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Biopesticides Market Worth USD 4509 million in 2021, growing at a CAGR of 12.5% during 2016-2021

03-14-2020 02:28 PM CET | Industry, Real Estate & Construction

Press release from: GMI Research

GMI Research

GMI Research

New analysis from GMI Research, expects the revenue for the Biopesticides market to reach USD 4,509 million in 2021, growing at a CAGR of 12.5% during 2016-2021. The primary factor fuelling the demand for the Global Biopesticides market includes the increasing usage of microbial seed treatment in field crop across the globe.

The favorable government policies and regulations, coupled with the rising demand for organic products will drastically increase the demand for biopesticides at the global level. The farmers are mainly focusing on the adoption of organic farming practices to capture the growing demand of organic products among the consumers.

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Based on Type, the Global Biopesticides market is segmented into bioinsecticides, biofungicides, bioherbicides & bionematicides, and Others. The bioinsecticides segment is anticipated to lead the market during the forecast period owing to the increasing demand for organic food products and the growing consumer emphasis towards the prevention of insect-borne diseases across the globe. Moreover, the rising usage of bioinsecticides in the fruits and vegetables market will have a positive impact on the demand of the market over the coming years.

Based on the Mode of Application, the Dry and Wet formulation segment is expected to grow at a higher CAGR during the forecast period due to the increasing usage of biopesticides in the dry form applications driven by its exceptional benefits such as easy to handle, enables quick application, and are convenient to use.

Know more about the Global Biopesticides Market: https://www.gmiresearch.com/report/global-biopesticides-market/

Based on the End-Use, the fruits and vegetable segment is anticipated to lead the market during the forecast period owing to the significant rise in the demand of fruits and vegetables followed by the fundamental shift in the consumer's preference towards organic food products across the globe.

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Based on the region, North America is anticipated to lead the market during the forecast period owing to the supportive government policies and regulations, coupled with awareness of biopesticides applications among the end-users in this region. The rising prices of chemical pesticides will encourage the end-users towards the usage of biopesticides to enhance crop productivity and reduce the operational cost. The Asia-Pacific region is expected to grow at a higher CAGR during the forecast period due to the significant increase in the investments by the key market players in the Asian countries. Various multinational giants are mainly focusing on technological development to capture the growing demand of the target consumers.

The Global Biopesticides market has been segmented based on type, mode of application, end-use, and key geographies. Based on the type, the Global Biopesticides market has been segmented into bioinsecticides, biofungicides, bioherbicides & bionematicides, and Others. Based on the Mode of Application, the market is segmented into Dry Formulation and Wet Formulation. Based on the End-use, the market is segmented into Fruit & Vegetables, Cereals & Row Crops, Seed Treatment, and Non-Crops.
Various notable players operating in the market include Valent Biosciences, Koppert Biological Systems, Syngeta, Certis U.S.A, DuPont, Bayer CropScience, Dow Chemical Company, Mosanto, Mosanto, and BASF SE, among others.

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About GMI Research:

GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth.

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