Dublin, Nov. 05, 2024 (GLOBE NEWSWIRE) -- The "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides), Crop Type (Cereals & Grains, Oilseeds & Pulses), Formulation (Liquid and Dry), Source (Microbials, Biochemicals), Mode of Application, & Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global biopesticides market is estimated at USD 7.72 billion in 2024 and is projected to reach USD 15.66 billion by 2029, at a CAGR of 15.2% during the forecast period.
The adoption of AI in the biopesticides industry is transforming product development, enhancing pest control effectiveness, and optimizing market strategies. Companies, such as FMC Corporation, are using AI to rapidly discover and commercialize new biopesticides.
In May 2024, FMC Corporation announced a collaboration with Optibrium, the lead AI solutions company for small molecule discovery, as part of its strategic move to expand its discovery process. Coupled with Optibrium's Augmented Chemistry AI technologies, this will speed up the discovery of promising compounds and optimize their properties in the development of new sustainable solutions for growers. As AI continues to play a critical role in sustainable product development, it positions the biopesticides market for significant growth and innovation.
Opportunities and disruption in the biopesticides market
Biopesticides offer significant business opportunities for both farmers and manufacturers, driven by the increasing shift toward sustainable agriculture. For the farmer, the use of biopesticides can reduce dependency on chemical pesticides, improve crop quality, and enjoy consumers' demand for ecological-friendly products, thus opening up improved profitability and access to markets.
Manufacturer benefits from this trend in that the global demand for sustainable agricultural inputs, which are increasing in demand, provide opportunities to expand the product portfolios, invest in R&D, and tie up strategic alliances. Thus, the prospects of this emerging market landscape are promising and lead to long-term sustainability and growth across the agricultural supply chain. The biopesticides market is experiencing significant disruptions driven by technological advancements, regulatory changes, and evolving consumer preferences.
Some of the key disruptions in the biopesticides market include:
- AI-driven product discovery: Artificial intelligence (AI) and machine learning are accelerating the identification and optimization of active compounds in biopesticides, which help in fast and efficient product development.
- Advanced delivery technologies: Innovations like microencapsulation and controlled-release formulations improve the erformance of biopesticides by enhancing their efficiency and durability.
- Precision application technologies: The integration of drones, smart sensors, and GPS-based tools helps in accurate and efficient application of biopesticides, hence reducing the wastage of product.
In 2023, Bioinsecticides stood as the major segment within the type segment of the biopesticides market
The bioinsecticides hold a major share in the segment type of biopesticides market because of their potential to target an enormous range of insect pests while remaining nontoxic to many other beneficial organisms. These include biopesticides emanating from natural sources, bacteria, fungi, and plant extracts that reportedly are harmless and serve as alternatives for chemical insecticides.
Due to increasing awareness of pesticide resistance and lethal effects on the environment and human health from synthetic chemicals, bioinsecticides have emerged among the favored options for integrated pest management. Its aptitude for sustainable pest control delivery across different crops, especially high-valued fruit and vegetable production, sustained the leading edge in the biopesticides market.
Within the formulation segment, liquid formulation holds the highest share
Liquid formulation holds the maximum share in the biopesticides market due to its wide usage and versatility. They are preferred for the ease of application and better coverage of large acres. Liquid biopesticides provide a high active content, which is required in commercial formulation as they aid with spray drifting. Rovensa Next launched a new biofungicide named Milarum in Brazil in June 2024. FMC India introduced ENTAZIA biofungicide in August 2023. Both are liquid products in form, bringing extra versatility and value to their applications.
Europe is expected to grow at the highest rate in the global biopesticides market
The European region is expected to record the highest growth rate in the global pesticides market due to increasing demand for organic and sustainable farming practices, stringent environmental regulations, and strong governmental support towards environmental-friendly crop protection solutions. The regional market has concentrated on the decline in the utilization of chemical pesticides, increasing integrated pest management, thereby accelerating the demand for biopesticides and other alternative solutions in the region. The Farm to Fork strategy by the European Commission includes the ambition of using 25% of EU farmland for organic farming by 2030.
An action plan is designed within the strategy that offers direct financial support to organic producers on a per-hectare payment basis, thus incentivizing the adoption and long-term maintenance of organic farming practices. This kind of incentive will go a long way in fast-tracking the conversion process to organic agriculture. These per-hectare payments are justified to incentivize the positive externalities associated with organic farming and are partly financed by pesticide taxes. This approach creates a favorable environment for the biopesticides market in Europe.
Competitive Landscape
Key players in this market include BASF, Bayer, Syngenta, UPL, Corteva, FMC, Nufarm, Sumitomo Chemical Co., Certis USA, Bioceres Crop Solutions, Novonesis Group, Koppert, Biobest Group, Gowan Company and Lallemand.
Research Coverage:
The report segments the biopesticides market based on type, crop type, mode of application, source, formulation, and region. In terms of insights, this report has focused on various levels of analyses - the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the biopesticides market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services, key strategies, Contracts, partnerships, and agreements. New product launches, mergers and acquisitions, and recent developments associated with the biopesticides market. Competitive analysis of upcoming startups in the biopesticides market ecosystem is covered in this report.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 354 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $7.72 Billion |
| Forecasted Market Value (USD) by 2029 | $15.66 Billion |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Attractive Market Opportunities for Players in Biopesticides Market
- North America: Biopesticides Market, by Source and Country
- Biopesticides Market: Share of Major Countries
- Biopesticides Market, by Type and Region
- Biopesticides Market, by Formulation and Region
- Biopesticides Market, by Source and Region
- Biopesticides Market, by Mode of Application and Region
- Biopesticides Market, by Crop Type and Region
Macroeconomic Outlook
- Growth in Organic Agricultural Practices
- Favorable Agricultural Subsidies and Support Programs from Governments Across Different Countries
Market Dynamics
Drivers
- Increase in Demand for Fruits and Vegetables
- Chemical Pesticide Bans and Awareness Programs by Government Agencies
- Increasing Organic Food Sales
Restraints
- Technological and Environmental Constraints
- Slow and Variable Performance
Opportunities
- Advancements in Microbial Research Undertaken by Key Players Across Regions
- Adoption and Increase in Integrated Pest Management (IPM) Strategies
Challenges
- Higher Cost of Biopesticides Than Chemical Pesticides
- Lack of Awareness and Technical Knowledge of Biopesticides Among Farmers
Case Study Analysis
- Koppert Biological Systems Acquired Geocom to Focus on Precision Agrifarming
- Enhancing Biopesticide Performance with BASF's Agnique Biohance Adjuvants
- Addressing Challenges of Phytosanitary Defense with Syngenta's Biosolutions
Biopesticides Market, by Type
Bioinsecticides
- Bacillus Thuringiensis - Wide-Scale Availability, Target-Specificity, and Efficiency
- Beauveria Bassiana -Availability in Various Formulations
- Metarhizium Anisopliae -Effective in Controlling Caterpillars
- Verticillium Lecanii -Wide Applications in Ornamentals, Vegetable Crops, Nurseries, Lawns, and Vegetable Field Crops
- Baculovirus - Significant Demand as Effective Biocontrol Tool for IPM Programs
Biofungicides
- Trichoderma - Easy Availability and Long Shelf Life Encouraging Adoption Among Farmers
- Bacillus - Development of Bacillus-based Products to Witness Significant Demand for Biofungicides
- Pseudomonas - Rise in Demand for Pseudomonas-based Biofungicide for Seed-Borne Diseases
- Streptomyces - Eliminate Pathogenic Antagonists by Secreting Volatile Compounds
Bionematicides
- Paecilomyces Lilacinus - Promising as Biocontrol Agent for Controlling Growth of Root-Knot Nematodes
- Bacillus Firmus - Effective for Larvae and Adult Nematodes
- Pasteuria Species - Effective Against Plant-Parasitic Nematodes
Biopesticides Market, by Source
Microbes
- Reduced Development Costs for Microbes, Pest-Specificity, and Residue-Free Nature Biopesticides
- Bacteria
- Fungi
- Virus
- Protozoa
Biochemicals
- Broad Spectrum Activity to Increase Adoption
- Semiochemicals
- Plant Extracts
- Organic Acids & Others
Beneficial Insects & Other Macrobials
- Natural and Unique Mode of Action and Convenient Application to Spur Usage of Beneficial Insects
- Predators
- Parasitoids
Biopesticides Market, by Formulation
Liquid
- Emulsifiable Concentrates - Ease of Handling and Requires Less Agitation
- Suspension Concentrates - Suspension Concentrates to be Safe for Operator and Environment
- Soluble Liquid Concentrates - Soluble Liquid Concentrates Tend to Have Lower Viscosities Than Suspension Concentrates
Dry
- Dry Granules - Limited Application Under UV Light
- Water-Dispersible Granules - Water-Dispersible Granules to be Relatively Dust-Free with Good Storage Viability
- Wettable Powders -Fine Wettable Powders Require Adequate Safety Measures while Handling
Biopesticides Market, by Mode of Application
- Seed Treatment - High Demand for Seed Coating in Commercial Agriculture Operations
- Soil Treatment - Lesser Soil Contamination and Increasing Demand for Organic Food
- Foliar Spray - Quick, Effective Application and Rise in Demand for Horticulture Crops
Biopesticides Market, by Crop Type
Cereals & Grains
- Corn - Corn Affected by Fall Armyworm
- Wheat - Aphids Causing Severe Damage to Wheat Crop
- Rice - Bacillus Thuringiensis to be Effective Against Leaf Folder and Stem Borer
Oilseeds & Pulses
- Soybean - Infestation from Root-Knot Nematodes to be Severe in Soybean Crops
- Sunflower - Preference for Sunflower Oil and Confectionery Value of Sunflower Seed to Drive Demand
Fruits & Vegetables
- Root & Tuber Vegetables - Range of Pests, Diseases, and Nematodes Cause Economic Losses in Root & Tuber Vegetables
- Leafy Vegetables - Rapid Use of Bacillus Subtilis, Myrothecium Verrucaria, and Streptomyces Lydicus
- Pome Fruits - Biocontrol Agents Found to be Effective on Pome Fruits
- Berries - Biological Solutions Augmenting Export of Berries Under Increasingly Stringent Regulations
- Citrus Fruits - Citrus Canker Disease Boosting Use of Antagonists
Company Profiles
Key Players
- BASF
- Bayer
- Corteva
- Syngenta
- FMC
- UPL
- Sumitomo Chemical Co.
- Nufarm
- Novonesis Group
- Bioceres Crop Solutions
- Koppert
- Certis USA
- Gowan Company
- Biobest Group
- Lallemand
Other Players (SMEs/Startups)
- IPL Biologicals
- Rovensa Next
- Vestaron
- Agrilife
- STK Bio-AG Technologies
- Kay Bee Bio Organics
- Andermatt Group
- Genica
- Seipasa
- Botano Health
For more information about this report visit https://www.researchandmarkets.com/r/msi7a4
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