Los Angeles, January 31, 2020 -Bacillus Thuringiensis has largescale applications in agriculture and it is largely used in insecticides, fungicides, and herbicides. Increasing demand for Bacillus Thuringiensis is due to its usage in boosting the fertility of the soil, combating root diseases, and protecting crops from pests. A study on its various applications reveals favorable factors influencing the growth of the market. In a report titled, “Global Bacillus Thuringiensis Research Report, Growth Trends and Competitive Analysis 2019-2025,” QY Research offers a broad spectrum of understanding, on the findings of the study. The global Bacillus Thuringiensis market is likely to collect the value of US$ 314.3 Mn by the End of 2025 from a prior valuation of US$ 204.2 Mn in 2018, exhibiting a robust CAGR of 6.3% from 2019 to 2025.
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Global Bacillus Thuringiensis Market – Growth Drivers
Increasing demand for bio-pesticide to produce quality crops is anticipated to boost the growth of the market
Support initiatives by governments for the adoption of Bacillus Thuringiensis (BT) based products in agriculture due to its effectiveness in controlling pests are likely to propel the growth of the market
Rules and Regulations about the use of chemical pesticides in agriculture has led to increasing usage of nontoxic alternatives such as sprays containing BT, which are biodegradable and non-toxic
Eco-friendly BT based products to Expand the Growth of the Crops Segment
The application segment of the market is classified into Crops, Fruit & Vegetables, Gardening, Urban Greening, Forest, Crops, and others. Chemical-based pesticides hamper the quality of soil resulting in growing acceptance for eco-friendly and nontoxic BT based bio-pesticides are likely to expand the growth of the Crops Segment. The type segment is divided by the authors of the report into Bacillus Thuringiensis Aizawai, Bacillus Thuringiensis Serotype Israelensis, Bacillus Thuringiensis Kurstaki, and others.
North America is Likely to Offer a Lucrative Growth Opportunity
The wide adoption of BT based products in agriculture due to high awareness regarding its usage and its benefits in North America is expected to create a lucrative opportunity for the market. The presence of major companies in Europe and high acceptance for bio pesticides in countries such as Germany is likely to benefit the growth of the market. The Asia-Pacific is expected to witness significant growth due to the rising need to increase agricultural output.
Key Players to Focus on Product Innovation
Some of the key players operating in the market are FMC, Certis, USA, Fujian Pucheng Green Shell Biopesticide, Shaanxi Microbe Biotechnology, King Biotec, Wuhan Unioasis Biological, Shaanxi Microbe Biotechnology, Yangzhou Luyuan Bio-Chemical, Bonide, Phyllom BioProducts Corporation, and Becker Microbial Products. Market players are involved in product innovation, partnerships, mergers, and acquisitions to consolidate their position in the market.