The biopesticides market was valued at USD 2.83 Billion in 2016 and is projected to reach USD 6.60 Billion by 2022, at a CAGR of 15.43% during the forecast period.
Northbrook, IL -- (SBWIRE) -- 02/06/2018 -- The report "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bioherbicides, Bionematicides), Source (Microbes, Biochemicals, Beneficial Insects), Mode of Application, Formulation, Crop Type, and Region - Global Forecast to 2022", The biopesticides market is projected to reach USD 6.60 Billion by 2022, from USD 3.22 Billion in 2017, at a CAGR of 15.43% during the forecast period. The market is driven by factors such as pest resistance and integrated pest management (IPM) measures, growth in demand for organic food, promotion by government agencies, heavy crop loss due to pest attacks, lower cost of raw materials, and faster regulatory approval.
Browse 78 market data Tables and 40 Figures spread through 165 Pages and in-depth TOC on "Biopesticides Market - Global Forecast to 2022"
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Foliar spray is estimated to be the most widely used application method for biopesticides.
Foliar spray is estimated to account for the largest share through the forecast period as this method is easy to use, helps in covering the entire surface area of the leaf, and is available at a low cost. It also aids in avoiding the problems of leaching in soils and prompts a rapid response in crop plants at farms.
Bionematicides is projected to be the fastest-growing segment during the forecast period.
The bionematicides segment is projected to register the highest growth rate from 2017 to 2022 Owing to its wide usage in seed treatment and the increasing focus of crop protection companies on new product developments of bionematicides.
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North America is projected to dominate the market, while Europe is projected to be the fastest-growing market for biopesticides through 2022.
North America is expected to dominate the biopesticides market owing to its highly streamlined product registration process, which makes it easier for most private companies to launch their products easily. The reduced data requirements and the development of modified test technologies in the US have resulted in significantly lower registration costs and timeline. Additionally, growing awareness among consumers against synthetic chemicals has also led to the higher adoption of these products in North America.
The market for biopesticides in the European region is projected to grow at the highest CAGR from 2017 to 2022. Biopesticides are expected to be a potential substitute for synthetic pesticides in Europe due to the stringent regulations on chemical usage and maximum residue limit. The impending ban on neonicotinoids is expected to drive the growth of the European biopesticides market.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as BASF (Germany), Bayer (Germany), Monsanto BioAg (US), BioWorks (US), Certis (US), Marrone Bio Innovations (US), Koppert (Netherlands), Arysta LifeScience (US), Valent BioSciences (US), Stockton Group (Israel), Isagro (Italy), and Camson Bio Technologies (India).
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