Global biopesticides market was valued at USD 1.96 billion in 2015 and is expected to reach USD 4.17 billion by 2023, growing at a CAGR of 9.9% over the forecast period.
Albany, NY -- (SBWIRE) -- 03/03/2016 -- Biopesticides are derived from natural sources which include animals, bacteria, plants, and certain minerals. Bt (Bacillus thruingiensis) containing products are the most common type of biopesticides but the plant-incorporated protectants (PIP) that come from adding genetic material to plants also fall in this category. The global biopesticides market has shown significant growth in the past few years. This trend is anticipated to continue during the forecast period due to increasing consumer awareness about the consumption of organic food and growing usage of biopesticides in order to minimize the environment pollution worldwide. Biopesticides are the key components of integrated pest management (IPM) programs and are receiving much attention as a means of reducing the load of synthetic chemical products that are used to control plant diseases. The objective of improving the commercial feasibility of production and usage of biopesticides is propelling market growth. Moreover, extensive and organized research has resulted in improved formulation techniques, enhanced application methods, and increased ability to produce biopesticides through mass production, and better storage and shelf life capabilities.
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In this report, the global biopesticides market is categorized into five segments: (i) by product type; (ii) by active ingredients type, (iii) by crop type, (iv) by application and (v) by geography. Based on product type, the market has been categorized into bioinsecticides, biofungicides, bionematicides, and bioherbicides. Biopesticides are widely used for controlling various insects and disease-causing pathogens. Based on active ingredients, the biopesticides market is segregated into microbial pesticides, plant pesticides and biochemical pesticides. Furthermore, the market is segmented into permanent crops and arable crops. Others include forage & turf grasses and greenhouse crops by crop type. Based on application type, the biopesticides market is bifurcated into seed treatment application, on farm application and post harvest.
Bioinsecticides, biofungicides and bionematicides are rapidly growing market segments that are expected to fuel demand for biopesticides in the coming years. The usage of biopesticides can greatly decrease the usage of conventional pesticides without affecting crop yields in the Integrated Crop Management (ICM) and Integrated Pest Management (IPM) programs. Globally, the demand for nature-based biopesticides is on the rise due to increased environmental awareness and health hazards from many conventional pesticides.
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Based on geography, the global biopesticides market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2014, North America held the largest share in the biopesticides market followed by Asia Pacific, Europe, and Rest of the World (RoW). North America is expected to maintain its leading position during the forecast period.
Globally, the pesticide industry is highly regulated by environmental regulations. Pesticide regulation has shifted from the U.S. Department of Agriculture and Department of Food and Drugs Administration to the Environmental Protection Agency (EPA). EPA, in turn, has been encouraging the development and use of biopesticides in the U.S. Increasing demand for chemical-free crops and more organic farming is anticipated to propel the usage of biopesticides in North America. In addition, biopesticides are quickly biodegradable, are less toxic, and are more targeted to the specific pest that helps to control pest population to a manageable level. Increasing focus on research and development and production of environment friendly and safe pesticides is expected to boost the growth of the market.
The report also covers the drivers, restraints, and opportunities (DROs) of the biopesticides market. The study highlights the current market trends and provides forecast for the period from 2015 to 2023. The current market scenario for global biopesticides and highlighted future trends that is likely to affect its demand is also covered under the scope of the study.
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By geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Under the scope of the report, each region is further segregated into major countries to highlight the respective market share of biopesticides in each country. The study covers major countries such as the U.S., and others in North America; Japan, China, and India in Asia Pacific; Spain, Italy, and France in Europe; and Latin America, Africa, and the Middle East in RoW. The size and forecast for these markets for the period from 2015 to 2023 has been provided in the report.
Under the scope of this report, different influencing and hindering factors of the biopesticides market have been analyzed. The market attractiveness analysis provided in the report highlights the key investing areas in this industry. The report also provides the company market share analysis of key players operating in the biopesticides domain. Some of the key players in this market include Syngenta Crop Protection, LLC, AgBiTech Pty Ltd, Becker Underwood Inc., BASF SE, Arysta LifeSciences, Valent Biosciences Corp, Bayer CropScience AG, Dow AgroSciences and Novozymes A/S among others.
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