The key players profiled in the report have a strong presence in the global biorational pesticides market; these include Valent Biosciences (US), Bayer (Germany), Monsanto BioAg (Germany), BASF (Germany), DowDuPont (US), and Syngenta (Switzerland). These players adopted growth strategies such as expansions & investments and mergers & acquisitions to cater to the increasing demand for biorational pesticides. They are increasing their research & development expenditure to expand their biorational pesticide products portfolio.
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On the basis of type, the biorational pesticides market was led by biorational insecticides segment in 2016. It is one of the most largely commercially available types of biorational pesticides. North American countries are expected to become major markets owing to the high awareness among farmers and this contributes to the growth of the global market in the near future.
The botanical segment dominated the market in 2016. Botanical pesticides contain naturally occurring substances that control pests using a non-toxic mechanism. The substances that control diseases in this category include pyrethrin, azadirachtin, and plant extracts, while botanical oils such as neem oil, canola oil, and jojoba oil drive the growth of this segment.
The biorational pesticides market, on the basis of mode of application, is segmented into foliar spray, soil treatment, and trunk injection. The foliar spray segment covers the largest market share as direct application on leaves through foliar spray is the most effective way of supplying nutrients to plants, which results in enhanced productivity and greater yield; this also leads to rapid absorption and uniform supply of the nutrients to each part of the shoot and root.
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North America accounted for the largest market share for biorational pesticides in 2016, owing to the increase in demand for biorational pesticides in countries such as the US and Canada. However, Asia Pacific is projected to be the fastest-growing market during the forecast period, due to increased awareness and increasing production of organic fruits & vegetables.