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"Global Biopesticides Market was Valued at US$ 3.54 Bn in 2019 and it is Expected to Reach More than US$ 11.8 Bn by 2028, Likely to Grow with the CAGR of 14.3% During the Forecast Period."
Biopesticides are derived from natural materials such as plants, animals, bacteria and some minerals which are used to control the effect of weeds, pests, and insects on field crops. Growing health concerns regarding the use of synthetic pesticides, environment-friendly and less or non-toxic nature as compared to synthetic pesticides have also been contributing to the growth of the global biopesticides market.
The Growing Organic Farming & Demand for Organic Food Are Fueling the Growth of The Global Biopesticides Market
According to FiBL‐IFOAM‐SOEL‐Surveys, organic agriculture recorded 20% of growth which is the largest growth ever. Along with it, the global sales of organic food and drink reached USD 97 billion in 2017 from USD 81.6 in 2015. Thus, increasing demand for growing organic agriculture and organic food across the globe which increases the demand for biological pesticides all these factors are likely to drive the growth of the overall biopesticides market.
The Environment-Friendly Nature of Biopesticides and Increasing Support for the Deployment of Biological Solutions Attributed To the Rise in the Demand for Biopesticides
The biopesticides are alternatives to chemical pesticides more cost-effective due to this, they are adopted in both organic farming and IPM systems. Increasing government initiatives to promote the use of biopesticides across the globe the developing countries have simplified the requirement for the registration of biopesticides. These countries also permit the R&D and production unit setups. All these initiatives are creating an opportunity for the development of the biopesticides market, globally.
However, there is still a lack of awareness related to the benefits offered by biopesticides in the considerable part of the world, this factor has been inhibiting the market. While the rapid adoption rate of biopesticides is expected to overcome this challenge.
The Bioinsecticides Product Segment Is Projected To Dominate The Biopesticides Market During The Forecast Period.
The bioinsecticides segment is accounted for the largest share of the overall biopesticides market in 2019. The growing awareness regarding environmental hazards due to chemical insecticides, high prevalence of insect-based infections, and a rise in the number of resistant pests are attributed to the demand. Bioinsecticides are usually less toxic than conventional chemical insecticides with a number of advantages such as residue-free, pollution-free, while also being highly efficient. The growing awareness related to the potential benefits offered by bioinsecticides to manage pests, without compromising the use of conventional sprays and with less pre-harvest duration, are the major factors driving the growth of the market.
The Microbial Biopesticide Segment Is Expected To Share Significant Growth During The Forecast Period.
The microbial biopesticide segment is anticipated as the highest growth in the biopesticide market. The improved performance and cost competitiveness of microbials in addition to increasing arthropod resistance to chemical insecticides drive the demand. The use of microbial insecticides is growing at a rapid rate between 10-25% per year. As microbial pesticides are composed of naturally occurring fungi, bacteria or viruses, they are mostly preferred for organic and residue-free food production. Further, factors such as the higher advantage of selectivity, high affectivity, no adverse effects on humans, plants, and animals and ease of use are responsible for the rapid growth in the adoption of microbial biopesticides.
North America Is Projected To Be the Largest Biopesticides Market over the Forecast Period
North America led the overall market for biopesticides and accounts for more than one-third of the global market alone it represents around 38% of the market for biopesticides. Demand in the region is driven by growing consumer awareness about the ill-effects of synthetic pesticides on human health along with the simple registration process, increased interest in green agricultural practices, and increasing consumer preference for organic products. The stringent regulatory system in the US and Canada regarding the environment and human health has compelled manufacturers to develop biopesticides with low risk to consumers during its application.
Europe Is Projected To Be the Fastest-Growing Region in the Biopesticides Market during the Forecast Period
The European market is expected to register a CAGR of 15.4% during the forecast period owing to the stringent regulations regarding the use of synthetic pesticides that makes Europe the most attractive market in the near future. Some of the factors favoring the market growth in the region are the launching of new products, improved scientific credibility of biopesticides products, increased pressure for greater sustainability in agriculture from the authorities and greater confidence in users.
Prominent players operating in the global Biopesticides market are, Bayer AG, Syngenta International AG, FMC Corporation, Certis USA L.L.C., Novozymes A/S, AGRICHEM, Symborg S. L., Biotech International Ltd, T. Stance & Company Ltd, Summit Chemical LLC, Gujarat State Fertilizers and Chemicals Ltd, and BioSafe Systems LLC.
Biopesticides Market Key segments:
Biopesticides Market, By Product
Biopesticides Market, By Source
- Plant Incorporated Protectant
Biopesticides Market, By Application
- Soil treatment
- Seed treatment
- Root Treatment
Biopesticides Market, By Crop Type
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Others (Ornamentals, Lawns, etc.)
Biopesticides Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America