Microbial Pesticide Market
The Global Microbial Pesticide market was valued at USD 1,388.55 million in the year 2015, and it is projected to record a CAGR of 12.51% in the forecast period to reach a value of USD 3,075.88 million by 2022.
Crop protection multinationals have shown a lot of interest in the bio-control industry, giving the highest priority to the microbial market segment. More than USD 2 billion was invested in acquisitions since the last semester of 2012. The acquisition of AgraQuest & Prophyta by Bayer CropScience, BASF acquired Becker Underwood, and Valent BioSciences acquired Pace International are few examples.
With agricultural production increasing rapidly, dependence on agrochemicals has increased. While chemical crop protection is found to be effective in disease management, broad host range, and less cost, the negative impact on the environment is leading the shift toward a greener approach, microbial crop protection products being one of them. The global microbial crop protection scenario suggests that almost 322 Bt-based products occupy more than 53% of the market, while almost 50% of these products are consumed in America, particularly in the United States and Canada. North America and Europe have the major countries consuming maximum microbial crop protection, while Asia-Pacific is the fastest-growing market.
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The major segmentation in the report, includes market estimates based on ingredient type, which are – bacteria-based, fungi-based, virus-based pesticides, and others. Based on product type, the market is segmented into – microbial herbicide, microbial fungicide, microbial insecticides, and others. Based on application type, the market has been segmented – into crop-based and non-crop based. The report provides an in-depth analysis of the microbial pesticides market across different geographical regions viz. North America, Europe, Asia-Pacific, South America, and Africa, along with further country-wise segmentation. It also includes competitive vendor landscape, while considering major companies, such as Valent BioSciences, Certis, BioWorks, AgriLife, Marrone Bio Innovation, and others.
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About the Author: Ayushi works as a Research Associate with Mordor Intelligence, a market research and consulting firm based in Hyderabad, India, with expertise in accurate research and analysis.
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