Biopesticides Market witnessing double digit market growth
biopesticides market, biopesticides market size, biopesticides market analysis, biopesticides market share, biopesticides market r
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Biopesticides are an eco-friendly alternative to the synthetic pesticides and offer a unique and innovative approach to the management of weeds, using formulated microbial agents as an active ingredient. Microbes that are used in this approach include fungi, bacteria, viruses and nematodes.
The global biopesticides market is expected to reach USD XX million by 2021 from USD 2,466.70 million in 2015, witnessing a double digit market growth during the forecasted period. Currently, the market is highly competitive and to create a stronghold in the biopesticides market, many major biopesticide firms are working on strategies to adopt smaller firms.
The prevalence of chemical or synthetic pesticides in crop protection is expected to continue, however, human, animal and environmental health concerns are also likely to play a key role in driving the growth of the biopesticides market. Several countries are adopting a stringent approach when it comes to imports, with a special focus on regulating the quantity of pesticide residues.
As a result, the demand for regulated food safety and quality is increasing, which is another reason for growers to adopt biopesticides is their farming practices. Despite their low toxicity and environment impact levels, biopesticides face a major restraint in the form of high costs and low availability. In addition to frequent reapplication, due to their short lifespan, different biopesticides need to be used for different pests because of their high specificity towards pests. This increases the cost factor for the growers, and in turn proves to be a constraint.
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The future opportunity for companies lies in the increasing registrations of biopesticides in the various regional markets. The EPA requires fewer data and provides a simpler registration process, which is completed within a year, compared to the three-year tenure for synthetic pesticides. As a result, more companies are expected to take a voluntary step towards increasing their biopesticide portfolio. Also, the increasing awareness about the product advantages among the growers, along with the ease of access, will further drive the market growth.
The market is segmented based on the product type, formulation type, ingredient type, mode of application, crop and non-crop application and geography. By the product type, the market is segmented into bioherbicides, bioinsecticides, and biofungicides, with application in both crop-based and non-crop-based categories. Based on the main ingredient type, the market is divided into microbial, plant and biochemical-based biopesticides. Microbial biopesticides form the major part of the biopesticides market. Bt-based microbial pesticides are dominating the microbial pesticides segment with nearly 50% of the market share, followed by fungi (XX %), viruses (XX %) and nematodes (XX %).
Based on the type of formulation, the biopesticides market has been segmented into solid formulations and liquid formulations. Solid formulations increase crop yield but offer a low shelf-life. Contrary to this, liquid formulations provide an increased shelf-life and are preferred to solid formulations. Biopesticides can be used to treat the plants by using foliar sprays, seed treatment, soil treatment or can be applied post-harvest. By geography, Europe is the largest market. However, the emerging economies in Asia-Pacific are likely to take the lead in the adoption of biopesticides. North America and South America are also expected to show significant growth in the segment.
Major companies in the sector include:
Bayer Crop Science AG
Certis LLC, Agraquest
Koppert Biological systems
Recent Industry Insights
The biopesticides market is considered to be an emerging market, which is evident from the mergers and acquisitions by the industry giants. The acquisition of the two top companies AgraQuest and Prophyta by Bayer CropScience is one such example and has helped Bayer in making a significant impact on the biopesticides business sector. After releasing two products Kodiak ® Concentrate and Serenade SOIL ® in 2014, it plans to release Requiemâ„¢ by the end of 2017.
Valent BioSciences entered into a North American distribution agreement for a biofungicide product range with BioAg Allianc, constituting Monsanto and Novozymes. Likewise, Syngenta entered into a technical partnership with Pasteuria Bioscience for the development of a bionematicide. Companies such as Andermatt Biocontrol, Koppert Biological Systems, Certis USA, and many more, have introduced many biopesticides in the USA, Australia, Canada and South Africa in the year 2015.
Key Deliverables in the Study
Market analysis for the global biopesticide market, with region-specific assessments and competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the biopesticide market and are instrumental in changing the market scenario, on both global and regional scales.
Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders:
Producers and manufacturers
Agricultural input companies
Enterprises operating in the industry
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market
Supply chain analysis
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