Special Report: Agrow Bioformulations 2020

Author: Jim Bullock & David Calvert | Number of pages: 171 | PDF Report |

There is little doubt that the market for biocontrol products in agriculture has increased dramatically over the last few years and will continue to do so over the foreseeable future. Whilst definitions make it difficult to get to precise figures, it is estimated that sales of biocontrol products increased from US$ 0.1 billion in 1993 to around US$ 3 billion in 2016, with a projection of sales of nearly US$ 5 billion in 2020.

The drivers behind the growth forecast for this sector are:

• Increased Pesticide Resistance
  With the increasing use of pesticides, many crops and target pests have developed resistance to traditional pesticides. Strategies to counter this have included pesticide mixtures, rotations but also the inclusion of more natural crop control methods and the use of integrated pest management (IPM).
• Consumer Perception
  In Europe particularly, there is a negative perception from the public of "chemicals" and pesticides and any products which make a claim to be natural are regarded as being "better" and "safer".
• Increased Focus by Regulators/Governments on "Synthetic Pesticides"
  Many of the traditional products for crop protection need their approvals renewing and the regulators are now being increasingly wary of renewing approvals.

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This article was published by S&P Global Commodity Insights and not by S&P Global Ratings, which is a separately managed division of S&P Global.