Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Biopesticides Market Projected to Grow at a CAGR of 15.9% during the Forecast Period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Overview
Biopesticides are made of natural sources such as Bacteria, Animals, Plants, etc. and thus, doesn’t leave any toxic residue. It is likely to gain quick mileage in the years to come owing to increasing awareness about the health benefits of organic food. Market Research Future has recently assessed the global market and revealed that is anticipated to expand at a steady pace during the review period.
The exponential population growth is boosting the demand for food crops. This, in turn, is expected to benefit the growth of the market in the years to come. The developed economies have already exhibited rapid developments in the market. In addition, the developing economies resonate strong growth potential. However, the availability of synthetic pesticides at a lower cost remains an impediment to market growth.
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Key Players and Industry Buzz
Leading players in the global Biopesticides Market include BASF SE, Syngenta, Bayer Crop Science AG, Certis USA LLC, Novozymes Biologicals, Monsanto Company, and DuPont.
In April 2019, STK, a leading Israeli firm in the field of botanical sustainable crop protection, announced a partnership with Summit Agro U.S.A. wherein Summit will become the exclusive distributor of STK products in the U.S.
In February 2019, Ecolibrium Biologicals, a small-scale producer of biopesticides in New Zealand, signed a licensing agreement with Chinese company CoBio to exclusively produce and sell one of their products, Lateral, in China. Support from the Chinese government to sustainable agriculture efforts could prove crucial for the global biopesticides market over the forecast period, as China has the world’s largest consumption figures for synthetic pesticides.
Regional Analysis
The global Biopesticides Market by Region, has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The rising consumption of organic food in the region is expected to drive the growth of the biopesticide market in the region. The U.S. is projected to emerge as one of the most significant country-level markets of the region.
Europe is another important growth pocket of the global biopesticide market. The factors favoring the expansion of the biopesticides market in the region include rising food safety & quality standards, and the adoption of advanced agricultural techniques among others.
Asia Pacific is set to register a relatively higher CAGR during the assessment period. The fast-developing economies such as India and China are the most significant country-level markets of the regional biopesticides market. Meanwhile, South America is projected to dominate the biopesticide market in the Rest of the World.
Browse the Industry data and Information spread across 110 pages with 30 data tables and 17 figures of the report “Biopesticides Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/biopesticides-market-5098
Segment Analysis
Based on type, the global Biopesticides Market has been segmented into bioherbicide, bioinsecticide, bio fungicide, and others. Among these, the bioinsecticide is likely to retain the forefront position through the assessment period. The key advantages offered, such as easy application are expected to boost the growth pace of the market in the years to come.
On the basis of form, the biopesticides market has been segmented into liquid, dry, and others. The liquid segment is prognosticated to exhibit a steeper rise in the growth curve. It is likely to witness an upsurge in demand owing to the increased life span of the product as compared to other forms.
On the basis of application, the global biopesticides market has been segmented into seed treatment, soil treatment, foliar spray, and others. Among these, the foliar spray segment is expected to retain the dominant share of the market and grow rapidly in the years to come.
On the basis of crop, the biopesticides market has been segmented into fruits & vegetables, cereals & grains, oilseeds, and others. At present, the cereals & grains segment holds the largest share of the market and is expected to witness remarkable growth over the next couple of years. In addition, the fruits & vegetables segment is anticipated to witness massive growth across the evaluation period.
Browse Related Report
Biorational Pesticides Market Information by Source (Botanical, Microbials, Minerals, and Others), Mode of Application (Foliar Spray, Soil Treatment, Trunk Injection, and Others), Type, Crop Type, and Region —Forecast till 2023
https://www.marketresearchfuture.com/reports/biorational-pesticides-market-7566
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