Looking Ahead to 202430 Apr 2024 20:24
This article is a little old (March 24) but I hadn't seen it before.
https://www.agribusinessglobal.com/agrochemicals/2023-crop-protection-market-review-looking-ahead-to-2024/
The Rise of Biologicals and PGRs
A notable development in 2023 was the promising growth trajectory in the Biologicals and Plant Growth Regulators (PGRs) segments. Growers demonstrated a readiness to substitute synthetic chemicals with biological alternatives, even at a price premium. This shift indicates a significant move towards sustainable farming practices, with value-driven growth in the biologicals space signaling a departure from traditional volume-driven metrics. Nevertheless, specialty crop segments displayed resilience and signs of continued market growth, underlining the sector’s adaptability and the evolving preferences of growers. Value driven growth was evident in most markets with increasing use of biologicals (e.g. U.S., Brazil, France, Spain) — foremost in the Pheromone class of Biocontrol.
The Bright Spots: Biologicals, Horticulture, Patent Developments
In contrast to the challenges, 2024 also promises areas of growth and opportunity. The biologicals sector, with its focus on sustainable and eco-friendly agricultural solutions, is poised for promising expansion. Some key biological products launched recently aim to offer innovative solutions for pest and disease control in agriculture. They utilize natural ingredients like Beauveria bassiana and Bacillus species to target a wide range of agricultural pests including whiteflies, corn leafhoppers, and nematodes, as well as diseases such as leaf blight in rice. These products also focus on enhancing crop resilience and yield by activating the crop’s own defense systems and promoting growth.
Similarly, the fruit and vegetables segments are set to experience growth, offering a silver lining to the broader market adjustments. While lower crop prices pose challenges for farmers, reduced fuel and fertilizer costs are expected to partially offset the impact on profitability. With a number of active ingredients (AIs) in recent years having come off patent, the generic segment will see opportunities for growth. Also for originators opportunities will be created to launch their own innovative formulations in that post-patent space to protect market share, and diversify offerings across a broader crop spectrum and expanded geographical coverage.