Global Bioinsecticides market- Growth, Trends, Forecast for the period (2015-2020)
Worldwide, the pesticides industry has been witnessing a relatively steady growth, which has been primarily attributed to advancements in the Biopesticides industry.The value market for Bioinsecticides is forecast to exhibit a 2015-2020 CAGR of 7.94% in reaching a projected to reach USD 774.15 million by 2020. While the prevalence of chemical or synthetic pesticides in crop protection would continue, human, animal and environmental health concerns would play key roles in driving growth for Biopesticides. Though agricultural productivity has been largely dependent on synthetic insecticides, they come with their own set of shortcomings, such as being expensive, not being foolproof, tendency to accumulate in the environment and pollute waterways and being non-species specific, implying that their use can also harm non-target organisms.Thus,the high specificity of Bioinsecticides towards pest, will drive the market. However, the need to use different Bioinsecticides for different pests apart from frequent reapplication instituted due to low life span will increase the cost sentiment among the growers, and in turn proving to be a constraint. The report is segmented based on application; both crop based and Non crop based categories. Growth in demand for bioinsecticides in Asia-Pacific is likely to be precipitated by the development of insecticide-resistant pests, requiring more efficacious solutions for either controlling or eliminating them. Bacillus thuringiensis is the entomopathogenic microorganism most extensively utilized as a bioinsecticide at global level. The value of bioinsecticides in the region is likely to post a 2014-2020 CAGR of 19.5%. North American and European demands for bioinsecticides are forecast to register slower growths as the result of decreased insect pressure. However, compared to synthetic insecticides, demand for these products is likely to be stronger, particularly in Europe, after the EUs restriction on use of clothianidin, imidacloprid and thiametoxam from April 2013. The market is seeing severe competition from big and small firms, with the larger firms adopting acquisition strategy to create a foothold in the Biopesticide market. Some of the leading players are Marrone Bio innovations, Valent Biosciences, Certis LLc, Agraquest, and Koppert Biological systems. The future opportunity for the companies lies in increasing registrations of Biopesticides in various regional markets. As EPA requires less data and provides a simpler registration process, with the registration process completing with a year when compared to three year tenure for synthetic pesticides; more companies should take a voluntary step towards increasing the biopesticide portfolio. Also, increasing awareness on the products advantages among the growers community along with ease of access will further grow the market. Key Deliverables in the Study 1. Market analysis for the Global Bioinsecticides Market, with region specific assessments and competition analysis on Europe. 2. Market definition along with the identification of key drivers and restraints. 3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market. 4. Extensively researched competitive landscape section with profiles of major companies along with their market shares. 5. Identification and analysis of the macro and micro factors that affect the global bioinsecticides market. 6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. 7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. 8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.