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Biopesticides Market Expected to Witness a Sustainable Growth over 2022 | Top Key players: Actagro LLC., Ag Biochem Inc., Agbitech Pty Ltd., Bio-Tech Ltd., Amit Biotech
Biopesticides Market Report, published by Allied Market Research, states that the global market was valued at $3,738 million in 2015, and is projected to reach $11,176 million by 2022, growing at a CAGR of 16.9% from 2016 to 2022. Based on the crop type, orchards segment occupied major share of the global market in 2015.Download Request Sample @: https://www.alliedmarketresearch.com/request-sample/538
The microbial pesticides (i.e., products that contain a microorganism, such as a bacterium or fungus as the active ingredient) and the biochemical pesticides, (i.e., products that contain naturally occurring substances, such as insect sex pheromones, certain plant extracts, and fatty acids) provide crop protection without any harmful residues. Biopesticidal products provide viable alternatives in situations where conventional chemical pesticides and genetically modified crops are subject to regulatory restrictions driving the market growth. Biopesticides comply with market-imposed requirements for pest management programs by food processors and retailers for organic food.
The Top key players
• Actagro LLC.
• Ag Biochem Inc.
• Agbitech Pty Ltd.
• Bio-Tech Ltd.
• Amit Biotech
• Amvac Chemical
• Andermatt Biocontrol Ag
• Arbico Organics
• Bayer Aga
• Basf Corp.
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Increase in investment in R&D and emerging developments in biopesticides manufacturing technology are anticipated to create lucrative opportunities for the market growth.
Furthermore, biopesticides are environment-friendly and meet stringent organic farming requirements driving the market growth. Biopesticides are exempted from Maximum Residue Limit (MRL) that are applicable to synthetic pesticides and are expected to to encourage the development of insect, fungal, and bacterial resistance.
The microbial biopesticides segment accounted for the highest share, both in terms of value and volume, owing to the increase in usage of bacterial biopesticides in the agriculture and horticulture industry. This segment is also expected to grow at the highest rate during the forecast period.
Key Findings of the Biopesticides Market:
• North America dominated the global biopesticides market in 2015, accounting for one-third share of the market, in terms of revenue.
• In 2015, microbial pesticides segment accounted for around 90% of the global market, and is anticipated to witness highest growth during the forecast period.
• On the basis of crop type, the orchards segment accounted for more than half of the share in 2015, and is anticipated to maintain its lead during the forecast period.
• Germany generated more than one-fifth of the total revenue in the Europe biopesticides market in 2015, and is expected to show highest growth rate.
• Asia-Pacific biopesticides market is expected to grow at the highest rate.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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