The biorational pesticides market is estimated at USD 2.78 Billion in 2017 projected to reach a value of USD 5.02 Billion by 2022, at a CAGR of 12.5% from 2017. The market is driven by factors such as evolving farming technologies & practices, consumer demand for organic fruits & vegetables, and increasing promotion by government organizations for the adoption of environment-friendly pesticides. As demand for organic fruits, vegetables, and crops is increasing globally, the market for biorational pesticides is expected to grow. The area under organic crop cultivation is expected to rise because of the growing demand for organic food, a result of increasing health-consciousness among consumers. This indicates that there is immense scope for growth of the biopesticides market, globally.
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• Valent Biosciences (US)
• Bayer (Germany)
• Monsanto BioAg (Germany)
• BASF (Germany)
• DowDuPont (US)
• Syngenta (Switzerland)
Bayer CropScience, a subsidiary of Bayer, is an agricultural enterprise that offers crop protection, seeds, and non-agricultural pest control products. These products are offered through its two main operating business segments: crop protection/seeds and environmental science. Bayer has been one of the major players in the global biorational pesticides market. The company has been focusing on expansions and mergers & acquisitions. In September 2016, Bayer and Monsanto announced their definitive merger agreement; Bayer acquired Monsanto for an all-in-cash transaction at USD 128 per share. This agreement combined the companies’ leading innovation capabilities and R&D technology platforms for the agricultural industry
BASF is a chemical manufacturing company operating in the segments of chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. Under these broad categories, it offers products such as intermediate chemical products, monomers, petrochemicals, dispersions & pigments, nutrition & health, paper chemicals, performance chemicals, catalysts, construction chemicals, coatings, performance materials, and crop protection. The company provides biorational pesticide products through its agricultural solutions unit. In October 2015, BASF expanded its production capacities of innovative biorational solutions for agriculture and horticulture in Littlehampton (UK). This helped the company to increase its production volume of beneficial nematodes and inoculants for conventional crop protection. In May 2015, BASF also opened a new agricultural research station in Pune (India). It helped the company to carry out global agricultural research on herbicides, fungicides, and insecticides.
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The North American market for biorational pesticides is driven by the simple registration process of biorational products, increasing consumer preference for organic products, and growing consumer awareness about the ill-effects of synthetic pesticides on human health. The rigorous regulatory system in the US and Canada regarding the environment and human health has compelled manufacturers to develop biorational pesticides with low risks to consumers. The market in Europe is expected to grow at a moderate rate in the near future owing to the stringent regulations for pesticides and increasing demand for organic products. Developing countries such as China, India, Brazil, and Argentina are showing a significant increase in the demand for biorational pesticides.