Key Trends Shaping the Biopesticides Market
The report "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation, Crop Application, and Region - Global Forecast to 2025" The global biopesticides market size 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 market is driven by factors such as an increase in area under of organically grown crops, growth in concerns regarding the hazards of using pesticides, demand for residue-free high-value crops, gradual phase-out of key active ingredients, and government policies are favoring the implementation of biopesticides.
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Fruits & vegetables are estimated to form the largest segment among crop types among the biopesticides market
Fruits & vegetables are projected to form the fastest-growing crop segment in the biopesticides market. An increase in area under protected cultivation such as greenhouses and demand for residue-free food crops are also driving the market for biopesticides. With the increasing area under fruit & vegetable cultivation, the inefficiency of conventional crop products, and heavy infestation and resurgence of insect pests and diseases in these crops is witnessed, which reduces the quality and overall appearance & taste of the produce. With recent desert locust attack on key crops across regions, biopesticide can provide a sustainable solution for control of such invasive pests. Therefore, farmers have also been adopting biopesticides in combination with conventional crop protection chemicals to obtain a longer duration of pest control.
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118 - Tables
52 - Figures
249 - Pages
Foliar spray is estimated to be the fastest-growing market in the biopesticides market
Foliar spray is projected to be the largest-growing segment during the forecast period from 2020 to 2025. Foliar spray is widely used due to its easiness and safety in application. It can be applied to the infected area and obtain curative results without further damaging the crop growth. The handling of biopesticides in foliar spray has been easy for farmers, without any risk of chemical burn. These are some of the key reasons, which are driving the market for foliar spray of biopesticides across the regions.
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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).