According to the latest report by IMARC Group, titled “Biorationals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global biorationals market forecast.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global biorationals market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.
Biorationals refer to low environmental impact products or substances, such as minerals, synthetics, biostimulants, soil conditioners, microbials, and botanicals. They are acquired from biological origins or natural sources, such as pathogens and plant extracts. They are widely used in turf, agriculture, public and forest health, structural pest control, and home and garden applications to manage crop stress and root growth and enhance plant physiology. They are also used as control agents in antimicrobials and pesticides to improve productivity and quality of agricultural production and disease vector management systems. As a result, biorationals are gaining traction among forestry, agriculture, and aquaculture industries across the globe.
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Market Trends
The market is primarily driven by the growing food shortage due to the rising global population and altering climatic conditions. In addition, the increasing application of biorationals to preserve useful pests and bacteria on leaves, minimize crop loss, and improve the yield of agricultural products, is contributing to market growth.
Moreover, the growing awareness among individuals regarding the adverse effects of chemical pesticides on the environment represents another major growth-inducing factor. Besides this, the implementation of government initiatives to protect green crops is encouraging manufacturers to produce eco-friendly products and solutions for consumers, which is providing a positive thrust to market growth. Furthermore, the growing inclination toward sustainable farming practices, stringent regulations for lowering maximum residue limit (MRLs), and research and development (R&D) activities conducted by key players are creating a favorable market outlook across the globe.
For The Competitor Segment, The Report Includes Global Key Players Of The Biorationals Market.
- BASF SE
- Bayer AG
- Gowan Company LLC
- Institute of Natural Organic Agriculture (INORA)
- Isagro S.p.A.
- Koppert B.V.
- Marrone Bio Innovations Inc.
- Rentokil Initial plc
- Russell IPM Ltd.
- Sumitomo Chemical Co. Ltd.
- Summit Chemical Company
- and The Wonderful Company LLC
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Source:
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Botanicals
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Semiochemicals
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Others
Breakup by Type:
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Pesticides
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Insecticides
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Fungicides
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Nematicides
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Herbicides
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Plant Growth Regulators
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Others
Breakup by Crop Type:
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Cereals and Grains
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·Fruits and Vegetables
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Others
Breakup by Formulation:
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Liquid
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Dry
Breakup by Application:
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Foliar Spray
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Soil Treatment
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Trunk Injection
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Others
Breakup by End User:
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Forestry
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Agriculture
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Public Health
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Aquaculture
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Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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