Dublin, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation (Dry, Liquid), Crop Type and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global biopesticides market is estimated to be valued at USD 5.5 billion in 2022. It is projected to reach USD 11.3 billion by 2027, recording a CAGR of 15.6% during the forecast period. Biopesticides consists of naturally occurring substances, including biochemicals (biochemical pesticides), microorganisms (microbial pesticides), and beneficial insects that control pests and support plant growth.
Conventional chemical pesticides which have a larger market share at present in the crop protection market, have greater efficiency but are harmful to human and environmental health. Moreover, they have also created a rise in pest resistance. Thus, policymakers across the globe are regulating and banning chemical-based active ingredients, especially in the North American and European regions. This is driving the biopesticides market. Consumer awareness and rise in demand for organic food are also the major factors that support the rise of the market in coming times.
Europe is projected to witness the growth of 16.2% during the forecast period making it the fastest-growing market
The biopesticides market in Europe is growing at a CAGR of 16.2%. This is due to factors such as ban on several chemical-based active ingredients, rising consumer awareness, strict import regulations and the rise in the demand for organic food items. European Union's measures such as Farm to Fork strategy and other flagship legislative proposals are inclined towards minimizing residue in food items to ensure food safety and an environmentally sustainable food system.
Bionematicides segment is projected to grow at a CAGR of 16.8% during the forecast period
Bionematicides are gaining popularity in the market due to rise in cases of nematodes infestation. Nematodes infestation causes extensive crop and financial losses to the cultivators. The per capita income is rising across the globe, which is pushing the demand for high value and cash crops such as sugarcane and horticultural crops. Thus, damage of these crops can cause huge financial losses to the growers which is pushing the demand for bionematicide. Thus, bionematicides segment is projected to grow at the fastest pace out of all segments during the forecast period.
Pests developing resistance to crop chemicals is creating opportunities in the biopesticides market
Plant pathogenic bacteria & fungi and insect pests are developing resistance to chemicals and are able to adapt to crop protection chemicals through mutations, which, in turn, has led to reduced efficacy and pest resurgence. One of the major pathogen species that have developed resistance includes Botrytis cinereal, which affects the production of fruit and vegetable crops both during pre- and post-harvest times.
Excessive spraying activity has led to the development of multi-resistant strains in several countries. While biofungicides cannot be considered an equivalent alternative to chemical protection against Botrytis, there has been an increase in interest toward biological control of the same through the use of plant-based products or antagonistic microorganisms. Some of the major products that are marketed include strains of bacteria (Bacillus spp.) and filamentous fungi (Trichoderma harzianum). These products are often used in controlled environments and were found effective in the control of major leaf and root diseases in crops.
Leading players profiled in this report:
- BASF SE (Germany)
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- UPL Limited (India)
- FMC Corporation (US)
- Marrone Bio Innovations (US)
- Novozymes A/S (Denmark)
- Nufarm (Australia)
- Isagro S.P.A (Italy)
- Certis Biologicals (US)
- Koppert Biological Systems (Netherlands)
- Biobest NV (Belgium)
- SOM Phytopharma India Ltd. (India)
- Valent Biosciences LLC (US)
- STK Bio-Ag Technologies (Israel)
- Andermatt Biocontrol AG (Switzerland)
- IPL Biologicals Ltd. (India)
- Vegalab S.A (US)
- Bioworks Inc. (US)
- Bionema (UK)
Market Dynamics
Drivers
- High Costs Associated with the Development of New Synthetic Crop Protection Products
- Chemical Pesticide Bans and Awareness Programs by Government Agencies
- Increase in Acceptance of Organic Food
Restraints
- Technological Limitations for the Use of Biological Products
Opportunities
- Advancements in Microbial Research Undertaken by Key Players Across Regions
Challenges
- Preference for Chemical Pesticides Among Farmers in Developing Countries
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Bioactive Peptides
8 Biopesticides Market, by Type
9 Biopesticides Market, by Crop Type
10 Biopesticides Market, by Formulation
11 Biopesticides Market, by Source
12 Biopesticides Market, by Mode of Application
13 Biopesticides Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Adjacent & Related Markets
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/mhwwl9
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