Market Analysis
The global biopesticides market is predicted to grow at a healthy CAGR between 2017-2023, states the latest Market Research Future (MRFR) report. Biopesticides, simply put, are types of pesticides that are derived from natural materials such as bacteria, plants, animals, and certain minerals. They are highly favored over conventional pesticides as they are inherently less toxic, affects just the target pest, decompose easily, are effective even in small quantities, and have lower exposure and less pollution problem.
Various factors are propelling the biopesticides market growth. Some of these factors, according to the Market Research Future report, include a shift in trend towards the use of organic products, growing health concerns about the usage of synthetic pesticides, cost-effective nature, increasing use as an alternative to chemical or synthetic pesticides in IPM systems and organic farming, and eco-friendly nature. Additional factors pushing market growth include limited time needed for research and development activities in biopesticide products, reduced investment cost, government support in favor of eco-friendly products, and involvement of start-ups in the research and development of biopesticide active ingredients.
On the flip side, most people are unaware of the different advantages offered by biopesticides, which is likely to inhibit biopesticides market growth over the forecast period.
To get more info: https://www.marketresearchfuture.com/press-release/biopesticides-industry
Market Segmentation
The MRFR report offers a wide segmental analysis of the biopesticides market on the basis of type, form, application, and crop.
Based on type, the biopesticides market is segmented into biofungicide, bioinsecticide, bioherbicide, and others. Of these, the bioinsecticide segment will lead the market over the forecast period on account of easy application and convenience to use.
Based on form, the biopesticides market is segmented into liquid, dry, and others. Of these, the liquid segment will dominate the market over the forecast period on account of its increased shelf life in comparison to other forms.
Based on the application, the biopesticides market is segmented into soil treatment, seed treatment, foliar spray, and others. Of these, the foliar spray segment will have the largest share in the market over the forecast period.
Based on crop, the biopesticides market is segmented into oilseeds, fruits and vegetables, cereals and grains, and others. Of these, the cereals and grains segment will have the maximum share in the market over the forecast period followed by the fruits and vegetable segment, which is predicted to have substantial growth.
Regional Analysis
By region, the biopesticides market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Rest of the World. Of these, North America will have the lion’s share in the market over the forecast period on account of the growing awareness of consumers regarding the harmful effects of synthetic pesticides, simple registration process, and burgeoning demand for organic food. The US is the chief contributor in this region.
The biopesticides market in Europe is predicted to have the second-largest share in the market over the forecast period. France, Italy, and Spain are the key contributors in this region as these countries face immense pressure from authorities, especially for higher sustainability in agriculture.
The biopesticides market in the APAC region is predicted to grow at the fastest pace over the forecast period. India, as well as China, are the leading contributors in this region with regards to population and at the same time, majorly contribute to the market growth.
The biopesticides market in the RoW is predicted to have a healthy growth over the forecast period on account of increasing focus on agriculture coupled with the usage of methods for yielding better crop production.
Key Players
Prominent players profiled in the biopesticides market report include Certis USA LLC (US), Novozymes Biologicals (Denmark), Syngenta (Switzerland), Monsanto Company (US), BASF SE (Germany), DuPont (US), and Bayer Crop Science AG (Germany).
Industry News
November 2019: The Labiofam Business Group is all set to expand its production in Central America. The entity will undertake investments that will increase the manufacture of various products, including biopesticides, biostimulants, and biofertilizers.
