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The pesticides industry has been witnessing a relatively steady growth across the globe, primarily due to the advancements in the microbial pesticides industry. While the prevalence of chemical or synthetic pesticides in crop protection, human, animal and environmental health concerns would play key roles in driving the growth of the microbial pesticides industry. Several countries are adopting a stringent approach concerning the amount of imports, with a special focus on regulating the quantity of pesticide residues. As a result, the demand for regulating food safety and quality is increasing.
Favorable government policies and adoption of new farming practices, among others are driving the market
One of the major factors driving the market are the favorable government policies. There has been heavy regulation on the use of pesticides, due to health hazards. In the year May 2017, Monsanto paused the commercialization of NemaStrike Technology, due to skin irritation and rashes after use. However, in an association with the Danish company, Novozymes, Monsanto reached an agreement worth USD 300 million, and BioAg Alliance was formed in the year 2013, which focused toward research activities from both companies for the production and marketing of microbial biopesticides. In the year 2017, Monsanto plans to add microbial seed treatment, called Acceleron B300 SAT, to all its corn hybrids.
Factors, such as the growing demand for organic products, adoption of new and modern farming techniques, favor the market growth. High growth rate is expected in countries, like China and India, as the government is now curbing the use of hazardous synthetic pesticides.
U.S. to Dominate the Global Microbial Pesticides Market
U.S. account for the largest microbial pesticides market by value, globally. Increasing acreage under grains, cereals and oilseeds play a major role in pushing up volume consumption of microbial pesticides in the United States. Although the consumption of microbial pesticides for grains cereals is the largest in size in the country's cropbased applications, the growth for oilseed applications is likely to be the fastest in growth rate, due to the growing demand for its products.
Key Developments in the Market
May 2017, Monsanto paused the commercialization of NemaStrike Technology, due to skin irritation and rashes after use.
2017, Monsanto added a microbial seed treatment called Acceleron B300 SAT to all its new corn hybrids.
Major Key Players: VALENT BIOSCIENCE, CERTIS, BIOWORKS, AGRI LIFE, MARRONE BIO, INNOVATIONS, NOVOZYME BIOLOGICAL, BAYER CROP SCIENCE, BASF, IsAgro Spa, DE SANGOSSE, FMC CORPORATION
Reasons to Purchase this Report
To understand the growth trends and forecast for 2018 2023 in the global microbial pesticides market. The information is crucial to understand the market's functionalities and the changes which are possible to follow.
Analyzing various perspectives of the market with the help of Porter's five forces analysis.
Major developments in the market are identified in the study, which helps the clients to understand the nature and scope of this market from a macro perspective.
The information regarding market overview, especially in terms of maturity provided in the study, is essential toward developing apt growth strategies suitable for the region considered in the study.
Identify the latest developments, market shares and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.
Original Article: Global Microbial Pesticides Market Segmented by Ingredient, Product, Application, and Geography Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $4250NEXT ARTICLE