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Global Biopesticides Market Key Players by 2024: BASF, Bayer Crop Science, Marrone Innovations, Monsanto, Certis, Agrolink, Chema Industries, Seipasa S.A.
Biopesticides Market
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Shifting consumer preference towards organic and sustainable food accompanied by innovation in technology will drive industry growth. Bioherbicides market was valued more than USD 100 million in 2016. Strong application potential due to usability timelines and efficient functioning will drive the product demand. Increasing necessity to improve farm productivity along with regulatory support are the key factors fueling the industry growth.
Foliar spray holds more than 75% of the overall industry share in 2016. Increasing foliar spray adoption among the farmers due to its easy handling properties will stimulate the biopesticides market growth. Effective ingredient application as compared to the other counterparts will support the industry growth.
Fruits & vegetables accounted for around 70% of the total industry revenue. Increasing product benefits including enhanced yield, low disease occurrences and improved crop quality will enhance the product scope for fruits & vegetables. Development in the agricultural practices to provide better color, and increased sugar content in fruits & vegetables is expected to encourage the industry growth.
Liquid formulations market will witness gains over 6.2% up to 2024 owing to increased shelf life of the product. It contains inert ingredients including stickers, coloring agents, stabilizers, surfactants, antifreeze compounds and additional nutrients. The product can be easily diluted in water using emulsions, suspension, oil dispersions and suspo-emulsions.
Microbial was worth around USD 950 million in 2016. Yeast, viruses, protozoa, fungi and bacteria are the major microbial sources. Microbial biopesticides are non-pathogenic & non-toxic with functions specific on the distinct species of pests, leaving the other living organisms harmless. It is used in many habitats where chemical pesticides are prohibited including, stream and lake borders of watersheds, urban & recreational areas and schools in agricultural settings.
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U.S. biopesticides market generated over USD 550 million in 2016. Shifting preference towards organic food along with rising consumer awareness about health and environment will drive the demand. Germany market will witness growth over 6% up to 2024. Government as well as institutional initiatives and promotions for product usage will positively influence the product demand in this region.
ADAMA, Dow, BASF, Syngenta, Bioworkers, Bayer, DuPont, Nufarm, Koppert, Futureco Bioscience and Valent BioSciences are major industry players.
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