New York, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Biopesticides are insecticides derived from natural materials such as bacteria, plants, animals, and minerals. Biopesticides are substances used to control agricultural pests through specialized biological effects, as opposed to conventional chemical pesticides. It refers to products containing biocontrol agents, natural organisms, or chemicals derived from natural substances (such as animals, plants, bacteria, or specific minerals). In addition to their genes and metabolites, these agents may also contain their genes. Biopesticide is a method that is less hazardous to humans and the environment than the use of chemicals or pesticides derived from chemicals. Environmental safety and host specificity are two of the most significant advantages of using biopesticides to control agricultural pests.
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The Rising Demand for Hygiene and Quality Food, Easy Residue Management Techniques, and Inexpensive Research and Development Drive the Global Biopesticides Market
According to Straits Research, “The global biopesticides market size worth USD 6.26 billion in 2022. It is expected to reach USD 22.90 billion by 2031, growing at a CAGR of 15.5% during the forecast period (2023-2031).” Today's consumers are more conscious of the products they consume, analyzing the safety and quality of food products. When farmers use biopesticides on agricultural land, the threat posed by synthetic pesticides entering the food chain is diminished. Incorporating biopesticides into an integrated pest management program will significantly reduce the demand for synthetic pesticides without reducing agricultural output. Biopesticides provide superior residue control because they frequently contain non-toxic, naturally occurring substances that do not leave residues. They provide benefits such as managing resistance and residues, limiting the number of applications, and protecting both humans and the environment.
In Europe and other developed nations, there are restrictions on the number of residues permitted in food. Due to the relative safety of the vast majority of biopesticides, there are typically no such restrictions. Many biopesticides are exempt from routine inspection by regulatory agencies and retailers because they do not contain residues. The prohibitively high cost of producing synthetic crop protection agents is another factor influencing the development of biopesticides. Due to its lower cost and quicker development, biopesticide research and development is more appealing to startups and small businesses with limited research funding. Rising consumer demand for food safety and quality, ease of residue management, and low research and development expenditures for novel biopesticide development are expected to drive the global market.
Growing global demand for safer, higher-quality food, along with advancements in market technology, is creating opportunities in the biopesticides market
Today's consumers evaluate the safety and quality of food products because they are aware of and concerned about the products they consume. Consequently, the use of biopesticides on agricultural land decreases the likelihood that the toxicity of synthetic pesticides will enter the food chain. Research into the production, formulation, and delivery of biopesticides could greatly benefit their commercialization. For developing nations to be able to produce and use biopesticides and integrate biological agents into production systems, additional research is required.
In comparison to the market for synthetic pesticides, the regulatory environment for biopesticides is more favorable. Future restrictions on the use of chemical pesticides are most likely to proliferate, which will have a positive impact on the industry. The biopesticide market is anticipated to skyrocket in the coming years, even though the bioherbicide industry is relatively small in many significant locations due to the ban on the most effective chemical herbicides.
Regional Insights
North America's biopesticides industry share expanding at a CAGR of 16.3%. The United States is the region's leading revenue generator. An increase in the area planted with grains, cereals, and oilseeds would substantially impact the number of biopesticides consumed in the United States. Even though biopesticides in grains and cereals are the highest, oilseed applications are expected to increase faster due to the growing demand for oilseed-based products.
There is a direct relationship between the production of oil sources and the consumption of oils derived from them because consumers are incredibly particular about their cooking oil. A growing awareness of biopesticides and their application is another factor driving demand. The prevalence of on-farm demonstrations and applied research is at an all-time high. More than sixty companies are involved in the creation and/or distribution of biopesticides. These factors have a positive impact on the local biopesticides market.
The Asia Pacific is predicted to grow at a CAGR of 14.85% and hold USD 5,179 million by 2031. China holds a dominant position in the region. As part of China's plan to reduce its use of harmful chemical pesticides while promoting sustainable agriculture, the development of biopesticides has been prioritized. China recently surpassed all other nations in biopesticide research and development. As a result, the nation already possesses a comprehensive biopesticide system, including microbial pesticides, biochemical pesticides, botanical pesticides, agricultural antibiotics, and biological pest control.
Key Highlights
- By product, the bio-insecticides section is projected to expand at a CAGR of 15.2% and hold the largest share.
- By formulation, the dry formulation section will likely have the most significant shareholding and expand at a CAGR of 14.9%.
- By ingredient, the microbial pesticide section is projected to advance at a CAGR of 16.85% and hold the largest market share.
- By mode of application, the foliar spray section is forecasted to advance at a CAGR of 14.11% and hold the largest share.
- By application, the crop-based section is projected to expand at a CAGR of 15.81% and hold the most significant revenue in the market.
- By regional segmentation, North America is predicted to dominate the regional market while expanding at a CAGR of 16.3%.
Competitive Players in the Market
- Marrone Bio Innovations
- Bioworks Inc.
- Isagro SpA
- Koppert Biological Systems
- Andermatt Biocontrol AG
- Sumitomo Chemical Co. Ltd
- American Vanguard Corporation
- BASF SE
Market News
- In 2022, in China, BASF established the Chemetall Innovation and Technology Center to develop surface treatment methods.
Global Biopesticides Market: Segmentation
By product
- Bioherbicide
- Bioinsecticide
- Bio-fungicide
- Other Products
By formulation
- Liquid
- Dry
By ingredient
- Microbial Pesticide
- Plant Pesticide
- Biochemical Pesticide
- Other Ingredients
By mode of application
- Foliar Spray
- Seed Treatment
- Soil Treatment
- Post-harvest
By application
- Crop-based
- Non-crop-based
By region
- Asia Pacific
- North America
- Europe
- Africa
- South America
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