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Biopesticides Market Size, Registered USD 77.14 Billion in 2019 and projected to hit USD 113.76 Billion by 2023
The global biopesticides market is mainly driven by the growing interest in sustainable agriculture and the growing government support to the same, which has driven corporate backing and investment.
pune, India - May 20, 2019 /MarketersMedia/ —
Market Overview:
Biopesticides Market Size, Registered USD 77.14 Billion in 2019 and projected to hit USD 113.76 Billion Says Market research future report. Biopesticides are pesticides that rely on natural mechanisms such as naturally occurring bacteria or chemicals to get rid of pests. Biopesticides are specifically developed for specific pests and utilize natural methods that the pests can’t withstand to eliminate them in a way that is harmless for the rest of the field. Since they rely on natural processes rather than synthetic chemicals, biopesticides do not leave a toxic residue. This is likely to be the key driver for the global biopesticides market over the forecast period, as the toxicity caused by synthetic pesticides has become a major concern for the global agriculture sector in recent years.
The global biopesticides market is expected to undergo rapid progress over the forecast period, according to the latest research report from Market Research Future (MRFR). The global biopesticides market is mainly driven by the growing interest in sustainable agriculture and the growing government support to the same, which has driven corporate backing and investment.
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Market Scenario and Growth Factors:
On the other hand, the high prices of biopesticides could hinder the global market’s growth over the short term. However, the increasing government support for the development of biopesticides is likely to smoothen this obstacle over the forecast period, as government subsidies and concessions are likely to play a key role in enabling the widespread adoption of biopesticides by farmers, especially in impoverished regions such as Asia Pacific and Latin America.
Biopesticides are a major step in advancing the cause of sustainable agriculture, or agriculture that can be continued without harming the environment. Of the many steps to be taken to counter the adverse effects of agriculture on the environment, biopesticides are among the most important. The toxic residue left by synthetic pesticides has been the cause of significant health scares in recent years, as toxic materials have leeched into water bodies. Using natural means to combat pests also makes it likelier that the pests will not return of their own volition, rather than having to rely on repeated doses of synthetic pesticides.
Competitive Analysis:
Leading players in the global biopesticides market include Bayer Crop Science AG, BASF SE, Syngenta, Certis USA LLC, Novozymes Biologicals, Monsanto Company, and DuPont.
In April 2019, STK, a leading Israeli firm in the field of botanical sustainable crop protection, announced a partnership with Summit Agro U.S.A. wherein Summit will become the exclusive distributor of STK products in the U.S.
In February 2019, Ecolibrium Biologicals, a small-scale producer of biopesticides in New Zealand, signed a licensing agreement with Chinese company CoBio to exclusively produce and sell one of their products, Lateral, in China. Support from the Chinese government to sustainable agriculture efforts could prove crucial for the global biopesticides market over the forecast period, as China has the world’s largest consumption figures for synthetic pesticides.
Segmentation:
The global Biopesticides Market is segmented on the basis of type, form, application, crop, and region.
The biopesticides market is segmented on the basis of type into bioherbicides, bioinsecticides, biofungicides, and others. The bioinsecticides segment is likely to grow at the fastest rate over the forecast period due to their convenient, easy application.
Based on form, the global biopesticides market is segmented into dry, liquid, and others. The liquid segment is gaining widespread popularity owing to its higher 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. The foliar spray segment is dominating the market and is also expected to grow substantially over the forecast period.
Based on the crop, the biopesticides market is segmented into cereals and grains, fruits and vegetables, oilseeds, and others. The cereals and grains segment dominates the global biopesticides market at present. However, the fruits and vegetables segment is expected to a witness substantial growth over the forecast period.
Regional Analysis:
North America is the largest regional market for biopesticides at present, whereas Asia Pacific is expected to exhibit the highest growth rate over the forecast period. The growing demand for organic farming in the U.S. has been a key driver for the biopesticides market in North America and is likely to drive the demand over the forecast period. Europe also holds a significant position in the global Biopesticides Market due to widespread government and popular support for sustainable agriculture solutions. India and China are likely to lead the Asia Pacific market’s charge over the forecast period due to the growing populations of the two countries and the growing need to increase agricultural output through sustainable means.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research future
Address: Office No. 528, Amanora Chambers, Magarpatta Road, Hadapsar,,
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/biopesticides-market-5098
Source: MarketersMedia
Release ID: 514497
This announcement was published as provided by the company. The Asean Coverage editorial team did not write or edit it.