Global Bio Pesticides Market Growth Trends Highlighted with Updated Research and Forecasts 2032

The global biopesticides market size is estimated at US$5.61 billion in 2021 and is expected to grow from US$6.51 billion in 2022 to US$18.15 billion in 2032, which is expected to increase over the forecast period. The average annual growth rate of 15.77%. The global pandemic of novel coronavirus disease (COVID-19) is unprecedented and staggering. Demand for biopesticides was lower than expected in all regions compared to pre-pandemic levels. According to our analysis, the global market has recorded a growth of 4.86% in 2020 compared to 2019.

Increasing efforts by governments and market participants to promote the use of efficient and environmentally friendly agricultural products are expected to drive the growth of the biopesticides market in the coming years. Additionally, several governments are supporting the use of eco-friendly produce even during this pandemic situation. Governments have introduced various programs and associations to increase the use of green agricultural products, including bio-based crop protection products. For example, in March 2020, the Reserve Bank of India (RBI) introduced new measures. The banking organization has given a three-month moratorium on cutting the interest rate on a US$4,022.29 crop loan by 3%, citing the crop loan and agricultural conditions.

Microorganisms are expected to prove to be inexpensive but effective yield enhancers despite unpredictable weather conditions. Metagenomics, metabolomics and breeding efforts are underway to expand the use of biopesticides to optimize production in the field. At the same time, investment by institutional investors and venture capital is increasing. Ongoing research to develop new microbial pesticides is expected to support market growth in the coming years. Organic farming is increasingly being advocated as an ideal alternative to traditional techniques to reduce the overall impact on the environment. The promising growth trajectory of organic agriculture is expected to benefit the future growth of bio-based agrochemicals, and the demand momentum for natural crop protection products will increase. The strong emphasis on organic and sustainable farming by governments and other stakeholders has increased acceptance of this product.

Countries, especially those with strong agricultural bases, are gradually moving from a 'green revolution' to an 'evergreen revolution'. With their eco-friendly, cost-effective, farmer- and consumer-friendly properties, the role of agrobio-inputs will be crucial in driving this transformation. Moreover, increasing demand from buyers for food products free from chemical pesticides is expected to further fuel the market growth. The use of synthetic pesticides has caused extensive and widespread environmental damage. For this reason, several government agencies have banned or restricted the use of some chemical active ingredients to avoid adverse effects on the environment, human and animal health. Several governments and state agencies have been very supportive and funded to encourage the use of bio-based crop protection chemicals to reduce the environmental impact of pesticides. Growing concerns over the use of chemical pesticides are expected to have a positive impact on sales of other sustainable solutions such as biopesticides.

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Market Segmentation:
By Types
Synthetic Pesticides
Bio Pesticides

By Applications
Cereal
Fruits
Plantation Crops
Vegetables

Following are Top Key players Covered in Report:
Syngenta
Bayer
BASF
DowDuPont
Monsanto
Nufarm
Sumitomo Chemical
Sinochem
ChemChina
FMC

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Regional Analysis:
1. North America: This region includes countries like the United States and Canada. North America has a well-established biopesticides market due to stringent regulations regarding chemical pesticides and a growing demand for organic food products.

2. Europe: European countries such as Germany, France, the United Kingdom, Italy, and Spain have a significant presence in the biopesticides market. The region has a strong focus on sustainable agriculture and has implemented strict regulations on chemical pesticide usage, which has propelled the demand for biopesticides.

3. Asia-Pacific: The Asia-Pacific region comprises countries like China, India, Japan, Australia, and others. This region is witnessing rapid growth in the biopesticides market due to factors such as increasing population, rising awareness about sustainable farming practices, and government initiatives to reduce chemical pesticide usage.

4. Latin America: Countries like Brazil, Argentina, and Mexico are prominent players in the biopesticides market in Latin America. The region has vast agricultural lands, and there is a growing demand for organic and sustainable agricultural practices, driving the adoption of biopesticides.

5. Middle East and Africa: Although the biopesticides market in the Middle East and Africa is relatively smaller compared to other regions, there is a growing awareness about the benefits of biopesticides in the agricultural sector. Countries like South Africa, Egypt, and Morocco are witnessing increased adoption of biopesticides.

6. Rest of the World: This category includes regions not covered in the above regions, such as Oceania (Australia, New Zealand, etc.) and smaller countries with developing agricultural sectors.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Bio Pesticides market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Bio Pesticides would help in identifying future applications in this market.

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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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