|Status : Published||Published On : Apr, 2021||Report Code : VRCH 2067||Industry : Chemicals & Materials||Available Format :||Page : 194|
The global biopesticides market is projected to grow at a CAGR of 15.3% from an estimated value of USD 4.6 billion in 2020 to reach USD 7.5 billion by 2025.
The global biopesticides market is increasing significantly as it provides a wide range of benefits to shippers, growers, food processors, retailers, and the end users. Moreover, apart from the usage on food, they are also contributing towards the protection of turf, forests, and ornamentals. They are also used for the betterment of public health where they are used for managing diseases and nuisances for instance for mosquito control.
The benefit of using biopesticides in agriculture is indirectly associated with the health of human. The application in agriculture helps the commercial growers in delivering healthy and affordable fruits and vegetables to the consumers around the globe. The biopesticides comprise of targeted modes of actions that allow the commercial growers to preserve beneficial insect or the natural predator’s population in their fields by helping the commercial grower to reduce the reliance on conventional chemical pesticides.
Biopesticides comprise of certain types of pesticides that are derived from such natural materials as animals, plants, bacteria, and certain minerals. For example, canola oil and baking soda have pesticide applications and are considered as biopesticides.
Biopesticides are also known as an integral component of integrated pest management programs that combines the cultural and chemical practices to maximize the production efficiency of agriculture and enhance environmental safety concerns. The biopesticides with these features provide flexibility to the commercial growers. Since the biopesticides have a short restricted entry and harvest interval that helps in further managing the ripening process of crops. Biopesticides can be used to treat the plants by using foliar sprays, seed treatment, and soil treatment or can be applied post-harvest.
Insight by Type
On the basis of type, the biopesticides market is categorized into bioinsecticides, biofungicides, bioherbicides, bionematicides, and others. Among these categories, bionematicides is expected to grow at the fastest rate during the forecast period due to its wide usage in seed treatment and growing focus on new product development of bionematicides by crop protection companies. However, the bioinsecticides and biofungicides segment held the largest revenue share in the global biopesticides market.
Insight by Crop Type
Based on crop type, the biopesticides market is categorized into grains & oilseeds, fruits & vegetables, others. The demand for biopesticides in fruits and vegetable category remained the highest during the historical period and also expected to contribute the highest share during the forecast period. Globally, most of the fruits and vegetables are eaten without doing any industrial processing, so the chances of pesticides residue left on fruits and vegetables are higher in comparison to other crop types (consumed in raw form). In order to meet the increasing customer demand for pesticide-free vegetables and fruits, the marketers are adopting the biopesticides, which in turn increases the growth of the market.
Insight by Mode of Application
On the basis mode of application, the biopesticides market is categorized into seed treatment, soil treatment, foliar spray, and post-harvest. During the forecast period, the market for application of biopesticides via foliar spray held the largest revenue share in the global biopesticides market as it is available at lower cost in comparison to other categories, very convenient to use, and also helps in covering the overall area of the leaf. Moreover, also helps in cutting down the problem of leaching in soils.
Insight by Origin
Based on origin, the biopesticides market is categorized into microbial pesticides, biochemical pesticides, plant-incorporated protectants, and beneficial insects.
The increasing awareness regarding the hazardous chemical pesticides and growing demand for organic food is driving the growth of the global biopesticides market. The use of synthetic fertilizers consumption has drastically increased and developed several harmful effects on human health. The introduction of biopesticides has eliminated such a negative impact created by chemical fertilizers and is considered to be a friendly option for non-targeted species.
The biological pesticide products occur in a natural manner and help in reducing the cost of production for the commercial growers that results in relatively cheaper prices as compared to chemical pesticides that involve a high cost of manufacturing. The biopesticides are observing greater market preference as compared to the chemical pesticides and various agricultural awareness initiatives are developed by the government organizations for the growers to implement the biopesticides in their agricultural activities.
The increasing growth in bio-control seed treatment solutions and the use of essential oil-based insecticides in organic agriculture is creating opportunities for the global biopesticides market. The plant essential oils are observing a broad spectrum of activity against pest insects and plant pathogenic fungi that are ranging from a repellent, insecticidal, antifeedant, growth regulatory and anti-vector activities. The wide availability of essential oils from the flavor and fragrance industries and it has made it possible to fast track commercialization of essential oil-based pesticides and is thus driving the growth of the global biopesticides market. The lack of awareness and low adoption rate of biopesticides is the major restraint observed in the growth of the global biopesticides market.
Geographically, North America is expected to be the largest biopesticides market. Biopesticides are helping the region to promote healthy crops and thereby increasing the saleability frequency of the commercial crops. Increasing demand for organic food and stringent food safety regulations are major factors driving the growth of the North American biopesticides market.
Some of the key players operating in the global biopesticides industry are Bayer AG, BASF SE, The DOW Chemical Company, Monsanto Company, Marrone Bio Innovations Inc., Isagro SPA, Valent Biosciences Corporation, Certis Usa L.L.C., W. Neudorff GmbH Kg, Koppert B.V., Bioworks, Inc., and Camson Bio Technologies Limited.
Source: VynZ Research
Source: VynZ Research