by The Global BioControl Agents Market Driven By Increasing Organic Farming Practices
Biocontrol agents refer to the natural enemies such as predators, parasitoids, pathogens and competitors that help regulate pest populations. Some common biocontrol agents used include fungi, bacteria, viruses, nematodes and insects. These agents help control plant diseases and protect crops from pests through various mechanisms without causing harm to the environment. With the rising demand for organic and chemical-residue free food, many farmers are switching to organic farming practices which is driving the demand for biocontrol agents. The global biocontrol agents market is gaining significant traction in the agricultural sector as they provide a cost-effective and environment-friendly alternative to pesticides.
The global BioControl Agents Market is estimated to be valued at US$ 4.88 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the biocontrol agents market is the growing popularity of microbial biopesticides. Microbial biopesticides contain microorganisms as the active ingredients and they help control plant diseases as well as pests. The market for microbial biopesticides is growing at a faster rate compared to conventional pesticides owing to factors such as safety, efficacy and minimal risk to the environment. For instance, in April 2022, Marrone Bio Innovations Inc. launched multiple microbial-based biopesticide and bio-fungicide products for specialty crops.
Another key trend is the increasing adoption of integrated pest management (IPM) strategies by farmers globally. IPM is an eco-friendly approach which focuses on long-term prevention of pests through methods like cultural practices and use of resistant varieties, along with selective use of biocontrol agents and chemicals as a last resort. As per the IPM Institute of North America, over 80% of crop acreage in the U.S. is now under integrated pest management programs. This growing adoption of IPM strategies is fueling the demand for biocontrol agents.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low given the high R&D costs and regulations required for biocontrol agents products.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have several product alternatives.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative suppliers in the market.
Threat of new substitutes: The threat of substitutes is moderate as chemical pesticides continue to be a cheaper alternative.
Competitive rivalry: The competitive rivalry is high among existing players considering the large number of players.
Key Takeaways
The Global Biocontrol Agents Market Demand is expected to witness high growth.
Regional analysis: The North America region dominated the biocontrol agents market in 2023 attributed to increasing demand for organic food and stringent regulations against chemical pesticides. The Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by Government initiatives for sustainable agriculture practices.
Key players operating in the biocontrol agents market are Linde AG, Air Products & Chemicals, Inc., Praxair, Inc., Air Liquide SA, and Airgas Inc. Biocontrol agents are gaining popularity as an eco-friendly alternative to chemical pesticides. Key market players are investing heavily in R&D to develop innovative and effective biocontrol solutions.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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