The Latin America, Middle East and Africa Bioinsecticides Market would witness market growth of 11.0% CAGR during the forecast period (2023-2030).In the year 2026, the LAMEA market's volume is expected to surge to 115.0 Kilo Litres, showcasing a growth of 10.8% (2023-2030).
The emphasis on eco-friendly and sustainable agricultural practices has increased interest in plant-based bioinsecticides as alternatives to chemical pesticides. Consumers and regulatory agencies support products that have minimal environmental and human health impact. The adoption of bioinsecticides in cereals and grains has increased due to several factors, including environmental concerns, consumer demand for healthier and more sustainable food, and the need for effective pest management.
Increasing consumer awareness about the residues of chemical pesticides in food and their potential health impacts has driven demand for food products to grow with minimal pesticide use. Cereals and grains are staple foods, and consumers are intending to pay a premium for products labeled as pesticide-free or organic. Advances in biotechnology and genetic engineering have enhanced microbial strains used in bioinsecticides. This includes creating strains with improved insecticidal properties, increased persistence, and the ability to target specific pest species.
Many countries in Latin America have rich biodiversity and are increasingly aware of the ecological impact of chemical pesticides. As a result, there is a growing interest in using bioinsecticides, which are generally considered more environmentally friendly and have minimal impact on non-target organisms. International organizations like the United Nations and the African Union advocate for sustainable agriculture, and bioinsecticides fit well within this paradigm. African countries such as Kenya, Ethiopia, and South Africa are significant exporters of agricultural products. Hence, all these supportive elements will propel the expansion of the regional market.
The Brazil market dominated the LAMEA Bioinsecticides Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.7 Million by 2030. The Argentina market is estimated to grow at a CAGR of 10.7% during (2023 - 2030). Additionally, The Egypt market would exhibit a CAGR of 11.9% during (2023 - 2030).
Based on Source, the market is segmented into Microbials, Plants, and Others. Based on Application, the market is segmented into Cereals & Grains, Oilseed & Pulses, Fruits & Vegetables, and Others. Based on countries, the market is segmented into Brazil, Argentina, Egypt, Morocco, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Bioinsecticides Market is Projected to reach USD 189.9 Million by 2030, at a CAGR of 10.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include BASF SE, Bayer AG, Certis USA LLC (Mitsui & Co., Ltd.), Novozymes A/S (Novo Holdings A/S), Biobest Group NV, Syngenta AG Group, Nufarm Ltd., Sumitomo Chemical Co., Ltd., Ginkgo Bioworks Holdings, Inc., and Vestaron Corporation
By Source (Volume, Kilo Litres, USD Thousands, 2019-2030)
By Application (Volume, Kilo Litres, USD Thousands, 2019-2030)
By Country (Volume, Kilo Litres, USD Thousands, 2019-2030)
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