NEW YORK, April 26, 2016 /PRNewswire/ -- "Bio-insecticides market for thrips control projected to grow at a CAGR of 19.7%"
The bio-insecticides market for thrips control is projected to reach a value of USD 418.3 million by 2020, growing at a CAGR of 19.7% from 2015 to 2020. The market for bio-insecticides for thrips control is further driven by factors such as increasing market for biological pest controls, increasing awareness toward the impact of chemicals used for pest control, rising world population resulting into increased food consumption and demand, and the promising results of using bio-insecticides for controlling infection caused by thrips. Along with these factors, the use of biological solutions for pest controls enhances the crop quality and productivity with minimum environmental hazards and toxicity. The high growth potential in emerging markets in the agriculture business and untapped regions such as Asia-Pacific, Middle-East, and Africa provides new growth opportunities for market players.
"Fruits accounted for the largest market share in 2014 among all the crop types considered for the application of bio-insecticides for thrips control"
Fruits are the major crops types for the use of bio-insecticides followed by vegetables and flowers. Thrips affect the appearance of the fruit which reduces the commercial value of the same and thus bio-insecticides are used on a large scale on fruits. The demand for bio-insecticides is increasing in the market for biological pest control due to promising results of bio-insecticides for controlling thrips infection and maintaining the quality of the product.
"Biorationals active ingredient led the market with the largest share in 2014"
The major active ingredients used in making bio-insecticides are predators, parasites, and biorationals. The biorationals active ingredients are the highest used ingredients to make bio-insecticides due to their functional property of affecting the target pest, keeping the beneficial pests unharmed.
"North America dominated the market with the largest share"
North America formed the largest market for bio-insecticides for thrips control in 2014, whereas Europe accounted for the second-largest market in 2015, in terms of value and is projected to grow at the highest CAGR from 2015 to 2020. The global bio-insecticides market for thrips control is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). Bio-insecticides are becoming popular with pesticide manufacturers developing specific pest control solutions in the developing regions of Asia-Pacific and Latin America, mainly due to the rising demand for biological solutions by the farmers, as a result of increasing awareness about the benefits of the same.
Breakdown of profile of primary participants
-By Company Type: Tier 1 – 36 %, Tier 2 – 42%, and Tier 3 – 22%
-By Designation: C level – 69%, Manager level – 31%
-By Region: North America – 22%, Europe – 56%, Asia-Pacific – 19%, RoW – 3%
The key players identified in the bio-insecticides market for thrips control include BASF SE (Germany), Bayer CropScience AG (Germany), Canson Biotechnologies Limited (India), The DOW Chemical Company (U.S.), and Marrone Bio Innovations Inc. (U.S.). Along with these companies, other players having a strong presence in the bio-insecticides market for thrips control include Valent Bioscience Corporation (U.S.), Certis USA L.L.C (U.S.), Koppert B.V. (The Netherlands), W.NEUDORFF GMBH KG (Germany), Bioworks, Inc. (U.S.), and The Gowan Company, Inc. (U.S.).
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- To get a comprehensive overview of the global bio-insecticides market for thrips control
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