Biopesticides Market Growth Is Attributed Due To The Increasing Demand For Foliar Sprays

According to Precision Business Insights (PBI), latest report, the biopesticides market is expected to be worth USD 12,857.0 billion in 2022, growing at a 13.8% CAGR from 2022 to 2028. Biopesticides give growers with vital tools on both fronts by delivering very effective pest and disease management without causing environmental harm. Their active and inert chemicals are widely acknowledged as safe. Aside from the microbial component, carrier medium for biopesticide formulations include organic ingredients such as animal broth, organic materials, and organic waste items. The material used in the media is biodegradable. Biopesticides contribute to the agroecosystem's stability and sustainability by having no detrimental environmental impact. People's health consciousness and awareness are expanding, as is their understanding of the usage of toxic pesticides and chemicals in agricultural commodities. As a result, biopesticides and natural compounds are becoming more popular among producers. Governments and regulatory organizations are also promoting the availability of natural and organic food products, as well as the use of biopesticides in agricultural techniques. Because of these, biopesticide manufacturers can easily register their products in practically any country. Biopesticide registration is more straightforward and more versatile than synthetic pesticide registration.

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Foliar Sprays Segment to Dominate the Biopesticides Market:
The Foliar sprays segment is expected to account for a larger revenue share in the global biopesticides market, with a value share of 35.2% worldwide. It is projected to grow at a 12.7% CAGR between 2022 and 2028. Foliar sprays control insects and mites by spraying microbial pesticides directly on the plants. It is the most effective tool for short-term pest management. When visible on the plant, foliar treatment gives a quick way to address insect assault. Foliar applications are preferable when soil conditions are poor for insect control. One of the primary drivers of growth in the biopesticides industry is the ease with which foliar spray may be applied.

Asia Pacific Biopesticides Market:
The Asia Pacific market is expected to hold a significant market share in the global Biopesticides market over the forecast period. It is projected to grow at a CAGR of 11.1% in the coming years. The market's dominance is mainly attributable to the presence of agricultural activities in Asia-Pacific and the availability of various microbial and predator biopesticides for various pests, insects, and pollutants that consumers select for crop protection. Orchards are the crops that are most susceptible to pest and insect damage. As a result, biopesticide use in orchards is higher than in other types of crops. Because of the more significant usage of biopesticides, emerging nations such as India and China have seen significant uptake in orchard farming.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Biopesticides market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In 2022, Syngenta Crop Protection AG acquired two next-generation bioinsecticides, NemaTrident and UniSpore, from Bionema Limited, a biocontrol technology developer. With this move the company aims to combat increasing resistance and a wide range of insects and pests across horticulture and ornamentals, turf amenity, and forestry, giving customers even greater choice.

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The biopesticides market is segmented based on source, mode of application, formulation, type and geography.
Based on the source, the market is segmented into the following:
• Microbials
• Biochemicals
• Beneficial insects

Based on the mode of application, the market is segmented into the following:
• Seed treatment
• Soil treatment
• Foliar spray
• Others

Based on the formulation, the market is segmented into the following:
• Liquid
• Dry

Based on the type, the market is segmented into the following:
• Bioinsecticides
• Bio fungicideses
• Bionematicides
• Bioherbicides
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the biopesticides market report are Bayer AG (Germany), Marrone Bio Innovations, Inc. (U.S.), Certis USA L.L.C. (U.S.), The Dow Chemical Company (U.S.), Andermatt Biocontol AG (Switzerland), BASF SE (Germany), Som Phytopharma India Limited (India), Syngenta AG (Switzerland), International Panaacea Ltd (IPL) (India), The Stockton (STK) Group (Israel), BioWorks, Inc. (U.S.), Novozymes A/S (Denmark), and Koppert B.V. (Netherlands).

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