The new report by Expert Market Research titled, ‘Global Biopesticides Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global biopesticides market size forecast , assessing the market based on its segments like source, type, formulation, action, crop type and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 3.5 Billion
- Forecast CAGR (2023-2028): 8.3%
- Forecast Market Size (2027): USD 5.6 Billion
In the historical period (2016-2020), the market for biopesticides has seen a definite growth due to a definite rise in the technological advancements made in the field of microbiology and agricultural sciences. Such changes are expected to hold the upwards rise of this industry in the forecast period 2023-2028.
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The market has also seen a consistent rise due to increasing popularity of organic food, which has caused more land to come under organic cultivation and also caused international exports of organic food to grow. Since this is an ages-old practice’s revival, infused with scientific analysis, it can be helpful to have farmers adopt it.
Biopesticides Industry Definition and Major Segments
Biopesticides are organically prepared pesticides, which unlike synthetic pesticides, cause little to no pollution. They are relatively cheaper and are useful for sustainable agriculture. The highest market share is in North America, where most of the biopesticide factories are present. The growth rate can be expected to be high in the Asia Pacific region in the forecast period, because of limited arable land and rapidly growing populations.
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Biopesticides can be obtained from different sources like:
- Beneficial Insects
On the basis of type, it can be differentiated into:
The biopesticides market can be divided on the basis of formulation into:
It may be differentiated by mode of action as follows:
- Foliar Application
- Seed treatment
- Soil treatment
It may be divided on the basis of crop type into:
- Cereals and Grains
- Oilseeds and Pulps
- Fruits and Vegetables
On the basis of regional markets, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Biopesticides Market Trends
Governmental regulations about pollution of the water-table and soil have caused many farmers to switch over to biopesticides rather than use synthetic pesticides. Governments across the world have been investing money into the research of biopesticides and encouraging farmers to use biopesticides by educating them on their correct usage. As such, because of investment into research towards biopesticides, newer products are being developed. It is expected that the market value as well as the growth rate will grow in the forecast period of 2022-2027.
Key Market Players
The major players in the market are Bayer AG, Certis USA L.L.C, Marrone Bio Innovations Inc., Andermatt Biocontrol AG, BASF SE, and Syngenta Crop Protection AG, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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