Biopesticides Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMAG124 | Last Updated On: Jul 06 2022 | Available Formats

> Global Biopesticides Market Expected to reach a high CAGR of 17.90% during the forecast period 2022-2029: DataM Intelligence

Global Biopesticides Market is segmented By Product Type (Bioherbicide, Bioinsecticide, Biofungicide, Others), By Crop Type (Grain & Cereal, Oilseed, Fruit & Vegetable, Turf & Ornamental Grass, Others), By Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray, Post-Harvest), By Source (Microbial Pesticide, Biochemical, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview:

Biological pesticides, commonly referred to as biopesticides are a class of plant protection chemicals that are derived from natural sources such as bacteria, plants, and animals. These formulations protect field crops from insects, herbs, rodents, and various other pests. Biopesticides evolved as a sustainable alternative to conventional chemical pesticides owing to their natural and environment-friendly operation on pests.

The global biopesticides market valued USD 4 billion in 2022 and is estimated to reach USD XX million by 2029, growing at a CAGR of 17.9%

Market Dynamics:

The growing interest in organic food is driving the market

The biopesticides market has been growing faster than its chemical counterparts owing to rapidly growing consumption in organic farming practices. The enormous demand for farm produce owing to the rising population led to extensive use of agrochemicals that increase yield. However, widespread use of these chemicals resulted from an adverse impact on the environment and living species. Thus, the need for all-natural agricultural inputs poised globally, leading to the growth of biopesticides. Biopesticides evolved as an integral part of sustainable agriculture by ensuring organic claim to the produce. Rapidly growing farming trends such as organic farming, indoor farming, and precision farming will support the growth of biopesticides. Furthermore, the increasing crop resistance to synthetic pesticides is motivating farmer communities towards novel biopesticide formulations

However, the high cost of biopesticides over conventional pesticides is the primary factor hindering the growth of the global biopesticides market. Also, limited scientific evidence towards the efficacy of biopesticides over certain pests, crop categories, and climatic conditions is restricting the adoption of biopesticides

Market Segmentation:

Bioinsecticides is leading in the global biopesticides market

The global biopesticides market is segmented based on product type into bioinsecticides, bioherbicides, bio fungicides, bio nematicides, and others. Bioinsecticides evolved as the largest segment owing to the large-scale demand for insecticides in agriculture. Insects have been the most widely affecting pest category globally and resulting in huge economic damages. Regulatory restrictions on several synthetic insecticide groups will propel the growth of the bioinsecticides market. The sales revenue of bioinsecticides amounted to USD XX million in 2020 which is nearly XX% of the global biopesticides market. Microbial insecticides derived from single-cell organisms such as bacteria, viruses, fungi, and protozoa are the largest category by origin in the bioinsecticides market.

 

Geographical Penetration:

The United States is dominating the global bioinsecticides market

North America is the largest market for biopesticides accounting for over 45% of the global sales revenue in 2019. The early adoption of biopesticides in the U.S. and large-scale utilization across farms in the U.S. and Canada led to market growth in the region. The demand for organic food products has been rapidly growing in the region with consumer awareness towards adverse health effects of synthetic agrochemicals. This has motivated the farm producers towards the use of biological inputs. Also, the stringent regulatory environment surrounding the pesticides industry led to the growth of biopesticides. Asia Pacific region surpassed Europe as the second-largest regional market with a revenue share of over 25% in 2019. With significant potential for penetration in Indian and Chinese farms, the biopesticides market is witnessing significant growth potential in this region

 

Competitive Landscape:

The consolidated biopesticides industry is offering high growth potential

The global biopesticides market is consolidated with few companies holding a significant share in the market. The market competition is intense owing to the stringent regulatory environment in the agrochemicals industry. Most of the leading crop-protection companies including BASF SE, The Dow Chemical Company, Koppert B.V., Certis USA, and Kemin Industries have entered into the biopesticide industry to cater to the increasing market demand. Other major players in the industry are Marrone Bio Innovations, FMC Corporation, AEF Global Inc., and BioTEPP Inc.

COVID-19 Impact:

Pandemic had a negative impact on the global biopesticides market

While the global trade came to halt during the lockdowns imposed to control the spread of novel coronavirus, the agrochemical industry has been impacted by severe freight challenges. Most of the agrochemical categories including biopesticides witnessed a decline in sales volume due to supply chain disruptions. Though agriculture has been exempted from lockdown restrictions under essential industries, the close of the foodservice industry, and uncertain demand for fruits and vegetables, farming activities are halted over months in early 2020, this leading to declined sales of biopesticides. However, farming in the Asia Pacific region experienced resilience to the pandemic owing to favorable agronomical conditions in India and China, partially offsetting the decline in developed economies

Trending Topics

Phosphate Fertilizers Market

Neem Extracts Market

Agricultural Enzymes Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest