Biopesticides Market to Exceed US$ 34.5 Bn, Globally, by 2031 | Registering at a CAGR of 14.2% Says, Transparency Market Research

Wilmington, Delaware, United States, June 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The strong global biopesticides market was valued over US$ 10.4 Bn in 2021. It is estimated to grow at a CAGR of 14.2% from 2022 to 2031. The global biopesticides market is expected to exceed value of US$ 34.5 Bn by the end of 2031.

Increase in shift from chemical pesticides to biopesticides due to the ill-effects of the former on human health, animals, and environment is fueling the biopesticides market. Additionally, non-toxicity of biopesticides, combined with their natural tendency for improving soil fertility, is anticipated to boost market size in the near future.

Biopesticides possess various distinctive properties that make them integral components of integrated pest management (IPM). Adoption of biopesticides in IPM can significantly reduce the usage of chemical pesticides.

Download Sample PDF Copy of Biopesticides Market Study @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=116

Market Snapshot:

Increase in interest among farmers and agriculturists in eco-friendly agricultural practices is creating awareness about biopesticides. Availability of agricultural research and development courses at several universities and research organizations is thus serving to increase adoption of biopesticides, thereby fueling market demand.

Competitive Analysis

The biopesticides market is consolidated, with a handful of large-scale vendors controlling majority of the share. Large numbers of companies are investing significantly in R&D in order to introduce environment-friendly products. Key players are engaging in expansion of product line and M&As to consolidate their position.

Prominent players in the biopesticides market include Certis USA LLC, Syngenta International AG, Nufarm Ltd, Bayer AG, Novozymes A/S, Gujarat State Fertilizers and Chemicals Ltd., FMC Corporation, Agri Life, Symborg S.L., Biotech International Limited, T. Stanes & Company Limited, Summit Chemical, BioSafe Systems.

Key Findings of Study

Profitability of Organic Farming and Ill-effects of Chemical Pesticides Fueling Market Expansion – Based on revenue, the cereals and grains segment constituted 40.6% market share in 2021. The segment is anticipated to expand at a rapid pace in the next few years. Cereals are consumed as staples across the world. High profitability of cultivation of organic cereals is expected to boost the demand for biopesticides among cereal growers.

On the other hand, harmful effects of chemical-based pesticides on the environment is limiting their use. This is leading to an increase in usage of biopesticides for cereals and grains. Additionally, quality of produce using biopesticides is better than chemical-based pesticides. This is fueling the growth of the cereals and grains segment.

Suitability to Maintain Balance in Environment and Soaring Food Needs Boosting Adoption – Biopesticides are composed of natural substances that are less toxic and are environment-friendly. They offer excellent performance to prevent a wide range of pests and pathogens. Furthermore, biopesticides can be easily adopted in IPM. This is strengthening the demand for biopesticides, thus fueling market development.

Growth in the global population is necessitating an increase in agricultural output. This is compelling producers to use chemical pesticides, which can have ill-effects on human health, animals, and environment in the long run. Modern agrochemicals such as biopesticides are suitable to maintain the balance between the environment and soaring demand for agricultural produce.

Considerable research in biopesticides has led to the development of novel agro products for human welfare. For instance, a new type of plant extract-based solutions helps fight diseases in humans. Additionally, it improves the efficacy of biopesticides for IPM programs for a diverse range of crops across the world

Rise in Preference for Cost-effective Microbial Pesticides Fueling Growth – Based on source, biopesticides are divided into biochemical pesticides, microbial pesticides, and plant-incorporated protectants. The microbial pesticides segment accounted for the leading market share of 55.4%in 2021. The segment is expected to expand at the leading CAGR during the forecast period.

Microbial pesticides offer a range of advantages over other biopesticides. They are less expensive and perform well. Bacteria, fungi, viruses, and protozoans are active substances in microbial pesticides. Microbial pesticides typically target a specific pest on the crop. This saves other beneficial insects from being damaged by chemical pesticides. The microbial pesticides segment is anticipated to register promising growth during the forecast period.

Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=116

Growth Drivers

• Increase in shift from chemical-based pesticides to biopesticides is fueling the biopesticides market
• Research initiatives of agricultural research organizations and agro product companies for improved products is propelling market

Regional Landscape

• North America is anticipated to account for the leading share of the global biopesticides market during the forecast period. The market in North America is driven by rise in awareness about the harmful effects of chemical-based agricultural products and increase in demand for organic food.
• Europe and Asia Pacific hold significant share of the global biopesticides market. Rise in demand for high-quality crops to keep up with export quality, emergence of pests and diseases as a result of climate change, and regulatory bans on key active ingredients are leading to an increase in usage of biopesticides in Europe.

The biopesticides market is segmented as follows:

Global Biopesticides Market, by Source

• Microbial Pesticides
• Bt Products
• Non Bt Products
• Biochemical Pesticides

Global Biopesticides Market, by Product

• Bioinsecticides
• Biofungicides
• Bioherbicides
• Bionematicides
• Others
  

Global Biopesticides Market, by Application

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others

Global Biopesticides Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  

Purchase this Premium Research Report | Immediate Delivery Available at – https://www.transparencymarketresearch.com/checkout.php?rep_id=116&ltype=S

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com