Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Global Biopesticides and Biofertilizers Market: A Global and Regional Analysis, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The biopesticides and biofertilizers market was valued at $6.9 billion in 2023, and it is expected to grow at a CAGR of 12.52% and reach $22.46 billion by 2033. Biopesticides and biofertilizers are poised to revolutionize agricultural practices by offering several advantages over conventional chemical inputs. These bio-based alternatives require fewer resources and can potentially mitigate pollution and soil degradation associated with traditional agriculture. 
Market Dynamics
- Market Demand Driver
- Increase in Demand for Organic Food due to Growing Awareness of the Adverse Impacts of Chemical Pesticides and Fertilizers on Human Health and Environment
- Market Challenge
- Technological Limitations for the Use of Biological Products
- Market Opportunity
- Growth Opportunities in Developing Regions such as Asia-Pacific and Rest-of-the-World
Key Market Players and Competition Synopsis in the Biopesticides and Biofertilizers Market
The companies in the biopesticides and biofertilizers market that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the prominent names in the biopesticides and biofertilizers market are:
- Novozymes
- Symborg
- Kiwa Bio-Tech Products Group Corporation
- Vegalab SA
- UPL
- Lallemand Inc.
- T.Stanes and Company Limited
- Chr. Hansen Holding A/S
- AgriLife (India) Private Limited
- Syngenta
- Certis USA L.L.C.
- Andermatt Group AG
- Gujarat State Fertilizers & Chemicals Limited (GSFC)
- Biolchim S.p.A.
- Biobest Group
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
Developments in the Global Biopesticides and Biofertilizers Market
- In September 2023, Biobest Group N.V., in collaboration with Aqua Capital, GIC, and Biotrop management, finalized a binding agreement for Biobest's acquisition of Biotrop Participacoes s.a. This strategic decision may bring about several implications for the involved companies, potentially influencing their market positioning and activities in the biopesticides and biofertilizers market.
- In August 2023, Bionema Group Ltd., a leading U.K.-based developer and manufacturer specializing in biocontrol technology, biostimulants, and biofertilizers, unveiled a new range of biofertilizer products designed for various uses across the country. These applications encompass agriculture, horticulture, forestry, sports turf, and amenities. The fresh line comprises four biofertilizers, each containing live microbes. These microbes play a crucial role in enhancing plant nutrition by either mobilizing or increasing the accessibility of nutrients in soils and substrates.
- In May 2023, Renaissance BioScience Corp., a leading figure in bioengineering for the global agriculture and food industries, announced that its request for a field study had been authorized by the Pest Management Research Agency (PMRA) of the Canadian government. The approval is related to the company's groundbreaking RNA interference (RNAi) biopesticide delivery technology, recognized for its environmentally friendly and sustainable features.
- In November 2022, Taiwan successfully developed a biopesticide devoid of toxins, offering protection against stubborn pests. The country is poised to be the first to undertake large-scale production of this innovative product. The achievement signifies a significant step forward in agricultural innovation and pest management for Taiwan in the biopesticides and biofertilizers market.
Market Segmentation
Segmentation 1: by Crop Type
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
Cereals and Grains to Dominate the Global Biopesticides and Biofertilizers Market (by Crop Type).
Segmentation 2: by Product Type
- Biofertilizers: Nitrogen Fixing, Phosphate Stabilizers, and Others
- Biopesticides: Bioinsecticides, Biofungicides, Bioherbicides, and Others
Biopesticides to Dominate the Global Biopesticides and Biofertilizers Market (by Product Type).
Segmentation 3: by Source
- Microorganism: Bacteria, Fungi, and Others
- Plant-Incorporated Protectants
- Biochemical
Microorgansim to Dominate the Global Biopesticides and Biofertilizers Market (by Source).
Segmentation 4: by Formulation
- Liquid
- Solid
Liquid to Dominate the Global Biopesticides and Biofertilizers Market (by Formulation).
Segmentation 5: by Region
- North America: North America, U.S., Canada, and Mexico
- Europe: Germany, U.K., France, Italy, Spain, and Rest-of-Europe
- Asia-Pacific: China, Japan, Australia and New Zealand, India, Indonesia, and Rest-of-Asia-Pacific
- Rest-of-the-World: South America and Middle East and Africa
North America led the global biopesticides and biofertilizers market owing to a combination of factors that underscore the region's commitment to sustainable agriculture. Stringent regulations on chemical pesticide and fertilizer usage in the U.S. and Canada have driven farmers to adopt eco-friendly alternatives, contributing to the market's growth.
Additionally, heightened awareness among North American consumers about the environmental and health impacts of synthetic inputs has led to an increased demand for organic produce, compelling farmers to embrace biopesticides and biofertilizers. Government initiatives and support for sustainable agriculture practices, such as the Organic Certification Program in the U.S., have incentivized the adoption of bio-based solutions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2023-2033 |
| Estimated Market Value (USD) in 2023 | $6.9 Billion |
| Forecasted Market Value (USD) by 2033 | $22.46 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/u58uk4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
