#Biocontrol Industry | Opportunities | Challenges The global 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% during the forecast period. 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. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=216657040 Opportunities: Pests developing resistance to chemical pesticides Major Site-specific pesticides have been able to provide crop protection over the past few decades. However, plant pathogenic bacteria & fungi and insect pests are developing resistance to chemicals and can adapt to crop protection chemicals through mutations, which, in turn, has led to reduced efficacy and pest resurgence. This rapid erosion of fungicidal activities against resistant pathogens represents a major challenge for the growth of the chemical pesticides market and an opportunity for market. Challenges: Preference of agricultural producers in emerging economies for synthetic pesticides Asia-Pacific and other emerging markets are extremely dynamic and fluid. In contrast to farmers in the West, those in these areas have modest landholdings. They also have little purchasing power and are vulnerable to economic swings. Additionally, local growers are unaware of the benefits of biocontrol and organic methods. As a result, they are more profit-driven and concentrated on effective production that can produce outcomes quickly. Although there are some minimal government rules, they are not as rigorous in emerging nations. As a result, in these areas, farmers favour chemical pesticides. However, import restrictions and a steady rise in cultivator knowledge are persuading farmers to choose biosolutions which will steadily push the demand for biocontrol crop protection solutions during the forecast period. Read more: https://www.marketsandmarkets.com/Market-Reports/biocontrol-market-216657040.html The key players in this market include BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), and Corteva Agriscience (US).

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