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The Biopesticides market was valued at USD 7,012.70 million in 2020, and is projected to reach USD 33,638.90 million by 2031, growing at a CAGR of 13.9% from 2022 to 2031| Valuates Reports.

09-26-2022 09:19 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Valuates Reports

The Biopesticides market was valued at USD 7,012.70 million

Biopesticide is a microbial toxin, which is biological poison generated from microorganisms such as bacteria or fungi. Pathogenesis by microbial entomopathogens begins with pathogen infiltration through the insect's stomach, followed by pathogen growth, which results in the insect's death.

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The biopesticides market is primarily driven by the demand for organic goods and those generated via organic farming. Biopesticides, led by Bacillus thuringiensis (bt)-based products, have gained commercial acceptance as an alternative for traditional insecticides, nematicides, and fungicides in agricultural applications. Furthermore, increase in the expense of using synthetic pesticides contributes to the growth of the biopesticides market. This provides biopesticide producers with an excellent potential to increase market share through commercial and organic farming output.
Biopesticides offer a wide range of uses in food packaging, which is one of the primary drivers driving the market growth. Furthermore, rise inneed for practical and easy-to-use packaging has boosted the demand for barrier features to keep food fresh and extend its shelf life. Biopesticides are used in food packaging to reduce material waste and allow easy and customizable packaging. Furthermore, biopesticides lower food packaging costs, resulting in increased usage.
Biopesticides in organic agriculture solve a number of environmental and social challenges while also providing producers, laborers, and consumers with new and economically feasible options. This is one of the primary factors of the biopesticides market's expansion. Consumers prefer organic food over conventional food to prevent the negative health consequences associated with chemical preservatives, which drives producers toward organic horticulture that use biopesticides rather than toxins. Increase in environmental concerns cleared the path for the usage of bio-based insecticides. According to Research Institute of Organic Agriculture(FiBL) figures, the organic area in Europe expanded from 16.4 million hectares in 2019 to 17.0 million hectares in 2020
Rise in demand for the adoption of sustainable and cost-effective solutions has fueled product development and innovation in the biopesticides industry. Manufacturers are now aware of the side effects caused by pheromones, and hence they are introducing new biopesticides variants that help to eradicate the pests and do not interfere with the growth rate of the crops.Manufacturers are anticipated to benefit from the newer prospects, owing to increase in stringency of chemical-residue-related laws, greater integration of Integral Pest Management (IPM) programs in developing nations, and quicker licensing of biopesticides than chemical pesticides. Innovations in liquid formulation of biopesticides for foliar application have emerged,as the category continues to grow in popularity.

The cost of using synthetic pesticides is increasing daily, boosting the need for biopesticides, which promotes market growth. The introduction of genetically modified (GM) seeds was expected to reduce the demand for pesticides, but investigations have revealed that this is not the case. This provides biopesticide producers with an excellent potential to increase market share through commercial and organic farming output. Furthermore, biopesticides assist farmers, packers/shippers, food processors, food merchants, and consumers in several ways. They can be used to manage illness and nuisances, such as mosquito and tick control, therefore protecting public health. In agricultural applications, biopesticides are beneficial to crop quality and yield, thus helping farmers in delivering affordable and healthy fruits and vegetables to consumers across the globe. Through their highly targeted modes of action, biopesticides also allow farmers to maintain beneficial insect population in their fields, reducing the dependency of farmers on conventional chemical pesticides.
The biopesticides market is segmented on the basis of product type, formulation, crop type, and region. Depending on the product type, the market is fragmented into microbial, predators, and others. By formulation, the market is divided into dry form and liquid form. According to corn type, the market is categorized into orchards, grazing & dry land, and field crops. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia Federation, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

The players operating in the global biopesticides market have adopted various developmental strategies to expand their biopesticides market share, increase profitability, and remain competitive in the market. The key players profiled in this report include AgBioChem, Inc., AgBiTech Pty Ltd., Ajay Bio-Tech Ltd., Amit Biotech Pvt. Ltd., Andermatt Biocontrol AG, Arizona Biological Control, Inc., BASF SE, Bayer AG, Kemin Industries, and Novozymes A/S.

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biopesticides market analysis from 2020 to 2031 to identify the prevailing biopesticides market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the biopesticides market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global biopesticides market trends, key players, market segments, application areas, and market growth strategies.

Biopesticides Market Segmentation

By Product Type

• Microbial
• Predators
• Others

By Formulation

• Dry Form
• Liquid Form

By Crop Type

• Orchards
• Grazing And Dry Land
• Field Crops

By Region

• North America
• US.
• Canada
• Mexico
• Europe
• Germany
• UK.
• France
• Italy
• Russian Federation
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific
• Brazil
• Argentina
• South Africa
• Rest of LAMEA

Key Market Players
• AgBioChem, Inc.
• AgBiTech Pty Ltd.
• Ajay Bio-Tech Ltd.
• Amit Biotech Pvt. Ltd.
• Andermatt Biocontrol AG
• Arizona Biological Control, Inc.
• Bayer AG
• kemin industries
• Novozymes A/S

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