Bio-insecticides market for thrips control worth 418.3 million USD by 2020

According to the report "Bio-Insecticides Market for Thrips Control by Crop (Fruits, Vegetables & Flowers), Formulation (Liquid, Water-dispersible Granules, Wettable Powder & Pellets), Active Ingredients (Predators, Parasites & Biorationals), and by Region - Global Forecasts to 2020", the bio-insecticides market for thrips control is estimated to be valued at USD 170.6 million in 2015. The market is projected to reach USD 418.3 million by 2020 at a CAGR of 19.7% from 2015 to 2020.

Quality, environment-friendliness, and reduced toxicity of bio-insecticides have been of importance to the growth of the bio-insecticides market for thrips control. Thrips hamper the appearance of fruits and vegetables by ingesting the plant juices and puncturing the cells of leaf surfaces thus destroying them and reducing their commercial value. Bio-insecticides are increasingly used for destroying those thrips in a biological manner without affecting the quality of the product and also the environment. Hence, bio-insecticides will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of bio-insecticides which can be used for specific pests.

Strong product platform provided by the fruits segment
Thrips mainly affect fruits, vegetables, and flowers, and bio-insecticides are applied to them to destroy or kill those insects. Fruits are the major crop type for the use of bio-insecticides followed by vegetables and flowers. The demand for bio-insecticides is increasing in the market for biological pest control due to promising results of bio-insecticides for controlling thrips infection and maintaining the quality of the product.

Significant growth observed in liquid formulations
The major formulations used for the application of bio-insecticides are liquid formulations, water-dispersible granules, wettable powder, and pellets. The liquid formulations of bio-insecticides are the most preferred due to their advantages such as longer shelf-life, easy handling, transportation, cost-effectiveness, and sustainability.

Success in the North American region
North America is one of the largest contributors in the bio-insecticides market for thrips control due to the increase in the usage of biological crop-protection solutions. The U.S. and Canada constituted the largest country markets in the North American region in 2014. The well-established economies allowing investments in research & development, government involvement toward the growth of the agricultural sector, and organizations educating farmers about bio-based agricultural techniques are the major factors influencing the growth of the bio-insecticides market for thrips control.

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