Global Bio Pesticides Market Trend, Industry Analysis and Forecast, 2017 – 2024
Bio pesticides market is gaining popularity as compared to chemical pesticide owing to presence of microorganisms in the product that are less vulnerable to genetic variations which will enhance the productivity of yield.
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The fruits & vegetables market share is projected as the fastest growing market during predicted time owing to increase in demand for organic nutritional products. Due to increase in demand for rising population, it will be essential to maintain crop productivity and expected to boost the market for the product in fruits & vegetables segment.
The product provides many benefits over chemical insecticides such as it is less toxic as compared to chemical insecticides, affect only on pests, effective even in small quantities and decompose quickly. Applications of the bio pesticides in various modes which include soil treatment, foliar spray, soil amendments post-harvest and seed treatment. Foliar spray is used for applying bio pesticides to increase productivity of plants and improve quality of crops.
The major restraint for bio pesticides market is the presence of chemical insecticides which are more effective than organic insecticides and provide results in a short period of time as compared to organic pesticide. The product is rapidly degraded by UV lights, seasonal availability of raw materials which are used for manufacturing of bio pesticides indicates the need for its storage and not available easily. Other factors like rapid growth of chemical insecticides industry and poor water solubility are restraining the market growth.
The product is further classified based on usage of raw materials for their manufacturing process such as Microbial Insecticides, chemical insecticides, Beneficial insects and Plant-incorporated protectants. Microbial insecticides dominate this segment and occupy nearly 50% of the market share.
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Major factors responsible for organic pesticide market growth in this region are the demand for healthy and nutritious food, excessive use of chemical insecticides, ban of chemical insecticides and active participation of government bodies in educating farmers about the benefits of organic pesticide by organizing different conferences at a global level.
The bio pesticides market is fragmented in nature. Some of the major industry participants are include Bayer Crop Science, Marrone Innovations, Monsanto Company, BASF, Certis, Koppert Biological systems, Marrone Innovations and Valent Biosciences.
The market players focus on innovations and new product launch. In May, 2016, Bayer Crop Science has launched a fungicide luna for the protection of grapes and an organic pesticide for controlling cockroaches in residential and commercial areas. The company deals in agricultural products and a subsidiary of Bayer AG, India. It provides services in the field of crop protection, seeds and non-agricultural pest control.
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