Biopesticides Market - Positive Long-Term Growth Outlook 2023

According to a new market report published by Transparency Market Research “Biopesticides Market- Global Industry Analysis, Size, Share, Growth and Forecast, 2015 - 2023”, global biopesticides market was valued at US$1.72 bn in 2014 and is expected to reach US$4.17 bn by 2023, at a CAGR of 9.9% from 2015 to 2023. North America is expected to dominate the global biopesticides market in terms of demand over the forecast period.

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Biopesticides are extensively used for regulating insects and harmful effects of insects. Rising demand for chemical free crop protection products, which have minimum or no negative impact on environment and posses better safety features are key drivers for the biopesticides market. The usage of biopesticides has increased substantially in the past few years as their effectiveness has improved through extensive and systematic research. A number of research centers around the world are undertaking research aimed at improving techniques for the augmentation and application of biopesticides, with the objective of improving the commercial feasibility of producing and using biopesticides.

In crop production and pest management programs, biopesticides offer the potential for higher crop yields and quality rather than chemical based pesticides programs. In addition, other key benefits include biodegradability, shorter field re-entry, chemical pesticide residue and resistance management. Owing to this market opportunity, major agrichemical companies have involved in biopesticides market largely through partnerships, acquisitions and licensing deals. In the last few years, several biopesticides companies have started discovery programs of microbial biopesticides to meet the need of increasing demand for organic food products.

In terms of active ingredients type, microbial pesticides held the largest share in the global biopesticides market, accounting for 57.7% market share in 2014 and is expected to grow at a CAGR of 9.7% from 2015 to 2023. Biopesticides are largely used for protecting permanent crops.

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North America held the largest market share in the biopesticides market and acquired 41.7% in 2014. The market growth in this region is attributed to growing demand for organic food as the organic industry is dependent on chemical-free crop protection products to safeguard crops. Globally, North America generated the highest revenue in the biopesticides market in 2014. Asia Pacific held the second largest market share in 2014 witnessing a significant growth. Asia Pacific was the second largest market for biopesticides in 2014. The remarkable biotechnological growth, which has witnessed a new growth paradigm in Asia Pacific, is driving the market further. These developments have led to the production of better and more effective biocontrol agents. Globally, the biopesticides market is anticipated to witness a high growth rate in the biofungicide and bionematicides segments.

The biopesticides market was consolidated, where top five players acquired more than 50% of the market in 2014. The key players in the biopesticides market include BASF SE, Arysta LifeSciences, Valent Biosciences Corp, Bayer CropScience AG, Dow AgroSciences, Novozymes A/S among others.

This research study is specially designed to estimate and analyze the demand and usage of biopesticides in the global scenario. Under the scope of the report, bioinsecticide, biofungicide, bionematicides and bioherbicides product types are covered. On the basis of active ingredients, the market is bifurcated into microbial pesticides, plant-pesticides, biochemical pesticides.

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In addition, based on crop type, the market is segregated into permanent crops and arable crops among others. Others crop type segment include forage & turf grasses and greenhouse crops. By application, the market is further segmented into seed treatment application, on farm application and post harvest application. The research study provides in depth analysis of the by product segment across different geographies. The scope of the study presents a comprehensive evaluation of the stakeholder strategies and winning imperatives for them by segmenting the biopesticides market as below:

Global biopesticides market has been segmented as follows:

Global biopesticides market, By Product Type
Bioinsecticide
Biofungicide
Bionematicides
Bioherbicides

Global biopesticides market, By Active Ingredients Type
Microbial pesticides
Plant-pesticides
Biochemical pesticides

Global biopesticides market, By Crop Type
Permanent Crops
Arable Crops
Others ( forage & turf grasses and greenhouse crops )

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