Biopesticides Market

Biopesticides Market Overview

Biopesticides market size is forecast to reach US$8.6 billion by 2027 after growing at a CAGR of 14.2% during 2022-2027.

Bioinsecticide demand is expected to grow in the forecast period due to the increasing awareness about the harmful aspects of chemical insecticides on the environment. Bacillus thuringiensis is the most commonly used bioinsecticide globally. Microbial biopesticide is poised to contribute to the market’s growth as it is one of the cost-effective forms of biopesticide, composed of naturally occurring viruses, bacteria, fungi, etc. Hydrogen peroxide is one of the vital ingredients used in biopesticides which is gaining traction to control microbial pests on crops. The demand for organic foods, especially organic fruits and vegetables is on the rise owing to increasing awareness about the long-term benefits of these products, which, in turn, is projected to drive the growth of the market in the coming years. In addition to this, numerous inexpensive bio-based crop protection is anticipated to boost their uses in the production of different high value crops. The foliar spray application is projected to witness robust demand in the forecast period due to its easy to apply method. It's simple application enables it to be used as a preventive treatment of plant deficiencies and diseases. Biological crop protection in agriculture is gaining traction through various application methods like seed treatment, foliar spray, etc., to meet the increasing demand for sustainable crop cultivation. The growing population globally is increasing the demand for a large amount of crop cultivation. Chemical pesticides are still used by crop manufacturers but due to their harmful effects, manufacturers are looking for suitable alternatives. This is where the demand for biopesticides is amplifying in the target market. However, the slower impact of biopesticides might hamper the market’s growth in the forecast period.

COVID-19 Impact

The biopesticides market globally was deeply affected by the COVID-19 pandemic with multiple disturbances such as supply chain break, border closures, labor shortage, procurement of raw materials, etc. Disruption in the supply chain affected the availability and supply of biopesticides which is one of the key agricultural inputs. According to a September 2020 report about the impacts of COVID-19 on global crop protection by the National Center for Biotechnology Information, the production and application of biopesticide input were widely affected due to the pandemic and reduced agricultural output. The report also suggests, crop losses because of pests might reach up to 80% in the coming years owing to the lack of implementation of biopesticides applications. Going forward, the biopesticides market is expected to be back on track due to the growing demand for organic and sustainable crop production.

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Report Coverage?

The report:?“Biopesticides Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Biopesticides Market Industry.?

By Product Type:?Bioinsecticides, Bacillus Thuringiensis, Beauveria Bassiana, Metarhizium Anisopliae, Verticillium Lecanii, Baculovirus, Bioherbicides, Biofungicides, Trichoderma Viride, Bacillus Species, Psuedomonos Fluoresceins, Streptomyces Species, Bionematicides, Paecilomyces Lilacinus, Bacillus Firmus, Others.

By Crops:?Cereals, Wheat, Barley, Corn, Fruits and Vegetables, Apples, Pears, Lemons, Apricots, Oranges, Grapefruit, Stone Fruit, Potatoes, Tomatoes, Cucurbit Vegetables, Leafy Vegetables, Soybeans, Cotton, Nuts, Peanuts, Walnuts, Herbs and Spices, Almonds, Sugarcane, Others.

By Ingredients:? Microbial Pesticides, Plant-Incorporated Protectants, Biochemical Pesticides, Others.?

By Formulation:?Liquid Formulation, Dry Formulation, Others.

By Application Method: Seed Treatment, Soil Treatment, Foliar Spray, Post-Harvest, Others.?

By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific),?South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

• Bioinsecticide is leading the biopesticides market globally owing to its robust qualities. Bioinsecticide is harmless and safe to use as compared to chemical biopesticide due to which it is a desirable choice in the biopesticides market.
• The fruit and vegetable growing demand is poised to drive the biopesticides market in the forecast period owing to the increasing production of fruits and vegetables globally. As per the data by the Agricultural and Processed Food Products Export Development Authority (APEDA), during 2019-20, India, which is one of the world’s largest producers of fruits and vegetables produced 99.07 million metric tons of fruits and 191.77 million metric tons of vegetables.?
• The North American region is anticipated to drive the biopesticides market in the forecast period owing to the environmentally friendly nature of biopesticides as compared to the traditional chemical pesticides. The Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) and Federal Food, Drug and Cosmetic Act (FFDCA) in the US implement strict regulations to reduce the hazardous effects of chemical pesticides.

Market Dynamics:

Stringent regulations on conventional chemical pesticides and growing organic food industry are major drivers expected to contribute to growth of the global biopesticides market during the forecast period. Farmers are shifting towards biopesticides to follow stringent regulations framed by regulatory bodies on the use of chemical pesticides. The growth of organic food industry worldwide is also contributing to increasing demand for biopesticides. Further, the preference for organic food among health conscious consumers is adding to market growth. Additionally, increasing awareness about hazards of chemical pesticides and benefits of biopesticides are fueling the market growth.

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With the rising awareness regarding the harmful impacts of chemical pesticides on the environment as well as human health, consumers are increasingly preferring eco-friendly alternatives. Pesticides derived from natural sources such as plant extracts, bacteria, fungi, and certain minerals have negligible toxicity to humans, pets and wildlife as compared to conventional synthetic pesticides. They decompose quickly and do not leave harmful residues. The fact that biopesticides pose significantly lower risks makes them an attractive proposition for farmers as well as for commercial and household users interested in greener options. Growing consumer preference for organic produce also boosts the market potential for biopesticides. Several government regulations worldwide have imposed restrictions on highly toxic chemical pesticides whereas biopesticides are exempted, which encourages farmers to switch to safer and eco-friendly alternatives. Overall growing environmental concerns and stringent regulations will continue driving the demand for biopesticides in the coming years.

Significant Opportunity: Expanding Applications in Non-Agricultural Sectors

While agricultural applications form the mainstream market presently, ongoing research and development is expanding the scope of biopesticide usage to several non-farm sectors as well. Growing demand for eco-friendly pest control methods from public health, residential, commercial, industrial and infrastructure development sectors present lucrative opportunities. Low risks of biopesticides make them suitable for application in sensitive areas like schools, hospitals, food stores, hotels and indoor spaces where conventional chemicals cannot be used. They are gaining acceptance for controlling mosquitoes, termites, cockroaches, stored grain pests and seasonal insects attracted to outdoor lighting. Advances are being made in developing biopesticides effective against certain wood-destroying organisms and microbes deteriorating infrastructure. With increasing awareness about hazards of chemical alternatives, demand from non-agricultural commercial and government entities offers significant potential for future market gains. Continuous product innovations expanding the range of target pests beyond agricultural crops will unlock new opportunities.

Top Companies Featured in This Report:

★ Valent BioSciences Corporation

★ Certis (US)

★ Marrone Bio Innovations

★ Bioworks

★ FMC Corporation

★ Stockton Group

★ UPL

★ Bayer CropScience

★ BASF

★ Syngenta

★ Isagro

★ Koppert.

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