Pune, India, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global biopesticides market size was valued at USD 5.61 billion in 2021 and is expected to grow from USD 6.51 billion in 2022 to USD 18.15 billion by 2029, exhibiting a CAGR of 15.77% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Biopesticides Market, 2022-2029.”
Biopesticides are pest control products that are derived from natural materials such as plants, animals, bacteria, and fungi. They are used to control pests and diseases in crops, as well as in public health settings to control insects that transmit diseases. Biopesticides can be used as an alternative to chemical pesticides, which can have negative environmental impacts and can sometimes harm beneficial organisms such as pollinators.
There are three main types of biopesticides: microbial pesticides, plant-incorporated protectants, and biochemical pesticides. Microbial pesticides are derived from microorganisms such as bacteria, viruses, and fungi. Plant-incorporated protectants are produced by genetically modifying plants to express a protein that is toxic to pests. Biochemical pesticides are naturally occurring substances that are toxic to pests, such as pheromones and insect growth regulators.
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Biopesticides are a type of pesticide derived from natural materials or microorganisms to control pests, diseases, and weeds that damage crops and harm the environment. They are considered more environmentally friendly and less harmful to humans, non-target organisms, and beneficial insects compared to synthetic chemical pesticides
List of Key Players Mentioned in the Biopesticides Market Report:
- BASF SE (Germany)
- Syngenta AG (Switzerland)
- Bayer CropScience (Germany)
- Marrone Bio Innovations (U.S.)
- Novozymes (Denmark)
- Koppert Biological Systems (Netherlands)
- BioWorks Inc. (U.S.)
- Gowan Group (Ireland)
- Sumitomo Chemical Co., Ltd. (Japan)
- Certis USA LLC., (U.S.)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 15.77% |
| 2029 Value Projection | USD 18.15 billion |
| Market Size in 2022 | USD 6.51 billion |
| Historical Data | 2018-2020 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Biopesticides Market Growth Drivers | Ever-rising Demand for Organic Food to Play a Crucial Role in Product Growth |
| Phase-out of Key Chemical Active Ingredients to Support Market Growth |
Segments:
Biofungicides Segment to Grow at Notable Pace Owing to Growing Resistance for Numerous Chemical Fungicides among Fungi
The Biofungicides segment is probable to grow at a substantial pace in the coming years. The surging resistance for numerous chemical fungicides among fungi is predicted to boost the demand for substitute-efficient products such as bio fungicides.
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Leading Players Featured in the Research Report:
Companies leading in the biopesticides market are BASF SE (Germany), Syngenta AG (Switzerland), Bayer CropScience (Germany), Marrone Bio Innovations (U.S.), Novozymes (Denmark), Koppert Biological Systems (Netherlands), BioWorks Inc. (U.S.), Gowan Group (Ireland), Sumitomo Chemical Co., Ltd. (Japan), Certis USA LLC., (U.S.) and many more
Microbes' Ability to Refine Nutrient Uptake to Back Notable Growth of Microbial Segment
Microbes have proven their ability to refine nutrient uptake and support the development of residential microbiota of plants.
Foliar Application to Hold Largest Share Due to its Adequate Potency to Upsurge Plant Growth and Efficiency
Foliar application is projected to safeguard a larger revenue chunk in the global marketplace with sturdy growth projections during the mentioned period.
Cereals Segment to Display Substantial Growth Attributed to Growing Demand for Organic Cereals
The escalating cultivation of cereals as they are consumed as a staple across the globe and the huge profit linked with the cultivation of organic cereals are anticipated to boost the utilization of biopesticide among cereal growers.
Report Coverage:
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further aids us to offer trustworthy estimations and test the general market dynamics accurately. Further, our analysts have gained admission to various international as well as regional funded registers for providing up-to-date material so that the stakeholders and business owners invest only in essential zones.
Drivers and Restraints:
Surging Demand for Organic Food to Play a Vital Role in Market Growth
Organic farming is expansively promoted as an epitome of a substitute for conventional methods to diminish the overall influence on the environment. The encouraging growth trajectory of organic agriculture practices is estimated to help the impending growth of biopesticides with robust demand dynamics for natural plant protection products. The huge prominence from governments and other shareholders on the organic and maintainable mode of farming has augmented the product adoption. This is expected to boost the biopesticides market growth during the upcoming period.
However, the low implementation rate of the product compared with chemical agri-inputs in emerging countries can constrain the growth of the market. The traditional and conventional agri-inputs market is well-structured at a global level with a noticeable existence of pivotal giants.
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Regional Insights:
North America to Dominate Backed by Strict Rules Concerning Environment
North America held the largest biopesticides market share at present and it is projected to account for a considerable rank in the market during the forecast period as well. Strict rules and guidelines concerning the utilization of synthetic crop protection chemicals to maintain safety for the environment from harmful impacts are fueling the growth of the regional market.
The demand for biopesticide is elevated in the Asian agriculture sector. The population-rise that is bound to generate pressure on food security is estimated to be more noticeable in Asia Pacific region.
Europe is demonstrating sluggish but gradual growth in the use of biopesticides and is the second largest consumers of these products across the globe.
Competitive Landscape:
Crucial Business-related Announcements by Prime Players to Sway Market Dynamics
Indispensable companies in the market often make important declarations concerning a few business moves, which, in turn, impact the market either positively or adversely. Companies acquire other corporations, launch novel products, involve in partnership deals, sign agreement with government organizations, and so on.
Key Industry Development:
April 2022: FMC Corporation declared the global presentation of its novel brand, Biológicos da FMC, during Brazil's National Biological Week. The novel brand was inaugurated with the goal of rising yield and finding new modes of action and innovative solutions for sustainable agriculture for the upcoming generations.
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Market Segments Includes:
By Type
- Bioinsecticide
- Biofungicide
- Bionematicide
- Others
By Source
- Microbials
- Biochemicals
By Mode of Application
- Foliar Application
- Seed Treatment
- Soil Treatment
- Others
By Crop
- Cereals
- Oilseeds
- Fruits & Vegetables
- Others
By Region
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