(MENAFN- iCrowdNewsWire) According to the latest report by IMARC Group, titled “ Biopesticides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026 ,” the global biopesticides market reached a value of US$ 3.96 Billion in 2020 . Biopesticides are biochemical pesticides derived from naturally occurring substances, such as bacteria, plants, animals, and microbes. They are used to control various pests and disease-carrying organisms, including mice, ticks, and rats. There are majorly three forms of biopesticides, namely bioherbicides, bioinsecticides, and biofungicides. These pesticides manipulate the growth of pests, insects, and weeds in crops by getting directly sprayed in the soil through a foliar spray. As compared to conventional pesticides, they are inherently less toxic as they are decomposable in nature, offer long-term pest control, and are highly effective even when applied in small quantities.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Biopesticides Market Trends:
The widespread adoption of organic farming practices, in confluence with significant growth in the agriculture industry, represents one of the key factors driving the global biopesticides market growth. In line with this, increasing concerns regarding soil health and agriculture sustainability are acting as another major growth-inducing factor. There is rising awareness regarding the detrimental effects of chemical pesticide application on the soil and the produced crops, which, in turn, is catalyzing the utilization of biopesticides across the globe. This, along with shifting consumer preference toward organic food products, is creating a positive outlook for the market. Other factors, such as the implementation of stringent policies to promote sustainable farming and innovations in the field of agricultural sciences, are driving the market toward growth further. Looking forward, the market value is expected to exceed US$ 8.65 Billion by 2026, registering a CAGR of 14% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- BASF
- Bayer Cropscience
- Certis USA LLC
- FMC Corporation
- Isagro
- Koppert B.V.
- Marrone Bio Innovations
- Novozymes Biologicals
- Stockton (Israel) Ltd.
- Syngenta
- The Dow Chemical Company
- Valent BioSciences Corporation
Market Segmentation:
Our report has categorized the market based on region, product, formulation, source, mode of application and crop type.
Breakup by Product:
- Bioherbicides
- Bioinsecticides
- Biofungicides
- Others
Breakup by Formulation:
Breakup by Source:
- Microbials
- Plant Extract
- Biochemicals
Breakup by Mode of Application:
- Foliar Spray
- Seed Treatment
- Soil Treatment
- Post-Harvest
Breakup by Crop Type:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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