by The global BioControl Agents Market is estimated to be valued at US$ 4.87 Bn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Biocontrol agents are natural enemies of pests that are used to control pest populations. These include predators, parasitoids and pathogens. They provide a non-toxic and environmentally sustainable alternative to synthetic pesticides. Some common types of biocontrol agents include bacteria, viruses, nematodes, fungi, and beneficial insects. They help control agricultural pests such as weeds, insects, plant pathogenic fungi and bacteria. With growing demand for organic and chemical residue-free food worldwide, biocontrol agents are increasingly being used in Integrated Pest Management programs in place of conventional pesticides.
Market key trends:
One of the key trends in the biocontrol agents market is the development of microbial-based biopesticides. Various microbial strains such as Bacillus thuringiensis, Trichoderma viride and Beauveria bassiana are being extensively researched and commercialized for their efficacy against a wide range of pests. These microbial biopesticides are target-specific and do not harm beneficial or non-target organisms. They also aid in the decomposition of organic matter and maintain soil health. The market is also witnessing increased adoption of native parasitic wasps and predatory mites for biological control of greenhouse pests such as whiteflies, aphids, thrips and mites. Their effectiveness in protected cropping systems is driving their demand among commercial growers.
Porter’s Analysis
Threat of new entrants: The biocontrol agents market requires high R&D investment and regulatory approvals. These factors create significant entry barriers for new players.
Bargaining power of buyers: The presence of many buyers and substitutes increases the bargaining power of buyers in this market. Buyers can negotiate for better prices and demand value-added services.
Bargaining power of suppliers: Leading suppliers have significant influence over this market due to their extensive product portfolio and global presence. Suppliers differentiate their products to reduce dependence of buyers.
Threat of new substitutes: Chemical pesticides are major substitutes. However, stringent regulations on pesticide residues and growing organic trend have increased demand for biocontrol agents.
Competitive rivalry: The market is consolidated with global players. Companies compete based on product differentiation, pricing, and strong distribution network.
Key Takeaways:
The global Biocontrol Agents Market size is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing preference for organic and sustainable farming practices.
The North American region dominates the biocontrol agents market currently. Growth in Asia Pacific region is expected to be fastest, led by countries like India and China. Rising population and arable land in Asia Pacific is driving demand for sustainable agriculture in the region.
Key players operating in the biocontrol agents market include BASF SE, Bayer AG, Syngenta AG, FMC Corporation, Novozymes, Koppert Biological Systems, Certis USA LLC, Andermatt Biocontrol AG, Som Phytopharma India Ltd, Valent Biosciences LLC, BioWorks Inc., Marrone Bio Innovations, Monsanto Company, Isagro Group, Camson Biotechnologies Limited, Lallemand Inc., Biobest Group NV, Stockton Group, Rizobacter Argentina S.A., Bioline Agrosciences ltd. Major players are focusing on new product launches and expansion in high growth regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
