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Adoption of Green Farming Practices to Influence Global Biopesticides Market
Biopesticides are chemicals derived from natural or organic sources and deemed to be less toxic to the environment. It does not have a long-term control over pests. These chemicals interfere with mating of insects or chemicals dispersed by plants to attract insects. Different types of biopesticides include biofungicide, bioinsecticide, bioherbicide, and others. The global biopesticides market report by Market Research Future (MRFR) contains data collected by analyst from interviews by experts and other respected sources. It contains predictions and projections for the period between 2017 to 2023 (forecast period).
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Market Scope
The global biopesticides market is expected to experience growth at 15.9% during the forecast period. Acceptance of these chemicals as an alternative to chemicals for spraying is expected to culminate in high dividends for the market. Rising demand for organic products is likely to work in favor of the market. The leaning of consumers towards crops derived without synthetic chemicals will trigger the demand for biopesticides.
Easy registration of biopesticides due to lax regulations by the Environmental Protection Agency (EPA) due to its low risk value can bode well for the market and invite new players. Developing countries have simplified the registration process and introduced subsidies for establishment of facilities and R&D units for encouraging development of these chemicals.
Industry News
Marrone Bio Innovations Inc has led the charge of integrated pest management services with the introduction of biological pesticides. Its products are derived from pheromones, microbial extracts, plant extracts, and microbes. It can improve overall plant health and culminate in high yields.
Regional Analysis
The global biopesticides market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is currently dominating the market and will continue till the end of the forecast period. The U.S. is primarily responsible for massive demand for biopesticides owing to call for organic foods and products from consumers. Strict regulations pertaining to the environment in the U.S. and Canada has led to manufacturers switching to eco-friendly formulations with low risk to consumers. On the other hand, Europe is expected to exhibit the highest growth rate during the forecast period owing to adoption of green agricultural practices.
APAC is expected to be lucrative for the global biopesticides market owing to large economies of China and India. Introduction of integrated pest management programs (IPM) is likely to encourage adoption of these chemicals in the coming years.
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Segmentation
Biopesticides market is segmented on the basis of type, which includes bioherbicide, bioinsecticide, bio fungicide, and others. Among them, bioinsecticide is witnessed to be growing at the fastest rate during the forecast period due to its convenience and easy application. The commercial formulation contains a mixture of inert carriers, spores, and crystal proteins. It is available in the form of granules, wettable powders, and concentrates and highly compatible with chemical insecticides.
By form, it is segmented into dry, liquid, and others. The liquid formulation is gaining higher popularity owing to its increased shelf life as compared to other forms.
On the basis of the application, the biopesticides market is segmented into foliar spray, seed treatment, soil treatment, and others. Foliar-applied biopesticides are dominating the market and are expected to grow substantially over the forecast period.
Based on the crop, the biopesticides market is segmented into cereals & grains, fruits & vegetables, oilseeds, and others. The cereals & grains segment is dominating the market. However, fruits and vegetables are expected to a witness substantial demand over the forecast period.
Competition Outlook
BASF SE, Novozymes Biologicals, Certis USA LLC, Syngenta, Monsanto Company, Bayer Crop Science AG, and DuPont are key players of the global biopesticides market.
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