The Bacillus thuringiensis biopesticide market is expected to register a compound annual growth rate (CAGR) of 16.10% during the forecast period 2021-2028.
Rising demand for consuming uncontaminated food, growing importance of farmers to produce residue-free food, and rapidly increasing competitiveness of the industry are attributed to the growth of the Bacillus thuringiensis biopesticides market. This means that the market value of Bacillus thuringiensis biopesticides will grow from USD 1.8 billion in 2020 to USD 5.94 billion in 2028.
Bacillus thuringiensis belongs to a family of bacteria that can be used in a wide range of applications, such as chemicals in the form of pesticides. Bacillus thuringiensis biopesticides are widely accepted by farmers because they help control moths, mosquito larvae and butterflies. Bacillus thuringiensis biopesticides are available in dry or powder form and contain a mixture of toxin crystals and dried spores. However, there are two ways to apply Bacillus thuringiensis biopesticides to the leaves, or to mix them into the soil to inhibit pest growth.
Bacillus thuringiensis Biopesticides Market is segmented on the basis of Application Mode, Crop Type and Formulation:
1、On the basis of application mode, the Bacillus thuringiensis biopesticide market is segmented into seed treatment, foliar spray, and other applications;
2、On the basis of crop type, the Bacillus thuringiensis biopesticides market is segmented into Cereals & Cereals, Pulses & Oilseeds, Cash Crops, Fruits & Vegetables, and Other Crop Types;
3、On the basis of formulation, the Bacillus thuringiensis biopesticides market is segmented into dry and liquid.
Bacillus thuringiensis biopesticides are widely accepted by farmers because they help control moths, mosquito larvae and butterflies. Bacillus thuringiensis biopesticides are available in dry or powder form and contain a mixture of toxin crystals and dried spores. However, there are two ways to apply Bacillus thuringiensis biopesticides to the leaves, or to mix them into the soil to inhibit pest growth.
Increasing awareness of the ecological properties of Bacillus thuringiensis biopesticides will increase their demand exponentially in the future. Increasing demand for non-toxic pesticides coupled with environmental concerns is another factor driving the growth of the Bacillus thuringiensis biopesticides market. Growth and expansion of the biochemical and biopesticide industry and rising personal disposable income are other drivers for the growth of the Bacillus thuringiensis biopesticide market. Increasing demand for natural fertilizers by farmers will create more lucrative and rewarding growth opportunities for the Bacillus thuringiensis biopesticides market.
However, low adoption rate will pose a great challenge to the Bacillus thuringiensis biopesticides market. Lack of adequate R&D infrastructure in underdeveloped economies will further hamper the growth of the Bacillus thuringiensis biopesticides market. Mature markets for conventional and traditional agricultural inputs will also limit the market for Bacillus thuringiensis biopesticides.
