Bacillus Thuringiensis Market Analysis, Segments, Growth and Value Chain -2024
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They aid crop growth by reducing harmful toxins and providing stability to the soil by fighting the root diseases. BT contains nine different types of toxins, among which delta endotoxin is majorly studied for bio-pesticide applications. These are either applied on the plant leaves or mixed with the soil to inhibit the growth of pests. Based on crop, the market has been segregated into cereals, fruits, vegetables, oils, and other types. In terms of the target pests covered, the market is divided into the following categories: arthropods and microorganisms.
BT holds a significant share in the global bio-pesticide market and is anticipated to expand at a promising pace owing to the increasing need to consume contamination-free food. Pests do not only hamper the production quantity but also degrade the quality of crops. To counter these adverse effects, farmers use chemical-based agents to suppress their presence. However, the usage and subsequent consumption of toxic chemicals impacts human health and worsens the quality of soil. Due to this, the market is shifting toward eco-friendly and non-toxic bio-pesticides, in turn driving the market for BT-based products. The arthropods segment constitutes a substantial share in the market on account of the effectiveness of BT products against arthropods in comparison to microorganisms. Other factors propelling this market over the forecast period include the easy availability of BT products and their environment-friendliness. Moreover, BT is required in small quantities to suppress pests, leading to limited exposure. Additionally, it decomposes faster which leaves negligible amounts of residue. All these factors boost the usage of BT products, propelling this market over the next few years.
Geographically, North America accounted for a promising share in the market in 2015 which is anticipated to rise over the forecast period owing to the wide acceptance of these products among farmers in this region and efforts taken by government to promote their usage. The market in Europe ranks second in terms of dominance, due to the presence of prominent manufacturers in the region. France, Italy, and Spain have emerged as key countries where BT is widely accepted whereas Germany is an important testing market for new products. The market in Asia Pacific is anticipated to witness significant growth as a result of the escalating population coupled with increasing health consciousness among consumers here.
Key players operating in the BT market include Molecraft., Zhejiang Rayfull Chemicals Co. Ltd., STAR BIO SCIENCE, Varsha Bioscience, and Technology India Pvt Ltd.
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