NEW YORK, Dec. 7, 2016 /PRNewswire/ -- The global biorationals market is expected to reach USD 2.75 billion by 2024, according to a new report by Grand View Research, Inc. Shifting consumer trend towards natural and organic crop stress management products has played a major role in promoting industry growth over the next eight years. Currently, biorational products are widely used in agriculture, structural pest control, forestry, public health, aquaculture, turf, and home and garden. Ecological pest control technologies enable maximization of quality crop yield and help the end-users achieve agricultural sustainability.
Favorable initiatives in Europe such as "Green Crop Protection" has urged biorational producers to invest in product innovation and develop eco-friendly solutions for their clientele in the agriculture industry.
Botanicals, plant-derived products such as rotenone, pyrethrum, sabadilla, and ryania accounted for over 40% of the total market revenue in 2015. Owing to its target-specific pest control characteristics it is considered under minimum risk pesticides type by the U.S. EPA, thereby resulting in increasing adoption among agricultural communities. However, factors such as high mammalian toxicity, short life, rapid break down, and non-target specific products are expected to exhibit negative impact on the segmental growth over the next few years.