Client’s Goals

Our client, a South Korean biopesticides manufacturer, engaged MarketsandMarkets to grow revenues. We offered detailed insights into the shifts in revenue sources of our client’s clients and their clients. Our team expanded the understanding of the biopesticide market penetration at the global level. We defined and solved a series of problems that helped the client in generating revenue impact. A few of the key questions answered during the engagement were:

• Understanding of the type of biopesticide to focus on
• Countries to prioritize for biopesticide consumption
• Formulations and mode of applications to focus on
• Insights into offering/value proposition to build for target customers
• Insights into market shares for all types of biopesticides at the regional level

Our Approach

For each biopesticide type, we assisted the client with an outside-in perspective on the market potential and identified the key biopesticide manufacturers and their production capacities in various regions through access to our AI-driven market intelligence platform, KnowledgeStore. Further, we identified the chief crops cultivated by growers, the types of pests infecting crops, the types of diseases observed in crops, as well as the harmful insects found on crops in each country. Our analysts also helped them better understand the dosage of biopesticides for key crops. We further helped them identify the market share analysis for each type of biopesticide at the global level. Our team formulated a comparative analysis by conducting interviews to understand consumer preferences pertaining to pesticides and biopesticides, and why a consumer opts for a pesticide and not a biopesticide, and vice-versa. This helped our client service team to refine our client’s product development strategies to accelerate their market entry.

Revenue Shifts Identified

More than 50% of the pest control services are sought to control rodents and insects such as mosquitoes and cockroaches in the Asia Pacific region. Termite control has been one of the fastest-growing segments in the region, especially in the construction and commercial sectors in urban areas.

Interconnections

In urban areas, increasing infrastructure development has led to a higher requirement for pest control services to prevent possible damages that can be caused by termites and rats in the Asia Pacific region. Growing commercial sectors including public places, malls, and hospitals have been focusing on maintaining public sanitation and hygiene to comply with state regulations. These needs and regulatory demands have been acting as a catalyst for the growth of the pest control market in the region.

Unknowns Identified

The development of the tourism and hospitality sector in the Asia Pacific region has been a significant factor in the growth of urbanization and, in effect, has been driving the demand for pest control products. The growth of the hospitality sector in developing countries such as Thailand, Vietnam, and India have boosted the growth of the pest control business in a better way.

Revenue Impact (RI)

Our insights helped the client to identify key biopesticide manufacturers in regions and countries. The market share breakdown insights helped them to outline their future business tactics. The client was able to grow their biopesticide business using our recommendations, accumulating a revenue of USD 45 million in the last 2 years.