New York, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners latest market study on “Biopesticides Market Size, Share & Growth Forecasts to 2028 - COVID-19 Impact and Global Analysis by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides) and Geography”, Biopesticides Market expected to grow from US$ 4.6 Bn in 2022 to US$ 14.0 Bn by 2028; it is estimated to grow at a CAGR of 11.5% from 2022 to 2028.
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Global Biopesticides Market Valuations, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 4.6 Billion in 2022 |
| Market Size Value by | US$ 14.0 Billion by 2028 |
| Growth rate | CAGR of 11.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Product, Mode of Application, and Crop Type |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Segment | By Type, Application, and Region |
| Purchase Options | Request customized purchase options to meet your research needs. |
Biopesticides Market: Competition Landscape and Key Developments –
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.
- 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
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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.
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.
The demand for organic fruits, vegetables, and other organic food products is growing rapidly due to an increase in the number of health-conscious people, surge in the preference for healthier food products, and a rise in awareness about the health risks posed by the use of chemical pesticides. This is encouraging farmers worldwide to produce crops using organic methods. Therefore, they are shifting from harmful chemical-dependent conventional agriculture to sustainable and greener farm practices. Biopesticides are used in the organic farms as they have no side effects on beneficial plants and human health. Microbial biopesticides are proved to be efficient in achieving control against many insects, pathogens, and weeds. Therefore, the growing demand for organic food drives the biopesticides market growth.
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Sustainable weed management consists of different weed management methods, including the use of biopesticide that precludes the use of chemical pesticides. The use of biopesticide is an important compoent in integrated weed management strategies to increase crop yield in organic agriculture, which is propelling the biopesticides market growth. However, many weeds showcase pesticide resistance, a major concern among farmers. Hence, market players are increasingly focusing on developing cost-effective and efficient biopesticides that can control weeds. In 2020, Seipasa—the Spanish company specialized in developing and formulating biopesticides, biostimulants, and fertilizers for agriculture—and the Technical University of Valencia (UPV) announced that they are working on the development of a new biopesticide through the Mediterranean Agroforestry Institute (IAM). The rising initiatives by major manufacturers of various countries in development of biopesticides due to higher demand is driving the biopesticides market.
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:
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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.
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