Bioinsecticides Market Emerging Trends and Developments

The global bioinsecticides market size is projected to grow at a CAGR of 15.8% from an estimated value of USD 2.2 billion in 2020 to reach USD 4.6 billion by 2025. The increasing area under organic cultivation and growing concerns toward the impact of pesticide use on biodiversity is leading to the growth of the bioinsecticide industry.

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The role of Integrated Pest Management (IPM) practices in biological crop protection has been gaining importance worldwide. The government has been supportive of the adoption of bioinsecticides through imposing laws and policies, which are in sync with the sustainability of the environment. Strategic developments such as expansions, new product launches, collaborations, and agreements have been adopted by the majority of key players to strengthen the bioinsecticides market.

By organism type, the baculovirus segment is projected to dominate the bioinsecticides market during the forecast period.

With the ban of key synthetic pesticides, there is a significant growth in the usage of bioinsecticides. Baculovirus is an effective biocontrol agent that does not harm the health of applicators, do not kill natural enemies of pests, do not contaminate the environment, or leave residues in the products; these are some of the driving factors for the growth of baculovirus as a bioinsecticide. The US has been one of the key markets for using virus-based bioinsecticides. Due to its effectiveness in killing invasive pests, it has boosted the growth of the baculovirus market.

By crop type, the fruits & vegetables segment is projected to be the fastest-growing segment in the bioinsecticides market during the forecast period.

Increasing demand for high-value crops grown under organic farming is driving market growth. With the change in dietary habits, farmers are compelled to cultivate crops organically using inputs that are devoid of harmful chemicals.

There is huge infestation witnessed in fruits and vegetables both in open fields and greenhouses. To meet the export demand for residue-free crops, farmers are implementing the use of bioinsecticide in combination with conventional chemicals. These are some of the key reasons that are driving the adoption of bioinsecticides in the fruits & vegetables segment.

By mode of application, the foliar spray segment is projected to be the fastest-growing segment in the bioinsecticides market during the forecast period.

Foliar spray is widely used among farmers as it helps in the immediate recovery of pest-infected parts of plants. It is considered to be more effective as it is easy to handle and safe in application. These are the reasons that are driving the adoption of foliar spray mode of application in the bioinsecticide industry.

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The increasing demand for bioinsecticides in the North American region is projected to drive the market.

The North American region accounted for the majority of the global bioinsecticides market share in 2019. The US is one of the leading countries for the export of various fruits and vegetables. Consumers are shifting their eating habits to residue-free crop produce. An increase in the awareness of pesticide residue levels in crops is driving the adoption of bioinsecticides. Also, the huge presence of companies in the US has led to investments and research on biological crop protection products.

Key players in the bioinsecticides market include BASF SE (Germany), Syngenta AG (Switzerland), Marrone Bio Innovations (US), Bayer AG (Germany), Novozymes (Denmark), and Nufarm (Australia).

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