Biopesticides Market 2024 - Market Competitive Analysis, Size, Growth Drivers, Share, Top Trends, And Forecast To 2033

The Business Research Company presents an extensive market research report on the "Biopesticides Global Market Report 2024" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the biopesticides industry. This report on biopesticides market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The biopesticides market size has grown rapidly in recent years. It will grow from $6.2 billion in 2023 to $7.4 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to growth in awareness about the environmental and health impacts, increase in government regulations, expansion of organic farming, investments in research and development, rise in disposable income.
The biopesticides market size is expected to see rapid growth in the next few years. It will grow to $14.46 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to rise in agriculture sector, growing global population, rising demand for hygiene and quality food, economic growth. Major trends in the forecast period include precision agriculture integration, digital technologies, market consolidation and partnerships.

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Key Market Players:
BASF SE, Syngenta AG, Bayer AG, Marrone Bio Innovations Inc., Novozymes A/S, Koppert B.V., FMC Corporation, International Panaacea Limited are prominent players in the biopesticides industry.

Market Drivers:
According to the Biopesticides Market Report 2024 by The Business Research Company, The rising demand for organic food is expected to propel the growth of the biopesticides market going forward. During the COVID-19, the demand for organic food has increased as buyers perceived it as healthier and good for immunity. Biopesticides are composed of toxins found in living organisms that are harmful to pests that attack plants but have no effect on the plant itself, therefore reducing soil pollution and erosion. As a result, biopesticides are used in organic crop production. For instance, in 2023, according to the Organic Industry Survey released by the Organic Trade Association, a U.S-based organization, Organic food sales in the United States in 2022 broke through $60 billion for the first time, hitting another high-level mark for the resilient organic sector. Therefore, the rising demand for organic food will drive the biopesticides market growth.

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Market segments for biopesticides include:
1) By Type: Bioinsecticides, Biofungicides, Bionematicides, Bioherbicides, Other Types
2) By Source: Microbials, Biochemicals, Beneficial insects
3) By Formulation: Liquid Formulation, Dry Formulation
4) By Mode Of Application: Seed Treatment, Soil Treatment, Foliar Spray, Other Mode Of Applications

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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