Biopesticides Market to see 5.3% CAGR till 2024 | Lonza Group, Nexira, DowDuPont, Roquette Freres, Royal DSM, Sudzuker, Kerry

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 biopesticides market demand. 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.

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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.

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.

Over the years, crop protection has been grabbing headlines and has counted on synthetic chemical pesticides. That said, evolution of resistance in pest population and dearth in the availability of synthetic chemical pesticides have reignited the interest in biopesticides.

While the repercussions of the COVID-19 pandemic have become noticeable across food sectors, agriculture industry is showing more resilience to the outbreak. According to FAO, world cereal trade in 2020/21 is likely to be pegged at 433 million tons, fueled by trade expansion of all major cereals.

With rising crop losses caused by pests on the upswing, biopesticides will become a trendy sector. It is projected that biopesticides in seed treatment will have a promising future as lion’s share of the world’s food emanates from crops grown from seed, thereby signifying the relevance of biopesticides.
In the latest research report by Global Market Insights, Inc., biopesticides market size is likely to surpass US$3.3 bn by 2026.

Table Of Content For This Research Report: https://www.gminsights.com/toc/detail/biopesticides-market

Major key players in the biopesticides market are Archer Daniels Midland Company, Cargill Incorporated, Lonza Group, Nexira Inc, Ingredion Incorporated, DowDuPont, Roquette Freres, Tate & Lyle PLC, Royal DSM, P&G, GlaxoSmithKline, Sudzuker, Kerry Group, Interfiber SP ZOO, Solvaira Specialties, SunOpta, Inc, J. Rettenmaier & Söhne GmbH & Co. KG,

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