Updated News: Increasing Demand for Organic Food Has Expected to Boost the Growth of the Global Biopesticides Market During the Forecast Period
Global Biopesticides Market: Key Highlights
- The Global Biopesticides Market is estimated to reach USD 14.2 Billion by 2027 at a CAGR of 15.7% during the review period
- The global Biopesticides market is segmented by product, type, formulation, mode of application, and crop type channel
- Based on type the market is segmented by biochemical, microbial, and plant-incorporated-protectants (PIP). Plant-incorporated protectants segment is expected to grow at the fastest growth rate and is projected to grow at 17.4% CAGR during the forecasted period
- On the bases of region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia-Pacific is expected to be the fastest growing region, anticipated to grow at 18.4 % CAGR during the forecasted period. This is attributed by the rising need for chemical free pesticides in the region coupled with growing demand for organic farming.
Global Biopesticides Market: Key Market Dynamics
- Benefits associated with the use of biopesticides such as environmentally friendly, relatively cheaper product, various health benefits, and amongst others has anticipated to drive the growth of the biopesticides market during the forecast period. Additionally, the use of biopesticides in Integrated Pest Management (PIP) has expected to propel the growth of market
- Further, growing opportunities in emerging economies of Asia pacific and South America coupled with increasing organic farming has anticipated to pose an opportunity for biopesticides market
- The preference for farmers in developing countries towards chemical pesticides has anticipated to pose a major challenge to market growth.
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Global Biopesticides Market: Regional Overview
- North America:
- North America region is further divided in to US, Canada and Mexico. Globally, North America is expected to dominate the biopesticides market share. This is attributed by The increasing awareness of organic farming and increasing need for exports of cereals, grains, and fruits & vegetables other countries.
- The United States produces and sells various agriculture products across the nation. In 2019, the United States listed 2,023,400 farms and the total land acquired by the farms is 897,400,000 acres.
- Moreover, the US is a major producer and exporter of cereals & grains and fruits & vegetables. Hence, the availability of agricultural land and the increasing need for organic farming in North America will drive the biopesticides market in this country.
- According to the Government of Canada, three types of biopesticides such as microbial, semi-chemical, and non-conventional pest control products are used for various types of crops to fulfilling the increasing demand for organic farming
- Asia Pacific
- Asia Pacific region is segmented into five major countries including China, Japan, India, Australia, South Korea and Rest of Asia-Pacific
- Asia Pacific region is expected to grow at the fastest growth rate owing to growing population, availability of large agriculture land, supportive government initiatives, and increasing demand for organic food
- China is one of the strongest economies in the world in terms of population, agriculture, and many more. China feeds approximately 22% of the world population with only 7% of the planet’s arable land annually. According to FiBL survey, the country had the third-largest organic land (3.14, million hectares) in 2018
- In 2018, India had largest organic producers (1,149,371) in the world. According to IBEF, organic agriculture is rapidly increasing and is expected to reach USD 10.73 billion at a CAGR of 10% till 2025
Global Biopesticides Market: Key Players
Some of the key players operating in the market include BASF SE, Syngenta, UPL, FMC Corporation, Isagro Group, Valent BioSciences LLC, Certis USA L.L.C., Koppert Biological Systems, BioWorks Inc., Bayer AG, Marrone Bio Innovations, Andermatt Biocontrol AG, and among others.
Global Biopesticides Market: Key Developments
- In July 2020, Andermatt Biocontrol AG registered Madex Twin in Greece aiming to expand its presence in Greece. Madex Twin is a biological insecticide for the control of codling moth.
- In November 2019, UPL has announced that one of its subsidiaries in Hong Kong, has signed an agreement to acquire 100% share of Yoloo Biotechnology Co., Ltd. (“Laoting Yoloo”) (China), an] agrochemical company. The purpose of UPL behind this acquisition is to create an open network for agriculture, activating connections across the world’s agriculture system.
- In August 2020, FMC Corporation has entered into a collaboration with Zymergen Inc (US), a science and material innovation company, to develop a new, faster, natural product discovery process for the development of novel crop protection solutions.
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