers of biopesticides and insecticides in North America, such as Corteva Agriscience, American Vanguard Corporation, and FMC Corporation, produce pesticides in large quantities, which is expected to exceed the demand for biorationals in the region in the coming years. .
The biorational industry is competitive and fragmented with the presence of several regional and national players as well as the presence of several major players such as Koppert BV, Bayer, Isagro SPA, BASF, Gowan Company LLC, Summit Chemicals Company and UPL Limited. These players have strong worldwide distribution networks in the market ecosystem.
Another major factor influencing the growth of the market is the growing preference for biopesticides and non-chemicals as products in the marine treatment business by end users owing to the increasing demand for high value added crops and of fruit and vegetable products for consumption. growing trend of using bio-based alternatives to improve soil health and reduce soil-borne diseases in the market.
The growing world population and the ongoing urbanization and industrialization in emerging economies, coupled with the rise of the middle class in countries like India and China, have led different countries around the world to promote practices superior agricultural production, which has led to an increase in demand.
Biorationals Market Report Highlights
• Botanical segment dominated the overall market with a value of USD 946.2 million in 2022. These products are widely used for insect pests and pest reduction in plant frames, leaves and roots. Plants are used for overall plant health and prevention of plant structure, among others, which is expected to contribute to the growth of the industry.
• Asia-Pacific led the market in 2022 due to growing demand for premium agricultural products in the region, with strong demand from food and beverage manufacturing companies
• Various companies in North America and Asia-Pacific are offering bio-based and non-chemical alternatives to offer sustainable biorational products for organic farming practices. This strategy should attract more customers and investors looking for greener solutions
• The spread of COVID-19 has not affected industry growth due to the growing consumption of fruits and vegetables
Read the full report: https://www.reportlinker.com/p06377963/?utm_source=GNW
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