Biopesticides Market 2020-2024| Top Key Players are Bayer Crop Science, Marrone Innovations, Monsanto, BASF, Certis, Koppert Biological systems, Valent Biosciences, Agrolink, CAIRO CHEM, Chema Industries, Corpfert Group, Certis, Seipasa S.A., Multimol Mic
In 2016, bioherbicides saw sales of for more than USD 100 million worldwide. The product is in high demand owing to robust potential of the compounds to provide farmers with advantages like longer usability timelines and impressive crop results. Increasing necessity to enhance productivity of agricultural land as well as crop quality will bolster product demand in future.
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1. Bayer Crop Science
2. Marrone Innovations
6. Koppert Biological systems
7. Valent Biosciences
9. CAIRO CHEM
10. Chema Industries
11. Corpfert Group
13. Seipasa S.A.
14. Multimol Micro Fertilizer Industries
Growth Drivers are
o Rise in the costs of chemical fertilizers & pesticides
o Increasing farm expenditure
o Decrease in arable land
o Rising organic food demand
Declining crop yield and rigorous policies established by governments across the globe against the use of synthetic pesticides will be key contributors towards biopesticides adoption. Exploding population growth rate and the associated need for enhanced crop yields may further fuel product penetration. It has been estimated that biopesticides market size will surpass USD 2.5 billion in value by 2024.
There has been imposition of ban on many agrochemicals including neonicotinoids and paraquat. Further, consumer petitions to ban harmful pesticides like glyphosate will facilitate the biopesticides product penetration. Ease of registration, low R&D expenses, along with introduction of subsidies by the government may complement business growth.
Large number of crops are affected every year due to pests and insects attack. Increasing demand for organic pest control from farming sector will fuel the adoption rate of bioinsecticides in the forthcoming years. Bioinsecticides market is expected to showcase notable growth rate of over 6% during the analysis period.
Extensive expenditure on R&D activities and increasing adoption of smart farming techniques has resulted in widespread use of foliar spray. In 2016, foliar spray dominated the biopesticides industry share accounting for more than 75% of the overall demand.
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Seed treatment disinfects are required for eradicating pathogens and improve crop performance. From seed treatment applications, biochemicals market players generated a revenue of over USD 130 million in 2016.
Rising consumer awareness pertaining to healthy diet and nutritional values of food has prompted farmers to utilize organic pest control techniques. Increasing demand for organic vegetables and fruits is substantially driving the demand for bioinsecticides. In 2016, fruits & vegetables application accounted for over 70% of the market share.
Liquid biopesticides market size is set to grow at over 6.2% owing to the relatively longer shelf life of the products. Liquid/water-based formulations comprise of inert ingredients such as stabilizers, stickers, surfactants, anti-freeze compounds, coloring agents, additional nutrients and prove beneficial for crop growth.
Microbial products are witnessing extensive usage in habitats, where use of chemical pesticides are prohibited. These places include lake borders, river streams, schools and recreational areas. In 2016, biopesticides industry share from microbial sources garnered revenues of over USD 1 billion.
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U.S. emerged as a major regional ground for biopesticides market, accounting for over USD 550 million in 2016. Shifting consumer preference towards organic food along with increasing awareness regarding health and environment fueled the product demand. On the other hand, Germany biopesticides market is forecast to register a CAGR of 6% through 2024. Government as well as private institutional initiatives to promote organic products usage may drive the regional growth.
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