Global Biopesticides Market: Overview
Set to chart a splendid growth rate, compounded annually, the global biopesticides market is set to witness terrific growth between 2018 and 2028. And, a number of factors at play are contributing to this growth over the forecast period due to growing demand for bio fungicides, bio insecticides, bio herbicides, and so on.
The fact that these are extensively used in commercial cropping, for cereals, grains, oilseeds, pulses, vegetables, and fruits. Besides, they are also seeing application in turf and ornamentals. It is pertinent to note here that rising concerns about environment caused by use of chemical and synthetic variants is also coming to fore, pushing governments and users towards greener alternatives.
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Global Biopesticides Market: Competitive Landscape
The Global Biopesticides Market is a dynamic one with a number of developments marking its landscape. And, these developments are shaping the outlook of the market. Also, these determine the kind of competition the market faces over the forecast period. A glimpse into the competitive landscape is below.
The global biopesticides market is slightly fragmented and prominent payers occupying the market landscape are Bayer CropScience (Germany), Syngenta (Switzerland), BASF (Germany), Marrone Bio Innovations (US), Isagro (Italy), Valent BioSciences Corporation (US), Certis (US), Koppert (Netherlands), Bioworks (US), Stockton Group (Israel), FMC Corporation (US), and UPL (India), among others. For most of the players, product development holds key to a brighter future, and a larger market share.
Global Biopesticides Market: Key trends and driver
The global biopesticides market is on the road to massive growth, which will generate a slew of opportunities for the market players operating the field. Some of the trends and drivers which are behind this growth are outlined below:
- Registration is Easy – Owing to low risks as compared to chemical or synthetic pesticides, registration for biopesticides is easy. Thus, it surprises no one to note that it takes less than a year to get new biopesticides registered. On the other hand, a chemical pesticide takes 3 years on an average. Additionally, a lot of developing nations are further simplifying the process to promote biopesticides. Some are also directing investment in research. And, this is leading to improvement in the landscape, generating great opportunities for market players to dabble with.
- Demand for natural or herbal products is seeing an increase in demand across major industry verticals. And, agriculture is no different. And, as better products are launched, demand only improves. Some of the active ingredients in biopesticides are as effective as ate those if chemical or synthetic pesticides. This helps drive much growth in the global biopesticides market.
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Global Biopesticides Market: Regional Analysis
The largest regional market in the global landscape is set to be North America, owing to United States’ heavy contribution. Besides, the region sees growth due to growing popularity of green agricultural practices. Moreover, many products have been lost over the years due to poor performance or obsolescence. However, the position of fastest growing market will be held by South America, which will record a significant 16%+ CAGR over the forecast period.
Another region that will be significant in terms of growth over this period is the Asia Pacific (APAC). This growth that the region is set to chart in the global biopesticides market is owed to stringent regulations and government support extended towards biopesticides.
The report is segmented into the following:
- Liquid Formulation
- Dry Formulation
- Microbial Pesticide
- Plant Pesticide
- Biochemical Pesticide
Mode of Application:
- Foliar Spray
- Seed Treatment
- Soil Treatment
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