Jersey City, NJ, March 21, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Biopesticides Market Size, Share & Trends Analysis Report By Type (Bioinsecticides, Biofungicides, Bionematicides, Bioherbicides), Crop Type (Cereal & Grains, Oilseeds & Pulses, Fruits & Vegetables), Formulation (Liquid, Dry), Source (Microbial, Biochemical And Beneficial Insects), And Mode Of Application (Seed Treatment, Soil Treatment, Foliar Spray)- Market Outlook And Industry Analysis 2031"
The global biopesticides market is estimated to reach over USD 20.78 billion by 2031, exhibiting a CAGR of 14.47% during the forecast period.
The biopesticides market is experiencing significant growth, driven by various factors. Increasing demand for organic food, stringent government regulations, and the rise in pest resistance are some of the primary drivers of this growth. Consumers and farmers are becoming more aware of the benefits of biopesticides, such as reduced environmental impact, improved crop quality, and increased yields. Technological advancements and increasing investment in research and development also contribute to the biopesticide market's growth.
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The global biopesticides market is expected to expand in the forthcoming years, driven by the rising demand for sustainable agriculture, growing consumer awareness of environmental issues, and the increasing trend of integrated pest management. While biopesticides are often effective, synthetic pesticides may be less potent than they are, and environmental conditions can impact their efficacy. This can make them less attractive to farmers who must ensure high yields and pest control.
Recent Developments:
• In March 2020, Marrone Bio Innovations, a leader in creating efficient, secure integrated pest management (IPM) solutions, and Anasac, a renowned biotechnology business, signed a contract. The development and distribution of the bioinsecticides Venerate and Grandevo in Chile are the goals of this cooperation.
• In August 2019, Bayer AG, a prominent pharmaceutical and life sciences corporation, and Certis USA LLC, a leading manufacturer and supplier of powerful biopesticides and conventional chemical pesticides, announced a partnership. The distribution of the requiem prime bioinsecticide in the United States is the goal of this partnership.
List of Prominent Players in the Biopesticides market:
- Agrolink
- Biological Products Industry Alliance
- BASF SE
- Bayer AG
- Biointrant
- Biobest Group
- Bionema
- Bioworks, Inc.
- CairoChem
- Certis Biologicals
- Chema Industries
- Corteva Agriscience
- FMC Corporation
- Indigo Ag
- IPL Biologicals Ltd.
- Isagro S.P.A
- Koppert
- Marrone Bio Innovations
- Novozymes A/S
- Nufarm
- Seipasa SA
- SOM Phytopharma India Ltd.
- STK Bio-Ag Technologies
- Syngenta AG
- UPL Limited
- Valent Biosciences LLC
- Vegalab S.A
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Biopesticides Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 6.27 Bn |
| Revenue forecast in 2031 | USD 20.78 Bn |
| Growth rate CAGR | CAGR of 14.47% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, Volume (KT), and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Type, Crop Type, Formulation, Source, And Mode Of Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
Consumers and farmers are becoming more aware of the benefits of using biopesticides, such as reduced environmental impact, improved crop quality, and increased yields. Advances in biotechnology have led to the development of more effective and efficient biopesticides, which are increasingly used in agriculture. Many companies and governments are investing heavily in research and development to develop new biopesticides, which is expected to further drive the growth of the biopesticide market in the coming years.
Challenges:
Biopesticides may not be as effective as synthetic pesticides in controlling pests, which can limit their adoption by farmers. Biopesticides often have a shorter shelf life than synthetic pesticides, limiting their availability in the market and increasing storage and transportation costs. The registration process for biopesticides can be complex and time-consuming, limiting the number of products available in the market. Many farmers need to be made aware of the benefits of using biopesticides or how to use them effectively, which can limit their adoption. Pests can develop resistance to biopesticides over time, limiting their long-term effectiveness. These are some of the primary challenges faced by the biopesticides market.
Regional Trends:
The Asia Pacific biopesticides market is expected to register a major market share in revenue and is anticipated to develop at a high CAGR shortly. The governments of several countries in the region, such as India, Japan, and Australia, have implemented approaches and programs to encourage the use of biopesticides. For example, the Indian government has launched the National Bio Pesticides Programme to support the development and use of biopesticides in the country. Overall, the growing demand for organic and sustainable agricultural practices, favorable government policies, and the large agricultural sector in the region are expected to drive the growth of the biopesticides market in Asia Pacific in the coming years.
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Segmentation of the Biopesticides market-
By Type
- Bioinsecticides
- Biofungicides
- Bionematicides
- Bioherbicides
- Other Biopesticides
By Crop Type
- Cereals & Grains
- Corn
- Wheat
- Rice
- Other cereals & grains
- Oilseeds & Pulses
- Soybean
- Sunflower
- Other oilseeds & pulses
- Fruits & Vegetables
- Root & Tuber Vegetables
- Leafy Vegetables
- Porme fruits
- Berries
- Citrus Fruits
- Other Fruits & Vegetables
- Other Crop Types
By Formulation
- Liquid
- Emulsifiable concentrates
- suspension concentrates
- Soluble liquid concentrates
- Dry
- Dry granules
- Water dispersible granules
- Wettable powders
By Source
- Microbials
- Biochemicals
- Beneficial insects
By Mode of Application
- Seed Treatment
- Soil Treatment
- Foliar spray
- Other Modes of Application
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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