North America continues to lead the market share during 2018-2023.
North Americas dominated the global BioControl Agents market with a value share of 38% in 2017. Europe is estimated to grow prominently at CAGR 9.56% during 2018-2023, owing to the increasing number of programs that are being laid down by USDA (United States Department of Agriculture). On-Field application segment held the highest revenue of $460 million in 2017, and is estimated to reach $819 million by 2023 at 10.10% CAGR.
In the APAC region, increasing awareness among farmers with regards to the needs of the crops, along with the rapid development of agricultural technologies, has been facilitating the bio control agents market during the forecast period 2018-2023. Emergence of India as a manufacturing hub offering low-cost platforms as compared to China, offers opportunities related to manufacturing expansion which also eventually helps the companies to tap the growing Asia-Pacific market. Asia-Pacific is projected to register the highest growth rate of 11.15% CAGR during the forecast period.
Selected / Sample Analysis done in the full Report:
Value chain for bio-control agents market has been established as an interdependent and complex network, comprising of substance manufacturers, distributors and different groups of crop and non-crop growers.
Contract manufacturing, packaging, regulatory bodies and farming communities also play an important role in value addition. Defining and implementing the R&D, according to the market trends, and future applications and establishing value chain frameworks accordingly, has made the industry more agile.
Increasing surveys helps the market players to develop active ingredients that provide appropriate pest and insect control solutions.
Different applications need different set of ingredients, employ various processes, and packaging techniques.
Regulatory bodies approve ingredients and substances through thorough analysis to match the environmental conditions related to the safety and environmental impact while being used. In addition, they also establish and maintain regulations that provide guidelines for storage and distribution of substances.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
1. Growing awareness of bio-control agents among consumers about the consumption of contamination-free food, BCA are projected to expand at a higher rate, which will drive the growth of the market.
2. Rising demand of bio-control agents as an alternative to pesticides, are boosting the growth and development of the market.
3. Increasing concern about soil fertility, environmental and food contamination associated with the excess use of chemical pesticides, are the key factors which are boosting the growth of this market.
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Key Players of the Biocontrol Agents Market:
Bayer CropScience AG and Syngenta AG are analyzed to be the dominant players of bio-control agents market. Bayer CropScience AG, one of the key players, has witnessed strong revenues in 2016 for their bio-control agents. Though the industry has witnessed rise in R&D prices coupled with fierce price competition, key players are managing to sustain the market demand and profit margins with strategic investments and production flexibility.
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