Meticulous Research® –a leading
global market research company published a research report titled “Biopesticide
Market by Product Type (Bioinsecticides, Bioherbicides, Biofungicides), Origin
(Microbial, Biochemical), Formulation (Liquid, Dry), Mode of Application
(Foliar Spray, Seed Treatment), Crop Type, and Geography– Global Forecast to
2028.”
According to this latest publication from
Meticulous Research®, the global biopesticides
market is expected to grow
at a CAGR of 11.7% from 2021 to 2028 to reach $9.6 billion by 2028. Also, in
terms of volume, the biopesticides market is expected to record a CAGR of 9.6%
from 2021 to 2028 to reach 558.4 KT by 2028.
The growth of this market is driven by factors
including rising investment from leading crop protection companies, increasing
awareness about environmental safety, higher crop quality and yield with the
use of biopesticides, increasing organic farming & demand for organic food,
and rising government initiatives. Moreover, the huge agricultural diversity
and arable land in emerging countries, including Asia-Pacific and Latin
America, are expected to offer significant growth opportunities for players in
the biopesticides market. However, the factors such as lack of awareness &
low adoption rate of biopesticides and low shelf-life & inconsistent
performance are expected to hamper the growth of this market to some extent.
The global biopesticides market study presents
historical market data in terms of value and volume (2019 and 2020), estimated
current data (2021), and forecasts for 2028. The market is segmented based on
product type, origin, formulation, mode of application, crop types, and
geography. The study also evaluates industry competitors and analyses the
market at a country level.
Based on product type, the biopesticides
market is segmented into bioinsecticides, bioherbicides, biofungicides,
bionematicides, and other biopesticides. The bioinsecticides segment is
estimated to account for the largest share of the global biopesticides market
in 2021. Moreover, this segment is further expected to remain the largest
product type through 2028 in the biopesticides market. The growth of this
segment is primarily attributed to the growing awareness regarding the
environmental hazards of chemical insecticides, a high prevalence of
insect-based infections, and the increasing number of insecticide-resistant
pests.
Based on origin, the biopesticides
market is categorized into microbial, biochemical, and plant-incorporated
protectants. The microbial biopesticides segment is estimated to account for
the largest share of the global biopesticides market in 2021. Moreover, this
segment is expected to record the highest CAGR during the forecast period, as
microbial origin pesticides are composed of naturally occurring viruses, fungi,
or bacteria. They are mostly preferred for organic and residue-free food
production. Further, factors such as the higher advantage of selectivity; high
effectivity; no adverse effects on humans, plants, and animals; and ease of use
are driving the growth of the microbial biopesticides market across the globe.
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Based on formulation, the global
biopesticides market is segmented into liquid and dry biopesticides. The liquid
biopesticides segment is estimated to account for the larger share of the
global biopesticides market in 2021. Moreover, this segment is further expected
to record the highest CAGR during the forecast period. This segment's larger
share and fastest growth are mainly attributed to the liquid biopesticides’
longer duration of effectiveness (up to 6 months) than dry biopesticides (up to
3 months) and their better performance in disease control.
The foliar spray segment is estimated to account
for the largest share of the global biopesticides market in 2021. This
segment’s large share is mainly attributed to the uniform distribution of
biochemicals, highest biopesticide use efficiency, and minimum to no wastage of
biopesticides achieved using the foliar spray technique.
Biopesticides help improve crop quality and
marketability and are widely used to protect fruits & vegetables, cereals
& grains, oilseeds & pulses, and other crops. The fruits &
vegetables segment is estimated to account for the largest share of the global
biopesticides market in 2021. The large share of this segment is mainly
attributed to the increasing fruit & vegetable production across the globe,
growth in organic farming globally, and the growing number of diseases
affecting fruit & vegetable crops.
Based on geography, the global
biopesticides market is divided into North America, Europe, Asia-Pacific, Latin
America, and the Middle East & Africa. North America is estimated to
account for the largest share of the global biopesticides market in 2021,
followed by Europe and Asia-Pacific. The largest share of this market is mainly
attributed to the increasing concerns over harmful chemicals on the
environment, growing demand for organic food, and the presence of a streamlined
registration process. Additionally, the presence of several key players in the
region and the growing adoption of eco-friendly farming methods by farmers
further supports the growth of the biopesticides market in North America.
TOP
10 COMPANIES IN BIOPESTICIDES MARKET
The key players profiled in the global
biopesticides market research report are Bayer AG (Germany), Marrone Bio
Innovations, Inc. (U.S.), Certis USA L.L.C. (A Part of Mitsui & Co.)
(U.S.), the Dow Chemical Company (Part of Dow Inc.) (U.S.), Andermatt Biocontol
AG (Switzerland), BASF SE (Germany), Som Phytopharma India Limited (India),
Syngenta AG (Part of ChemChina) (Switzerland), International Panaacea Ltd
(IPL)(India), The Stockton (STK) Group (Israel), BioWorks, Inc. (U.S.),
Novozymes A/S (Denmark), Koppert B.V. (Netherlands), W. Neudorff GmbH KG
(Germany), InVivo Group (France), Valent U.S.A. LLC (part of Sumitomo Chemical
Co., Ltd.) (U.S.), FMC Corporation (U.S.), and Gowan Company, LLC. (U.S.),
among others.
Key questions answered in the report-
- Which
are the high-growth market segments in terms of product type, origin,
formulation, mode of application, crop type, and region/countries?
- What
was the historical market for biopesticides across the globe?
- What
are the market forecasts and estimates for the period 2021-2028?
- What
are the major drivers, restraints, opportunities, and challenges in the
global biopesticides market?
- Who
are the major players in the global biopesticides market?
- How
is the competitive landscape, and who are the market leaders in the global
biopesticides market?
- What
are the recent developments in the global biopesticides market?
- What
are the different strategies adopted by the major players in the global biopesticides
market?
- What
are the geographical trends and high growth regions/ countries?
- Who
are the local emerging players in the global biopesticides market, and how
do they compete with the global players?
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