Biopesticides Market Growth, Industry Analysis, Global and Regional Market Forecast to 2022 to 2031

The global biopesticides market was estimated at $7.01 billion in 2020 and is expected to hit $33.6 billion by 2031, registering a CAGR of 13.9% from 2022 to 2031.

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Microbial pesticides (products that contain microorganisms, such as bacterium or fungus as the active ingredient) and biochemical pesticides (products that contain naturally occurring substances, such as insect sex pheromones, certain plant extracts, and fatty acids) provide several advantages to farmers. Biopesticides are competitive in both price and efficiency. Biopesticide products provide viable alternatives in situations where conventional chemical pesticides and genetically modified crops are subject to regulatory restrictions. Biopesticides comply with market-imposed requirements for pest management programs by food processors and retailers. Furthermore, biopesticides are eco-friendly and meet stringent organic farming requirements. Biopesticides are exempted from the maximum residue limit (MRL) that is applied to synthetic pesticides and are expected to encourage the development of insect, fungal, and bacterial resistance.

Extensive use of various types of microbial biopesticides to enhance the quality of the crop & land, increase yield & productivity, and help save crop from foreign attack of fungus, bacteria, and other contaminants drive the growth of the global biopesticides market. On the other hand, stringent restrictions on usage of harmful chemicals are expected to hinder the growth to some extent. However, increase in investments in agriculture among developing countries across the globe is expected to create tremendous opportunities for the industry.

The key players of the market analyzed in the global biopesticides market include Andermatt Biocontrol AG, Arizona Biological Control, Inc., AgBioChem, Inc., AgBiTech Pty Ltd., Ajay Bio-Tech Ltd., Amit Biotech Pvt. Ltd., Kemin Industries, Novozymes A/S, BASF SE, Bayer AG.

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One of the pillars of sustainable agriculture is an effective Integrated Pest Management (IPM) program. IPM uses biological controls (such as predatory insects), cultural practices, and chemical management to keep pest population under control. However, if a pest problem becomes serious chemicals are used. Farmer has two choices, which includes standard & synthetic product or an organic biopesticide. The main advantage of adopting biopesticides into a sustainable agricultural system is that the pesticides are environmentally safe and do not harm the soil or water supply. The adoption of biopesticides is increasing the sales which is fueling the growth of the global biopesticides market size.

The report offers a detailed segmentation of the global biopesticides market based on product type, formulation, crop type and region.

Based on product type, the microbial segment generated the highest market share in 2021, garnering more than four-fifths of the global market. The predators segment, on the other hand, is expected to cite the fastest CAGR of 14.8% during the forecast period.

Based on crop type, the orchards segment held the majority share in 2021, contributing to more than half of the global market. The field crops segment, on the other hand, is expected to exhibit the fastest CAGR of 15.2% during the forecast period.

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Based on region, the market across Asia-Pacific held the lion's share in 2021, garnering nearly one-third of the global market. The LAMEA, on the other hand, is expected to cite the fastest CAGR of 15.6% during the forecast period.

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