_(2).png)
The global biopesticides market is growing rapidly; it is estimated to be worth USD 6.88 billion in 2023 and is anticipated to reach USD 20.46 billion by 2035. It is expected to grow at a compounded annual growth rate (CAGR) of 9.50% during the forecast period.
In recent years, biopesticides have gained significant attention as an environment-friendly way to control pests that damage crops. Biopesticides refer to the biological compounds made from natural resources such as plants, animals, microorganisms, and certain enzymes. These compounds harness natural mechanisms to kill pests without damaging the natural environment. Biopesticides offer several significant advantages, such as target specificity and not impacting non-targeted species; thereby, they are used to safeguard crops against bacteria, fungi, insects, nematodes, and viruses. It is interesting to note here that biopesticides / Biocontrols received regulatory approval faster than chemical-based pesticides owing to their potential to eliminate pests without causing harm to the environment. Moreover, biopesticides also play a crucial role in integrated pest management practices, therefore promoting sustainable agriculture practices. As the demand for biopesticides is increasing worldwide due to widespread adoption, it is anticipated that the biopesticides market is going to witness substantial growth during the forecast years.
You Can Download Free Sample PDF Copy Of This Report At:
https://www.rootsanalysis.com/reports/biopesticides-market/request-sample.html
Growth Factors
Some of the promising factors that are driving the biopesticides market include growing demand for organic food production, rising environmental concern, and subsequent adoption of biological pest management solutions. The increasing awareness about the benefits of organic and sustainable farming among people across the globe has led to an increase in demand for biopesticides. Driven by the rising opportunities, several biopesticides market players signed partnership agreements to accelerate the production of novel biopesticides, which is anticipated to grow the market.
Market Outlook
With increasing awareness about organic and sustainable farming practices, coupled with innovation and strategic partnerships, the biopesticides market is positioned for substantial growth. The shift toward eco-conscious agriculture continues to drive demand for these environmentally friendly pest management solutions.
Market Drivers
Key Drivers of the Booming Biopesticides Market
1. Increasing Adoption of Integrated Pest Management (IPM)
- Role of IPM: Integrated pest management (IPM) emphasizes sustainable and efficient pest control, often incorporating biopesticides to reduce the risk of agrochemical-resistant pests.
- Demand Surge: The widespread adoption of IPM practices in agriculture has significantly boosted the use of biopesticides, driving market growth.
2. Rapid Growth in Seed Treatment Solutions
- Seed Treatment with Biopesticides: Farmers increasingly rely on seed treatment solutions to protect crops from pests and diseases, fostering the growth of biopesticides tailored for this application.
- Efficiency and Sustainability: Biopesticides in seed treatments provide long-lasting protection while aligning with environmentally friendly practices.
3. Rising Awareness About Organic Farming
- Shift to Organic Practices: Growing consumer demand for chemical-free and organic produce has heightened the need for biological pest control methods.
- Environmental Benefits: Awareness about the environmental impact of chemical pesticides has accelerated the adoption of biopesticides as a safer, sustainable alternative.
Future Outlook: Biopesticides Market Growth
With increasing global focus on sustainable agriculture and eco-friendly farming solutions, the use of biopesticides is expected to rise significantly. The combination of IPM practices, advanced seed treatment solutions, and the organic farming movement ensures robust market expansion in the years to come.
Market Restraints
Several factors that hinder the growth of the biopesticides market include a lack of technical expertise and a high cost-to-productivity ratio. Lack of technical advancement and use of inefficient microbial strain for biopesticide production may impact the product performance, resulting in limited adoption, which further impacts the market growth. Furthermore, the effect of biopesticides is short-lived under the influence of several abiotic and biotic stress factors. The application of biopesticides on crops is a complex process—it requires a special mode of application that enhances overall cost.
Biopesticides Market Segments
Based on the source of the product, the biopesticides market is segmented into microbes, plant extracts, and other sources.
▪ Based on the source of products, microbes are dominating the biopesticides market, holding a significant share of 58% in 2023.
▪ Plant extracts are expected to experience substantial growth and are estimated to grow at a higher CAGR of 10.48% during the forecast period.
Based on the mode of application, the biopesticides market is segmented into foliar sprays, seed treatment, soil treatment, and other application methods.
▪ Based on the mode of application, the biopesticides market is led by foliar sprays, capturing 55% of the market share in 2023.
▪ Seed treatment is likely to grow at the highest compounded annual growth rate of 10.19% during the forecast period 2023-2035.
Based on the type of crop treated, the biopesticides market is segmented into cereals and pulses, fruits and nuts, oilseeds, green fodder, vegetables and tubers, industrial crops, textile crops, and others.
⬝ Based on the type of crop treated, the biopesticides market is dominated by cereals and pulses, holding a significant share (33.3%) in 2023.
⬝ Fruits and nuts are expected to grow at the highest compounded annual growth rate of 10.49% during the forecast period.
Based on the key geographical region, the biopesticides market is segmented into North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
⬝ North America is dominating the biopesticides market, capturing 39.4% of the overall revenue share in 2023.
⬝ In Asia-Pacific, the biopesticides market is growing at a higher CAGR of 10.74% during the forecast period.
Key Companies Profiled
Examples of the key companies engaged in the biopesticides market (which have also been profiled in the market report; the complete list of the companies is also included in the full report) include:
⬝ Andermatt
⬝ Bayer
⬝ BioSafe Systems
⬝ Certis Biologicals
⬝ Corteva Agriscience
⬝ Novozymes
⬝ Nutri-Tech Solutions
⬝ ProFarm
⬝ Syngenta
⬝ Valent Biosciences
Recent Developments in Biopesticides Market
It is worth highlighting here that several biopesticides market players have collaborated to increase their resources to meet the growing demand for biological solutions to control pests. Examples of such types of partnerships are listed below.
⬝ In June 2023, Corteva Agriscience and the US Agency for International Development collaborated to enhance farmer's accessibility to advanced crop inputs.
⬝ In May 2023, Novozymes and Azelis signed a partnership for the distribution of bio-ag solutions manufactured by Novozymes in Malaysia.
⬝ In May 2022, UPL Limited and AgBitech entered into a strategic partnership. Under this partnership, UPL will distribute AgBiTech’s bio solutions, beginning with two bioinsecticides, Heligen and Fawligen.
You Can Order the Complete Report on the Biopesticides Market Online by Clicking On the Given Link
https://www.rootsanalysis.com/uploads/documents/Biopesticedes-Market-Order-Form.pdf
Key Benefits of Buying this Report
⬝ The report offers market leaders and newcomers valuable insights into revenue estimations for the overall market and its sub-segments.
⬝ Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
⬝ The report provides stakeholders with a pulse on the spectrometry market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.
About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists, and strategic investors for over a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serving our clients in the best possible way.
Contact US
Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
Email: [email protected] or [email protected]
Website: https://www.rootsanalysis.com
Comments