Latin America Biorational Market was worth USD 0.42 billion in 2021 and estimated to be growing at a CAGR of 21.4%, to reach USD 0.95 billion by 2026.
Biorationals are essentially insecticides that are effective against the target but are not very harmful to natural enemies. These products are generally derived from the natural sources such as plant extracts, insects pathogens etc. Biorational pesticides have witnessed increasing acceptance among agricultural farm owners as these are efficient in managing pest resistance. This has steered significant demand for major products such as pheromones, neem extracts, essential oils, and repellants over the past few years.
Latin America Biorational Market Drivers:
The pest management system is expected to drive the market during the forecast period. The pesticides which are currently available in the market are synthetic based and cause infections and are harmful if taken internally. As a result, there is an increased need for biobased products. There also has been a rise in the demand for organic food products which in turn fuels the growth of the market. There has an increased awareness among people regarding the hazardous effects of chemical pesticides. However, people are still not aware about the biorational products and their usage which might be a hindrance to the growth of the market.
Latin America Biorational Market - By Product:
Latin America Biorational Market - By Crop Type:
Latin America Biorational Market - By Method of Propagation:
On the basis of geography, the global market is analysed under various regions namely
Some of the key players dominating the market are Koppert B.V., Marrone Bio Innovations, Monsanto Company, The Dow Chemical Company, and Gowan Company LLC, Valent U.S.A. Corporation, Russell IPM limited, Agralan limited, Monsanto Company, Gowan company LLC, Suttera, Syngenta, BASF SE, Isagro S.P.A, and Bayer AG.
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