Press release
Biopesticides Market Size 2020, Global Trend, Share and Forecast till 2026
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The global Biopesticides Market is anticipated to reach USD 10.19 Billion by 2026, as against USD 3.36 Billion in 2018. As per the Research Institute of Organic Agriculture, around 50.9 million hectares of land used for agriculture was under organic farm practices in 2015 and exhibited a CAGR of 7.4% between 2010 and 2015. Increasing land under organic farming is expected to fuel demand for biopesticide products in the forecast years.
List of prominent companies that are operating in the global Biopesticides Market are:
Stockton Ltd.
Valent BioSciences
Isagro
BioWorks Inc.
Koppert
BASF
Marrone Bioinnovations
Bayer CropScience
DowDupont
Syngenta AG
The demand for biopesticides is likely to outpace synthetic chemical pesticides in the forecast years. This is primarily owing to the benefits offered by these products while protecting crops from diseases and pests. Other advantages offered by biopesticides include residual management, biodegradability, and product development. These advantages are expected to drive the growth of the market in the years to come.
The report offers a comprehensive overview of the overall market landscape, aiming to help key players build business strategies. These strategies will further help companies to stay ahead of the competition and strengthen their market position. Furthermore, it analyzes some of the latest trends which are prevailing in the market, helping our readers to gain valuable insights into the biopesticides industry. It also offers a detailed overview of the competitive landscape with profiles of key players.
North America and Europe to Witness Huge Growth Opportunities
From a geographical standpoint, North America is expected to register high growth in the global biopesticides market in the foreseeable future. Implementation of strict regulations regarding the usage of synthetic crop chemicals for protecting crops against hazardous chemicals is driving the market in this region. Apart from North America, the market in Europe is expected to exhibit moderate CAGR over the projected horizon. Other regions such as Asia Pacific and South America are expected to emerge at a considerable rate in the foreseeable future.
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Major Segments include:
By Type
Bioinsecticides
Biofungicides
Bionematicides
Others
By Source
Microbials (Bacteria, Fungi, and Others)
Biochemicals (Semiochemicals, Plant Extracts, and Others)
By Mode of Application
Foliar Application
Seed Treatment
Soil Treatment
Others
By Crop
Cereals
Oilseeds
Fruits & Vegetables
Other Crops
By Geography
Rising Popularity of Microbial-based Biopesticides to Drive Market
According to the source, microbial such as fungi and bacteria cover the highest share in the global biopesticides market in the forecast period. These products help in the protection of crops from several plant pathogens found in nurseries, cultivated lands, and fields. These biopesticides have proved efficient in controlling different pests, which is driving the segment’s growth.
For instance, Isagro USA received approval from the California EPA in the year 2018 for developing a biofungicide called Taegro-2. This biopesticide is used in different types of horticulture crops and offers crop protection against foliar and soil-borne diseases.
Among different types of biopesticides, bioinsecticides and biofungicides covered around 92 to 95% of the global market in the year 2017. Vegetable and fruit crops cover the highest share in the biopesticide consumption at a global level. Spurred by these factors, the biopesticides market is expected to exhibit strong growth in the years to come.
Partnerships, New Product Launches, and Other Strategies to Drive the Market
Companies are increasingly adopting new strategies to strengthen their market position. Strategies such as new product launches, agreements, partnerships among others are likely to uplift the market growth during the forecast duration. For instance, a company developing botanical-based pesticides called Stockton STK has signed long-term agreements for its innovative product Timorex Gold biofungicide with other key companies in the agrochemical industry. Such initiatives are expected to expand increase the geographical presence of companies in the forecast period.
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