Market Highlights
The global
biopesticides market Registering a CAGR of 13.3% by 2023-2030, reports Market
Research Future (MRFR). Biopesticides are biological pesticides derived from
natural materials such as plants, animals, and bacteria.
As there is no
foreseeable end to the accelerated demand for food due to ever-growing
population, biopesticides
market research act as the ideal solution as the practice that aids the
fertility and yield of decreasing arable land.
Drivers and Restraints
Numerous advantages of biopesticides prove to be
beneficial for market growth.
Several advantages of biopesticides that are expected
to fuel the growth of global
biopesticides market during the appraisal period include reduced environmental
damage, necessity for smaller amounts for
effective coverage, and quicker
decomposition. In addition, the
popularity of biopesticides has increased remarkably
in recent years owing to extensive research that has enhanced their
effectiveness. Furthermore, the techniques for the mass production, storage,
transport, and application of biopesticides have improved and are predicted to offer
lucrative opportunities in coming years.
Increasing government initiatives bodes well with global
market growth.
There is a
continuous surge in government efforts in a
number of developed nations to make crop protection more sustainable. These
efforts are ably supported by initiatives to discourage the injudicious use of
chemical pesticides that cause adverse effect on
human health and the ecology.
Lack of awareness in emerging economies holding back
the development of global market
There are few nations that are
underdeveloped to some extent and are largely
unaware of the benefits of biopesticides. This lack of awareness could
potentially impede market growth in coming years. On the other hand, a number of established companies are constantly focusing on sales and promotion of
their products in various regions. High investments for solidifying the market
position is one of the most favorable strategies adopted by these vendors. For
instance, in August 2018, Bionema Ltd announced
the completion of a USD 56 million equity investment, which will be used to
develop organic pesticides to reduce the use of chemical
pesticide for crop pest control.
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Market Segmentation
The biopesticides
market is segmented based on type, form, application and crop.
The types of
biopesticides are bioherbicide, bioinsecticide, bio fungicide, and others.
Among these, bioinsecticide has been observed to be growing at the fastest rate
on account of its convenience to use and easy application.
Form-wise, the
biopesticides market is segmented on the basis
of dry, liquid, and others. The liquid
formulation segment is steadily gaining higher popularity due to its increased
shelf life as compared to other forms.
By application,
the biopesticides market is segmented
into foliar spray, seed treatment, soil treatment, and others. Foliar-applied
biopesticides have been observed to be dominating the market and are expected
to grow remarkably over the forecast period.
On the basis of crop, the biopesticides market is segmented into cereals & grains, fruits
& vegetables, oilseeds, and others. Among these, the cereals & grains
segment is leading the market. On the other hand, fruits and vegetables segment is projected to observe a substantial
growth over the review period.
Regional Analysis
The global
biopesticides market is spread across the
regions of North America, Europe, Asia Pacific, and rest of the world (RoW).
Among all
regions, North America is leading the market with the United States (U.S) as a major contributor to this regional growth. Growing
demand for organic food in the countries in North America is fueling the market
growth. Moreover, the market in the region is progressing on account of simple registration process and increasing consumer
awareness about the ill effects of synthetic pesticides on human health.
Advanced
agricultural techniques in Europe is expected to trigger the biopesticides
market growth with the highest rate over the appraisal period. Spain, Italy, and France are the major biopesticide markets
in this region, as they face increased pressure from authorities for greater
sustainability in agriculture.
The Asia Pacific
will be subject to the fastest growth rate during the forecast period. In the region, India and China are two of the
largest countries in terms of population,
and also contribute majorly to the growth of the biopesticides market.
In Row, South
America is expected to dominate the market with high
focus on agriculture and use of techniques to yield better crop production.
Key Biopesticides market Players Monsanto
Company (U.S.), Syngenta (Switzerland), Bayer Crop Science AG (Germany), DuPont
(U.S.), BASF SE (Germany), Novozymes Biologicals (Denmark), Certis USA LLC
(U.S.) are some of the key players contributing to the market growth.
July 2018 –
Vestaron Corporation has made available its Spear-T bioinsecticide for
greenhouse growers, after the final EPA approval of its manufacturing process
for a liquid formulation. Spear-T is an insect control solution, which provides
the efficacy of synthetic chemistry with
the safety benefits of biological. It is designed to be non-toxic to mammals,
birds, fish, honeybees, and other insects. It is
also used with regular fogging/spraying equipment.
Agricultural
Surfactants Market Research Report Information: By Product Type
(Non-Ionic, Anionic, Cationic), Substrate Type (Synthetic, Bio-Based), Crop
Type (Cereal & Grain, Fruit & Vegetable), Application (Herbicide,
Fungicide) and Region - Forecast Till 2030
Soil Stabilization Market Research Report
Information By Additive (Polymers, Minerals & Stabilizing Agents, and
Others), By Method (Mechanical and Chemical), By Application (Industrial,
Agricultural, and Others), and By Region (North America, Europe, Asia-Pacific,
and Rest of the World) –Market Forecast Till 2032.
NOTE: Our Team of Researchers are Studying Covid19 and its
Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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