Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) — The Biocontrol Market is estimated to be valued at USD 6.6 billion in 2022. It is projected to reach USD 13.7 billion by 2027, recording a CAGR of 15.8% from 2022 to 2027, according to a new report by MarketsandMarkets™. Some macroeconomic and microeconomic elements that have been prevalent in some important countries have had an impact on the global biocontrol market. In terms of value sales, this would be strong enough to significantly influence the market during the predicted period. The need for biocontrol crop protection solutions in the agricultural sector has been greatly increased by the surge in demand and preference for organic food products, pest resistance management, residue management, and environmental restrictions. Biopesticides and semiochemicals are safer alternatives to conventional chemical-based pesticides.
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A wide variety of biocontrol products are available in the North American market offered by Marrone Bio Innovations.
The organic market is expanding quickly. According to a FiBL survey on organic farming conducted in 2020, there has been an increase in the amount of organic farmland by 3 million hectares (4.1%), the number of organic farmers, and the sale of organic goods. The market for biocontrol in North America is expanding as a result of the growing acceptance of organic products due to their alleged health benefits, environmental legislation, pest resistance management, and residue management. Because of this, Marrone Bio Innovations, a US-based company, invests heavily in its R&D and provides a variety of biopesticides.It is notable to observe that, the company also has commercialized bioherbicides such as MBI-006, which gives it a competitive edge over other players that miss the product in their offerings.
Semiochemicals market is a relatively untapped and small …