Biopesticides Market to hit $3.3 billion by 2026 | Key Players are Lonza Group, Nexira Inc, DowDuPont, Roquette Freres, Royal DSM, P&G, GlaxoSmithKline, Sudzuker

Biopesticides market is expected to showcase significant growth over the projected timeframe due to the demand for healthy food alternatives and the adoption of chemical-free farming techniques. The industry has evolved at a rapid pace, which is evident from the increasing consumption of organic food and the demand for environmentally - friendly crop protection pesticides.

AS per the latest report, biopesticides market size will reach USD 2.5 billion in value by 2024. 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.

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High production of biopesticides along with the shift towards organic farming practice, Latin America biopesticides market share has witnessed profitable growth over the past several years. On the other hand, the Middle East and Africa biopesticides industry is expected to showcase considerable growth in the coming years due to the rise in agricultural productivity along with an improved focus on exporting farm produce to developed countries such as Europe.

Governments across the globe are prohibiting the use of various agrochemicals such as neonicotinoids and paraquat will expand biopesticides market outlook. The simplified registration process, reduced R&D expenses, and subsidies by the government will propel advancements in the products.

In 2016, U.S. biopesticides market share was valued at more than USD 550 million. Rising consciousness among the citizens with respect to the need to eat healthy and consume naturally produced fruits and vegetables will steer the product demand. Biopesticide products include bioinsecticides, bioherbicides, and biofungicides. Bioherbicides industry size was valued over USD 100 million worldwide in 2016.

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Reliable functioning and superior usage will magnify the demand for the products. There is a need to enhance farm productivity coupled with meeting regulatory compliance. Surging incidences of pests and insects attack owing to constantly changing climatic conditions along with the need for organic pest control solutions will support the demand for bioinsecticides in the agricultural industry. Bioinsecticides consumption is projected to register CAGR of more than 6% over the projected timeframe.

In the year 2016, fruits and vegetables applications were one of the most prominent segments, contributing close to 70% of the total biopesticides market revenue. Increasing awareness among people regarding nutritional values of organic food and the demand for pesticide-free vegetables and fruits to avoid any food-related disorders will lead to the adoption of biopesticides.

Increasing population and the resultant growth in food demand globally have made crop protection a multi-billion-dollar industry. Biopesticides companies outlining the competitive landscape of the industry include Bayer, ADAMA, Futureco, Syngenta, Valent BioSciences and Koppert, among various others. Growing need for chemical-free food products and the adoption of sustainable farming practices financially supported by the governments globally will add impetus to biopesticides market trends over the forecasted timeframe.

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