BioControl Agents are Estimated to Witness High Growth Owing to Increasing Adoption of Organic Farming Practices
Biocontrol agents are microbial pesticides consisting of bacteria, fungi or viruses that are natural enemies of agricultural insect pests and plant pathogens. They are applied to crops or soil to suppress pest populations or plant disease and reduce the damage caused by the target pest below an economically damaging threshold. The global demand for organic food is increasing steadily owing to rising health concerns among consumers regarding chemical residues in food. The adoption of organic farming practices is rising significantly as organic farms rely more on biocontrol agents rather than synthetic pesticides and fertilizers. 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 Dynamics:
As mentioned in the heading, the increasing adoption of organic farming practices across major economies is one of the key drivers bolstering the demand for biocontrol agents globally. According to the Research Institute of Organic Agriculture, the organic agricultural land has increased from 37 million hectares in 2019 to 72.3 million hectares in 2021 globally. Biocontrol agents are the primary means of crop protection used in organic farming as they provide a natural alternative to chemicals. Furthermore, the growing consumer preference for chemical-residue free food is also compelling farmers to opt for biocontrol agent-based integrated pest management techniques. However, inconsistent availability and higher costs compared to chemical pesticides continue to remain key challenges for the market.
SWOT Analysis
Strength: BioControl Agents is an ecofriendly alternative to chemical pesticides and helps improve soil health in three important ways – it controls pests without harming other organisms; it promotes decomposition which enriches soil nutrients; it prevents water pollution caused by runoffs.
Weakness: High initial costs for R&D and lack of consumer awareness about benefits can hamper early growth of biopesticides. Dependency on climatic conditions for certain bioagents effectiveness.
Opportunity: Increasing regulations on chemical pesticides due to health and environment concerns provide a strong market opportunity. Growth in organic farming is another major driver for biocontrol products.
Threats: Entry of new chemical pesticides that can successfully replace existing broad-spectrum ones. Climatic extremities may reduce efficacy of certain biological agents.
Key Takeaways
The Global Biocontrol Agents Market Demand is expected to witness high growth. The market size is projected to grow from US$ 4.88 Bn in 2023 to US$ 9 Bn by 2030, expanding at a CAGR of 7%.
Regional analysis: North America currently dominates with over 30% market share led by growth in US organic farmlands. Stringent regulations on chemical pesticides boost adoption of biocontrol products in the region. Europe is another major market growing at 6% annually due to supportive EU policies for sustainable agriculture.
Key players operating in the BioControl Agents market are Linde AG, Air Products & Chemicals, Inc., Praxair, Inc., Air Liquide SA, and Airgas Inc. The market is characterized by consolidation with top five players holding over 60% share. Linde AG leads with diversified product portfolio and global supply chain network. Small players focus on niche segments like biofungicides. Future growth lies in developing integrated pest management systems combining biological, physical and other alternative methods.
For more details on the report, Read- https://www.ukwebwire.com/biocontrol-agents-market-demand-share-analysis/
