Description

The global Bioinsecticides Market was valued at USD 2.4 billion in 2020 and is anticipated to grow at USD 4.7 billion by 2025 recording a CAGR of 15.9% during the forecast period 2021-2027. The compounds used to destroy insects are known as insecticides. Insects often cause crop damage and hinder plant and crop growth. This results in a decrease in production. Bio Insecticides are insecticides that are made from organic ingredients including animals, plants, microbes, or minerals. Live bacteria that produce poison are found in several bio pesticides. This toxin is damaging to insects because it causes poison to be produced in their stomachs, killing them. Biochemical insecticides, microbial insecticides, and plant-incorporated protectants are the three types of insecticides. VBT, Toxin, and Shock are some of the bio insecticides currently on the market. Market players are focusing on the development of newer bioinsecticides due to low cost of R&D activities and increase in the demand for bioinsecticides than synthetic products. Developed countries have a significant share in bioinsecticides market owing to increase in the awareness about the benefits of bioinsecticide products. Moreover, acquisitions and mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for increasing their revenue share in bioinsecticides market. For instance, in July 2016, Marrone Bio Innovations received the Mexico regulatory authority’s approval for its bioinsecticide products Grandevo and Venerate. Moreover, in January 2016, Lallemand expanded its plants care unit in Latin America by the acquisition of Labortorio farroupilha including bioinsecticide products. In May 2017, Marrone Bio Innovations and Agri-Star inked a distribution agreement for the distribution of bioinsecticides Venerate and Grandevo in Mexico

 

ASIA PACIFIC OFFICE

Precision Business Insights, 5th Floor, Mohan’s Elite, Opp : Bharat Petroleum Pump, Khanamet Road, Hitech City, Hyderabad – 500084

EUROPE OFFICE

Precision Business Insights, Kemp House, 152 – 160 City Road, London EC1V 2NX