The biopesticides market was valued US$ 4,600 million in 2022, it is estimated to grow at a CAGR of 11.5% from 2022 to 2028.
Biopesticides can be derived from animals, plants, bacteria, certain minerals, and other natural materials. Biopesticides are extracted from two major sources—biochemical and microbial. Biochemical pesticides are naturally occurring substances that control pest by nontoxic mechanism. However, microbial pesticides consist of microorganism, including bacteria, fungus, and virus, as an active ingredient. Biopesticide are preferred more than conventional pesticides due to low toxicity. Also, they are easily decomposed, which results in less exposure to atmosphere and helps in avoiding pollution problems. This parameter bolsters the biopesticides market growth.
MARKET DYNAMICS
The biopesticides market growth is mainly driven by the growing use of biofertilizers in the production of cereals and grains, oilseeds and pulses, and fruits and vegetables. The biopesticides are highly preferred in the developed countries due to stringent government norms regarding pollution caused by harmful chemicals. In terms of mode of application, the foliar spray segment is dominating the biopesticides market. Foliar spray helps plants absorb more water, minerals, and nutrients. The handling of the biopesticides has become easy for farmers due to foliar spray without any risk of chemical burn. There is an increasing awareness among consumers regarding the biopesticides use in crop production without any chemical residue remained after the process. The shift in preference of consumer toward organic products to lead a healthy life has forced farmers for adopting sustainable farming methods. All these factors are fuelling the biopesticides market growth.
MARKET SCOPE
The "Global Biopesticides Market Forecast to 2028" report aims to provide an overview of biopesticides market with detailed market segmentation based on type, source, mode of application, and crop type. The report provides key statistics based on the financial performance of the leading players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global biopesticides market is segmented on the basis of type, source, mode of application, and crop type. Based on type, the market is segmented into bioinsecticides, biofungicides, bionematicides, and bioherbicides. By source, the market is segmented into microbials, biochemicals, and others. Based on mode of application, the global biopesticides market is segmented into seed treatment, soil treatment, foliar spray, and others. Based on crop type, the market is segmented into cereals and grains, oilseeds and pules, fruits and vegetables, and others.
REGIONAL FRAMEWORK
The global biopesticides market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The report covers an analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
From the regional perspective, North America dominated the biopesticides market with ~35% share in 2021. The market growth in the region is majorly driven by the presence of a large number of biopesticides manufacturers and the high adoption rate of biopesticides. Syngenta; Marrone Bio Innovations, Inc.; Bayer AG; Novozymes A/S; and Certis USA L.L.C. are among the key biopesticides manufacturers in the region. These suppliers witness constant demand from the agriculture industry. The below figure shows the revenue growth trend in the biopesticides market in North America:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the biopesticides market. It also provides an exhaustive Porter's five forces analysis of the factors influencing the market.
IMPACT OF COVID-19 PANDEMIC
Owing to the effects of COVID-19 outbreak, the demand for fertilizers was declined globally. Also, the agriculture producers witnessed significantly lower volumes of orders due to restricted farming activities excluding essential products. The fertilizer production was hampered due to halt in manufacturing activities, creating huge demand–supply gap in the fertilizer market. However, since 2021, the fertilizer industry has been strongly growing, and the growth trend is foreseen to continue over the years. This would propel the consumption of biopesticides during the forecast period.
MARKET PLAYERS
The reports cover key developments in the biopesticides market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Also, acquisitions and partnership & collaborations are among the inorganic growth strategic activities witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The players operating in the biopesticides market are anticipated to experience lucrative growth opportunities in the future owing to the rising demand for biopesticides.
The report also includes the profiles of key biopesticides market companies, along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players’ company profiles, components and services offered, financial information of last three years, and key development in the past five years. Below mentioned is the list of a few companies engaged in the biopesticides market.
- BASF SE
- Syngenta
- Marrone Bio Innovations, Inc.
- Bayer AG
- Novozymes A/S
- Certis USA L.L.C.
- Andermatt Group AG.
- Nufarm
- MaxEEma Biotech Private Limited
- Greenwell Biotech
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.