Global Biorational Market: Overview
Biorationals are sustainable biological pesticides and other plant-related products. They are non- toxic to people with few environmental side-effects. These are inexpensive healthy and safe products. High specificity is the characteristic property of biorationals. Biorationals are also known as biopesticides or organic pesticides. They are employed in agriculture, forestry, and gardens. These products are beneficial to growers and farmers for early detection and control of pests. Rising demand for food has prompted growers to produce more food from restricted land without adversely impacting the land. This problem can be overcome with the help of biorational. These products specifically target pests and protect crops from pests, weeds, and other diseases.
The global biorational market can be segmented based on product type, application, industry, and region. Based on product type, the biorational market can be segregated into botanicals, microbial pesticides, minerals, and synthetics. Botanicals are short-lived plant-derived products such as hormones, enzymes, and plant regulators. Microbial pesticides are obtained from living microorganisms and their byproducts. Microbial pesticides can be derived from bacteria, fungi, and viruses. They are highly specific in nature so that they can target only pests, not beneficial organisms. Processed minerals such as iron phosphate, potassium bicarbonate, and phosphate & copper compounds are derived from mining from the Earth. Some products (synthetics) are synthesized by different chemical processes and can be utilized as biorationals. They can be employed as insect growth regulators. Biorationals can be applied in crop stress management, enhanced plant physiology benefits, and root growth management. In terms of application, the market can be divided into agriculture, forestry, public health, aquaculture, turf, structural pest control, and home & garden market. Based on region, the biorational market can be divided into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America.
Highly specific, economical and health- & environment-friendly nature of biorational are the driving factors of the biorationals market. Regular pesticides affect beneficial organisms and decrease crop & soil quality. Thus, several regular pesticides are banned. Biorational can help increase crop yield and productivity of crops and maximize farm quality. Initiatives in Europe such as ‘Green Crop Protection in Europe’, and rising demand for food safety are anticipated to fuel the market. Demand for biorational is rising due to the increase in demand for organic food, food safety concerns among consumers, and stringent regulations for food safety. Short life and rapid breakdown of the products are likely to restrain the biorational market.
The botanicals segment is expected to dominate the biorational market during the forecast period. Europe is estimated to hold a major share of the global market in the near future. High investments in sustainable development are anticipated to fuel the market in the U.S. Demand for neem oil and canola oil (botanicals) is increasing in India and China. The market in Asia Pacific and Latin America is likely to expand at a rapid pace. Global demand for biorationals is rising, especially in Spain, France, Italy, China, and India. Major players operating in the global biorational market include Bayer AG, BASF, Valent Biosciences, Gowan Company LLC, and McLaughlin Gormley King.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.