Agriculture

How Is the Biorational Market Expected To Grow Through 2024-2033?

February 7, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The biorational market has witnessed rapid expansion in recent years, driven by a paradigm shift towards eco-friendly agricultural practices and increased awareness about environmental sustainability. Let’s delve into the trends and projections shaping this burgeoning market.

Market Expansion and Projections

The biorational market is poised for robust growth, escalating from $3.9 billion in 2023 to $4.56 billion in 2024, with a notable compound annual growth rate (CAGR) of 17.0%.
Projections indicate continued rapid expansion, with the market forecasted to soar to $8.37 billion by 2028, growing at a CAGR of 16.4%.

Growing Adoption of Integrated Pest Management (IPM)

The increasing adoption of integrated pest management (IPM) practices is fueling the demand for biorational products in agriculture. IPM involves sustainable pest management strategies, combining cultural, biological, and chemical measures.
Governments worldwide, such as India, have embraced IPM as a cornerstone of plant protection programs, resulting in significant crop yield improvements and reduced reliance on chemical pesticides.
The adoption of IPM practices is driving the popularity of biorational products, positioning them as sustainable alternatives to conventional chemical pesticides.

Technological Advancements Drive Market Growth

Technological innovation is a pivotal trend in the biorational market, with companies investing in advanced technologies to enhance product efficacy and environmental sustainability.
Syngenta Crop Protection’s launch of PLINAZOLIN technology exemplifies the industry’s commitment to innovative insect control solutions, setting new standards for crop protection.
The introduction of innovative technologies underscores the industry’s dedication to developing effective solutions that promote crop productivity while minimizing environmental impact.

Strategic Acquisitions Expand Market Presence

Rovensa’s acquisition of Oro Agri in January 2021 reflects the industry’s focus on expanding global market presence and strengthening biorational product offerings.
The acquisition enables Rovensa to provide enhanced marketing, sales, and research and development support to customers, consolidating its position as a leader in sustainable agriculture.
Oro Agri’s expertise in developing innovative biorational products complements Rovensa’s commitment to delivering sustainable agricultural solutions worldwide.

Market Segmentation

The biorational market encompasses a diverse range of products, including botanicals, semiochemicals, and other product types, catering to various crop types and applications.
Segmentation by formulation includes liquid and dry formulations, while crop types span cereals and grains, fruits and vegetables, and other crop types.
Applications of biorational products extend beyond agriculture to aquaculture, structural pest control, and other specialized applications.

Regional Dynamics

North America emerged as the largest region in the biorational market in 2023, driven by increasing adoption of sustainable agricultural practices and regulatory support for eco-friendly solutions.

View More On The Biorational Market Report 2024 – https://www.thebusinessresearchcompany.com/report/biorational-global-market-report

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The Biorational Global Market Report 2024 provides comprehensive insights on the biorational market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the biorational market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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