Press release
Global Biopesticide Market to Witness CAGR growth of 13.9% by 2025 Due to Adoption of Eco Friendly Agriculture Products
There is no foreseeable end to the escalating demand for food as a result of increasing population across the World. Consequently, the practices that aid to the fertility and yield of decreasing arable land are gaining popularity, including biopesticides, which are biological pesticides derived from natural materials such as plants, animals, and bacteria. The demand in the global pesticides market is projected to increment at a robust CAGR of 13.9% during the forecast period of 2017 to 2025, gaining strong traction from the growing trend of organic food. Urban consumers are now aware of ill-effects of chemically produced raw-food and are now willing to spend added charges for products that are produced organically.
The global biopesticides market is also driven by factors such as promotional activities by government agencies, rise in the cost of chemical fertilizers and pesticides, and rapid growth of bio-control seed treatment solutions. On the other hand, lack of awareness and infrastructure in a number of emerging economies is holding the true prosperity of the global biopesticides market, which is estimated to be worth US$9,557.8 mn by 2025, substantially up from its evaluated worth of merely US$3,368.42 mn in 2017.
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Bioherbicides Emerges as Most Profitable Product Segment
Product-wise, the global biopesticides market has been segmented into bioinsecticides, biofungicides, bioherbicides, bionematicides, and plant incorporated protectants (PIP). In 2015 and 2016, bioherbicides contributed major share of biopesticides market and is likely to remain the dominant segment throughout the forecast period. Preference over bioherbicides in region such as North America and Europe is the major reason that is anticipated to contribute the demand for bioherbicides. Bioinsecticide is majorly prefer in Asia Pacific. In Asia Pacific, weed control is majorly done by traditional method by plucking or removing weed with the help of human labor.
Production of Cereals and Grains Serves Maximum Demand
Application-wise, the global market for biopesticides has been bifurcated into cereals and grains, oilseeds and pulses, fruits and vegetables, nurseries, and turf. Cereals and grains dominated the biopesticides market in 2015 and 2016 and is projected to remain the major crop type for biopesticides market during forecast period. Fruits and vegetables is another major application, which is anticipated to grow at moderate rate during the forecast period. Use of biopesticides in Ornamental & Turf is gaining popularity in North America and expected descent growth in future.
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The global biopesticides market is fragmented in nature, although a few companies do hold a position of strength, such as Du Pont, BayerCropScience, Certis USA L.L.C., Syngenta, Wayne Agro, LageyCia.S.A., FMC corporation, Biogard, CBC (Europe) Srl, Lallemand Inc, Nufarm Agricultural Products, Agrichem, S.A., Emery Oleochemicals, International Penaacea, BioWorks, Inc., AgriLife, Kan biosys, Monsanta, Biogrow, Stockton Group, and Bioworks.
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