Biopesticides Market Expected to Reach 15.13% CAGR Between 2023 and 2030

According to Triton's analysis, the global biopesticides market was valued at $5826.46 million in 2022 and is expected to grow at a CAGR of 15.13% during the forecast period.

A recent study by Triton Market Research titled Global Biopesticides Market is segmented by Ingredient (Microbial [Nematode, Bacteria, Virus, Fungal, Other Microbials], Biorational [Botanical {Insect Growth Regulators, Feeding Detergents, Repellants, Confusants, Plant Allelopathy, Plant Growth Regulator, Fungicidal Control, Induced Resistance, Pyrethrum, Neem, Essential Oils}, Semiochemical {Pheromones, Kairomones, Repellants, Allomones}), Product (Bioinsecticide, Biofungicide, Bioherbicide, Other Products), Application (Non-Crop [Turf and Ornamental Grass, Other Non-Crops], Crop [Grains and Cereals, Oil Seeds, Fruits and Vegetables]), Formulation (Dry Formulation, Liquid Formulation), Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray, Post-Harvest), and Regional Outlook (Middle East and Africa, Europe, North America, Latin America, Asia-Pacific).

Biopesticides are less toxic than conventional pesticides because they are often highly effective at low levels and degrade rapidly. This results in less exposure and helps avoid the environmental problems associated with conventional pesticides.

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The global biopesticides market is expected to reach $17941.26 million in sales by 2030, increasing at a compound annual growth rate (CAGR) of 15.13% between 2023 and 2030, according to Triton's study analysis.

The biopesticides market is anticipated to be driven by factors such a growing population and reduced R&D expenditures related to biopesticide manufacture and research. Biopesticides are relatively inexpensive when sourced from natural sources, in contrast to the long and expensive research and development often needed for synthetic chemical pesticides. They are a more appealing alternative for farmers due to their affordability, which raises their cost-efficiency. Because of this financial benefit, biopesticides are used more frequently, which helps to meet the growing need for environmentally acceptable and sustainable pest control methods.

However, the market faces challenges due to the limited efficiency exhibited by some biopesticides, target specificity, and low product availability.

The biopesticides market is categorized into ingredient, product, application, formulation, and mode of application. The ingredient section includes microbial and biorational. Further, the microbial section is branched into nematode, bacteria, virus, fungal, and other microbials. The biorational section is divided into botanical and semiochemical. Based on botanical, it is sectioned into insect growth regulators, feeding detergents, repellants, confusants, plant allelopathy, plant growth regulator, fungicidal control, induced resistance, pyrethrum, neem, and essential oils. The semiochemical is classified into pheromones, kairomones, repellants, and allomones.

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Further, the product section is divided into bioinsecticide, biofungicide, bioherbicide, and other products. The application comprises non-crop and crop. The non-crop includes turf and ornamental grass, and other non-crops. The crop section includes grains and cereals, oil seeds, and fruits and vegetables. The formulation is divided into dry formulation and liquid formulation. Lastly, the mode of application is classified into seed treatment, soil treatment, foliar spray, and post-harvest.

Globally, North America maintains a dominant position in the biopesticides market. The region's strong emphasis on sustainable agricultural practices and environmental concerns aligns with the use of biopesticides. Moreover, a robust research and development ecosystem and investment in innovative biopesticide solutions further bolster the expansion of the reviewed market.

The eminent companies in the biopesticides market are BASF SE, Koppert Biological Systems, Andermatt Group AG, Certis Europe BV, Pro Farm Group, Isagro SpA, Bayer CropScience AG, Rovensa Group, BioWorks Inc, IPL Biologicals Limited, Novozymes A/S, The Stockton Group, and Valent BioSciences Corporation.

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Question & Answer: Global Biopesticides Market

Question 1: What trends drive the biopesticides market on a growth path?
Answer: Factors such as low R&D costs associated with biopesticide manufacturing and development and a rising population are expected to drive the biopesticides market. Unlike the extensive and costly R&D often required for synthetic chemical pesticides, biopesticides can be obtained from natural sources at comparatively low cost. The affordability makes them an attractive option for farmers, enhancing their cost-efficiency. As a result, this cost advantage contributes to the increased adoption of biopesticides, meeting the growing demand for sustainable and environmentally friendly pest management solutions.

Question 2: What factors challenge the development of the biopesticides market?
Answer: The market faces challenges due to the limited efficiency exhibited by some biopesticides, target specificity, and low product availability.

Question 3: Which region maintains a dominant position in the biopesticides market?
Answer: North America maintains a dominant position in the biopesticides market. The region's strong emphasis on sustainable agricultural practices and environmental concerns aligns with the use of biopesticides. Moreover, a robust research and development ecosystem and investment in innovative biopesticide solutions further bolster the expansion of the reviewed market.

Question 4: Which are the eminent companies in the biopesticides market?
Answer: The eminent companies in the biopesticides market are BASF SE, Koppert Biological Systems, Andermatt Group AG, Certis Europe BV, Pro Farm Group, Isagro SpA, Bayer CropScience AG, Rovensa Group, BioWorks Inc, IPL Biologicals Limited, Novozymes A/S, The Stockton Group, and Valent BioSciences Corporation.

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