MarketsandMarkets™The global biopesticides market is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025
The global biopesticides market is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025. The usage of synthetic chemicals can lead to pollution and contamination of the soil as well as can have their harmful effects on the food chain. With this concern, there has been increasing awareness of residue-free food, because of which huge importance is given for biological products.
The acreage under organic cultivation for fruits & vegetables is also increasing, and to achieve the standards prescribed by international exports, farmers are adopting the usage of biopesticides. To combat the harmful effects of synthetic pesticides, the government is taking initiatives in various regions by emphasizing the use of integrated pest management. Strategic developments such as expansions, new product launches, collaborations, and agreements have been adopted by the majority of key players to strengthen the market.
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By type, the bioinsecticides segment is projected to dominate the market during the forecast period.
An increase in the growing pest resistance and resurgence of crops are leading to the adoption of sustainable solutions such as bioinsecticides. Many insect pests are witnessed to damage the growth of the plant and also damage the crops post-harvest or in storage, resulting in crop loss. The marketability of the crops is also reduced due to the infestation caused by insect pests. Regulatory ban and phase-out of key active ingredients are leading to a requirement for alternate solution methods to control invasive pests. Therefore, bioinsecticides that do not kill natural enemies of pests, do not contaminate the environment, or leave residues in the products are dominating the market.
By crop type, the fruits & vegetables segment is projected to be the fastest-growing segment in the biopesticides market during the forecast period.
With the change in eating habits, farmers are pressurized to shift to adopt a sustainable method of farming. Fruit & vegetable cultivation requires more investment, and with the huge infestation in fruits & vegetables both in open fields and green-houses, the demand for biopesticides is increasing. Also, to meet the export demand for residue-free crops, farmers are implementing the use of biopesticide in combination with conventional chemicals. The trend in the consumption of organic crops is also pushing the farmers to adopt biopesticides.
The market potential in the European region is witnessed to increase in the forecast period
The increase in agriculture cultivation has led to the use of quality inputs to obtain better crop performance. The need to maintain minimum residual levels in food products, an increase in pest resistance for chemicals, and high growth prospects for organic food have been driving the biopesticides market in this region. Stringent regulations imposed by governments to limit excessive chemical application is also driving the market. Even governments have aided support through banning of pesticides so that the adoption of biological solutions grows exponentially. The demand for export quality fruits and vegetables in this region has compelled the farmers to take up sustainable solutions in farming. Various key companies are investing in these regions to expand the biopesticides business strategically.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA L.L.C (US), Novozymes A/S (Denmark), Marrone Bio innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India), Valent Biosciences LLC (US), BioWorks, Inc. (US), STK Bio-ag (Israel), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Bionema (US), Vegalab S.A (US), Isagro S.p.A (Italy), FMC Corporation (US), Koppert Biological Systems (Netherlands), and UPL Ltd (India).
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