Global Biopesticides Market Growing at A CAGR Of 10.9% 2019-2026
The global
biopesticides market was valued at USD 3,361.3 million in 2018 and is expected
to reach USD 7,863.4 million in 2026, growing at a CAGR of 10.9% during the
forecast period.
Biopesticides are kind
of pesticides derived from natural materials as animals, plants, and bacteria
among others. Additionally, there is a wide prevalence of chemical or synthetic
pesticides in crop protection due to health concerns is expected to play a
significant role in the development of the biopesticides. Considering the
current scenario, several countries are adopting a stringent regulation
approach concerning the number of imports for consumption, with a special focus
on regulating the number of pesticide residues. Increase bans on synthetic
pesticides and advancements in integrated pest management solutions are the
main driving factors for the growth of the global biopesticides market.
The growth in the
environmental-friendly products for agriculture application and growing support
for the disposition of biological solutions despite chemical pesticides across
organic farming and IPM systems. Furthermore, these products are cost-efficient
compared to chemical pesticides. This expected to create opportunities for the
development of biopesticides in the global market in the future.
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However, the short
shelf life of biopesticides and stringent approach concerning the number of
imports are expected to restrain the growth of the market during the forecast
period. The bioinsecticide segment expected to dominate the market throughout
the forecast period Based on the product, the global biopesticides market has
been segmented into bioinsecticide, bionematicides, biofungicide, and others.
The bioinsecticide type
segment accounted for more than 50% of the share in the global biopesticides
market in 2018 owing to increase in health concern will lead pest control and
ensuring food security for the consumers. Furthermore, increase efforts to
tackle difficulties associated against insects, key manufacturing companies are
aiming to increase the number of microbes tested, which expected to increase
the demand and sales for bioinsecticide in the global market over the forecast
period. While the biofungicide segment accounted for the highest CAGR of around
12% in the global biopesticides market during the forecast period. Based on
formulation, the supermarkets /hypermarkets segment is expected to grow at a
CAGR of around 11% throughout the forecast period Based on the formulation, the
market has been segmented into the liquid formulation and dry formulation.
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The liquid formulation
segment accounts of the largest share in the market and are expected to grow at
a CAGR of around 13.5% during the forecast period. This segment is expected to
grow due to an increase in innovations and advancements have also been
approaching for the liquid formulation of biopesticides for foliar application.
Based on the ingredient, the beverage segment is expected to dominate during
the forecast periodBased on the ingredient, the market has been segmented into
microbial pesticide, plant pesticide, and biochemical pesticide. The microbial
pesticide segment accounts of the largest share in the market and held for more
than 50% of the total market in 2018. Based on the mode of application, the
foliar spray segment is expected to dominant the market during the forecast
period Based on application, the market has been segmented into foliar spray,
seed treatment, soil treatment, and post-harvest.
The foliar spray mode
of application segment accounts of the largest share in the global
biopesticides market in 2018. The major factors that are driving the growth of
this segment are the change in focus from using biological crop protection
techniques to naturally-derived pest-control materials, which estimated to
create product demand for types of biopesticides in the market. Based on the
application, the crop-based segment is expected to dominant the market during
the forecast period Based on the application, the market has been segmented
into crop-based and non-crop-based.
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The crop-based
application segment accounts of the largest share in the global biopesticides
market in 2018. The non-crop-based segmented projected for the highest CAGR in
the market. North America to dominate the biopesticides market throughout the
forecast period North America accounted for more than 40% global market share
of the biopesticides in 2018 and is expected to dominate the market throughout
the forecast period. The demand in the region is primarily driven owing to
product development, increased interest in green agricultural practices, and
the loss of many conventional products to reregistration and/or performance
issues.
Asia-Pacific is
expected to hold the highest CAGR in the global market during the forecast
period owing to the expansion in the agriculture industry and emerging
economies in the region are likely to enhance the consumption of
biopesticides.Company Profiles and Competitive Intelligence:The major players
operating in the global biopesticides market 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), and FMC Corporation (US)
among others.
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