Thursday, April 18, 2024

Biopesticides Market Is Expected To Reach USD 10.11 Billion By 2027.

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Market Summary: The global Biopesticides Market is projected to experience a growth rate of 14.2%, advancing from USD 3.50 billion in 2019 to USD 10.11 billion in 2027. The surge in demand for organic food and stringent government regulations are driving the expansion of the biopesticides market. Derived from renewable sources like animals or plants, biopesticides are environmentally less harmful than chemical pesticides. They find application in pest control for field crops and weed management. Escalating environmental and health concerns associated with chemical pesticides are steering consumer preferences toward biopesticides, fostering growth in the global biopesticides industry.

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Increased consumer awareness in developed economies regarding the excessive use of synthetic pesticides is driving the global development of organic food products. The market is experiencing growth due to stringent regulations from various governments aimed at reducing synthetic pesticide usage, along with initiatives promoting the benefits of bioinsecticides. Manufacturers of organic insecticides are actively launching new products, forming collaborations with well-known brands, and adjusting their products to accommodate climatic variations.

The United States Environmental Protection Agency (EPA) has streamlined the registration process for biopesticide manufacturers, resulting in a higher number of registrations compared to chemical pesticides. Additionally, some countries are offering grants to support the Research & Development of bioinsecticides, contributing significantly to the overall growth of the industry.

Product Type Outlook: Bioinsecticides hold a significant market share and are projected to reach USD 3.56 billion by 2025. Chemical insect pests damaging plant growth and reducing crop demand due to infestations drive the demand for bioinsecticides. Government regulations restricting chemical pesticide use further support biopesticide demand. Biofungicides are also experiencing substantial growth due to technological advancements resulting in more effective products that reduce fungicide-related damage.

Crop Type Outlook: Biopesticides are predominantly used in crops such as fruits & vegetables, cereals & pulses, grains & oilseeds, among others. Fruits and vegetables constitute the largest market share, accounting for approximately 52.6% in 2019 and expected to maintain dominance. Farmers are increasingly adopting biopesticides in combination with conventional chemicals to meet the growing demand for organic fruits and vegetables driven by changing dietary patterns and a preference for sustainable farming practices.

Companies and Deals Landscape: Key players in the Biopesticides Market include Valent Biosciences LLC, Koppert Biological Systems, Bayer CropScience AG, Syngenta AG, Marrone Bio Innovations, Andermatt BioControl AG, Stockton BIO-AG Technologies, International Panaacea LTD, Certis USA L.L.C, and BASF SE. Mergers and Acquisitions play a vital role in the market’s development.

Start-up Traction: The Biopesticides Market attracts numerous startups providing innovative products and technologies. Examples include Bee Vectoring Technologies, BioLogic Insecticide, WeedOUT, BioPhero, and AgroSpheres. BioLogic Insecticide, a U.S.-based startup founded in 2017, offers a cost-effective, non-toxic, and environmentally friendly biopesticide.

Expert Insights: Reports and Data foresee increased adoption of modern farming techniques and biopesticides, driven by the demand for organic food products. New manufacturers are expected to enter the market, providing eco-friendly, cost-effective, and renewable biopesticide solutions.

Segments Covered in the Report: This report forecasts revenue growth globally, regionally, and at a country level, analyzing market trends in sub-segments from 2018 to 2027. The report covers:

For this report, Reports and Data segmented the global Biopesticides Market based on product type, crop type, mode of application, source, formulation, and region:

Product Type Outlook (Revenue, USD Billion; 2017-2027):

  • Bioherbicides
  • Bioinsecticides
  • Biofungicides
  • Bionematicides
  • Others

Crop Type Outlook (Revenue, USD Billion; 2017-2027):

  • Fruits & Vegetables
  • Cereals & Pulses
  • Grains & Oilseeds
  • Others

Mode of Application Outlook (Revenue, USD Billion; 2017-2027):

  • Seed Treatment
  • Foliar Spray
  • Soil Treatment
  • Others

Source Outlook (Revenue, USD Billion; 2017-2027):

  • Biochemical
  • Microbial
  • Beneficial Insects
  • Others

Formulation Outlook (Revenue, USD Billion; 2017-2027):

  • Liquid Formulation
  • Dry Formulation

Regional Outlook (Revenue, USD Billion; 2017-2027):

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, BENELUX, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • MEA (Saudi Arabia, UAE, Rest of MEA)

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