Bioinsecticides Market Size, Share & Growth, Industry 2031

Report Description

The global bioinsecticides market size was around USD 3.007 Bn in 2022 and is likely to reach USD 8.609 Bn by 2031, expanding at a CAGR of 15.9% during 2023–2031. The market growth is attributed to the increasing popularity of organic farming and the rising awareness of the benefits of bioinsecticides over conventional insecticides.

Bioinsecticides are organic formulation, which contains active ingredients of biological origin that are applied on crops to repel or kill insects. It refers to a type of biopesticides, which are generally derived from plant extracts, animals, microorganisms, bacteria, minerals, and other materials that have pesticidal properties.

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Bioinsecticides include living organisms, such as insects, microorganisms, bacteria, viruses, and fungi that are useful in resistance management. They are less toxic to humans and the environment than synthetic insecticides.

Bioinsecticides have the ability to attack a specifically targeted organism. It is effective when applied in small quantities. They are preferred over chemical pesticides to get rid of pests and weeds. Bioinsecticides are environmentally friendly as they are developed from natural materials, which reduces soil erosion.

The COVID-19 pandemic affected on the bioinsecticides market. The market growth slowed down due to the limited availability and accessibility of the products, owing to the traveling restrictions, which disrupted the overall supply chain of the market.

Bioinsecticides Market Dynamics

The bioinsecticides market report has up-to-date insights that help in formulating a strategic roadmap about the estimated market scenario and performance during 2023 to 2031.

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Drivers

Rising demand for organic food products, due to the increasing awareness regarding the benefits of organic food is a major factor driving the market growth in the coming years. Organic food avoids possible health risks from synthetic pesticides. The low exposure, safety, and high nutritional value of organic products highly encouraged consumers to adopt bioinsecticides for good crop production.

Increasing awareness regarding the benefits of using bioinsecticides is another major factor driving the growth of the market. Bioinsecticides work as an essential component in the integrated pest management concept. It produces less toxic residue compared to synthetic pesticides, which reduces the risk to human health and avoids soil degradation. Furthermore, consumer preference towards biological fertilizers, pesticides, herbicides, and other agrochemicals has increased to maintain soil health.

Growing environmental concerns over the use of synthetic pesticides in farming and their effects on consumers’ health boost the demand for bioinsecticides. Moreover, the rising demand for sustainable agriculture practices, integrated pest management, pest resistance & resurgence, organic farming, and the growing requirement to curb post-harvest crop losses accelerates the market.

Restraints

Low residual effectiveness of bioinsecticides hinders the market growth during the projected period. Bioinsecticides have slow killing rate than chemical pesticides. However, short or limited shelf life and a high probability of contamination can restrain the market growth at a certain limit.

Opportunities

Stringent regulations on chemical pesticides and the growing popularity of integrated pest management creates immense growth opportunities for the new entrants and emerging players in the bioinsecticides market. The ban on chemical pesticides in major countries attributed to the deteriorating soil conditions, extensive farm practices, and growing concerns regarding residue levels in food products encouraged manufacturers to develop effective agricultural bioinsecticides.

Scope of Bioinsecticides Market Report

The global bioinsecticides market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Bioinsecticides Market Segment Insights

On the basis of type, the bioinsecticides market is segregated into microbials, macrobials, and others. The microbials segment held a large share of the market in 2021 and is expected to expand at a significant growth rate during the projection period. Microorganisms, such as fungi and bacteria serve as active components of microbial pesticides. The segment growth is further attributed to the rising farmers’ concerns about the environment and human health.

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Based on organism type, the market is fragmented into bacillus thuringiensis, verticillium lecanii, baculovirus, beauveria bassiana, metarhizium anisopliae, and others. The baculovirus segment accounted for a key share of the market in 2021 and is projected to register a considerable CAGR during the assessment period, due to its effectiveness in killing invasive pests. It does not contaminate the environment and is safe for the applicators’ health. Increasing demand for effective biocontrol agents boosts the segment growth.

The bacillus thuringiensis (BT) segment is anticipated to grow at a rapid pace as it produces toxins, which are specific to certain insects. It is a naturally occurring bacteria. The segment growth is further attributed to the growing demand for target-specific biological control agents.

On the basis of formulation, the market is bifurcated into dry and liquid. The liquid segment is expected to register a robust growth rate during the forecast period due to the ease of use and safe to handle. It has the ability to treat a large area and is adaptable to any type of sprayer compared to the dry formulation. Growing demand for crop protection pesticides to curb post-harvest crop losses drives the segment growth.

Based on mode of application, the bioinsecticides market is divided into soil treatment, foliar spray, seed treatment, post-harvest, and others. The foliar spray segment holds a large share of the market in 2021 and is expected to generate a major share in the coming years as it is widely used among farmers. It can be directly applied to the infected area, which helps in immediate recovery. The ease of use, long shelf-life, and low maintenance encouraged farmers to use foliar spray, which fuels the market growth.

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On the basis of crop type, the market is segmented into fruits & vegetables, grains & cereals, commercial crops, pulses & oilseeds, and others. The fruits & vegetables segment is projected to account for a large market share during the projection period. Increasing the application of bioinsecticides to protect fruits and vegetables from pests accelerates the market.

Bioinsecticides have a lower residue level and are a perfect fit for the treatment of fruits and vegetables. Rising demand for organically grown fruits & vegetables is expected to boost the growth of the market.

In terms of region, the global bioinsecticides market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Latin America is projected to account for a significant market share during the forecast period. In Latin America, Bacillus thuringiensis (Bt)-based products cover around 40% of the market.

The production of bioinsecticides in the region is carried out at the local level, with the help of governments and local NGOs. The market in Latin America is anticipated to exhibit a high CAGR during the forecast period due to the emerging resistance among insects. Growing requirements for soil health and increasing demand for solutions to improve crop productivity are expected to propel the market growth in the region.

The market in Asia Pacific is anticipated to grow at a significant CAGR during the projected period, due to the rising focus of government state bodies to boost the agriculture sector. Increasing government initiatives and the growing number of stimulus packages to revive the agriculture sector are further boosting the regional market growth.

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