Hyderabad, July 11, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Biopesticides Market Report (2023-2028)," the market is estimated at USD 6.62 billion in 2023. It is expected to register a CAGR of 15.10% during the forecast period.
Biopesticides are derived from natural materials like animals, plants, bacteria, and certain minerals. The study considers both microbial and organic pesticides. They are mostly used for grains and cereals. However, it is expected to be driven fastest by application in oilseed crops. Emerging countries in the Asia-Pacific region are leading the adoption of biopesticides.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 6.62 billion |
| Market Size (2028) | USD 13.37 billion |
| CAGR (2023-2028) | 15.10% |
| Study Period | 2018-2028 |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increased human, animal, and environmental health concerns. |
| Increased demand for food safety. |
Who are the Top Companies in the Global Biopesticides Market?
The global biopesticides market is concentrated and highly dominated by international players. The players compete based on product quality and promotion while also focusing on strategic moves to hold larger market shares. New product launches, partnerships, and acquisitions are major strategies adopted.
The significant players in the global biopesticides market with majority market share in 2023 are,
- Marrone Bio Innovations
- Bioworks Inc.
- Isagri SpA
- Koppert Biological Systems
- Andermatt Biocontrol AG
- Sumitomo Chemical Co. Ltd
- American Vanguard Corporation
- BASF SE
- Bayer CropScience LLC
- Corteva Agriscience
- Certis USA LLC
- FMC Corporation
- Syngenta AG
- Novozymes Biologicals
- Omnia Holdings Limited
Other Reports That Might Be of Your Interest:
- Crop Protection Chemicals Market Report - The global crop protection chemicals market size is expected to grow from USD 66.04 billion in 2023 to USD 80.35 billion by 2028, at a CAGR of 4% during the forecast period (2023-2028).
- Agricultural Enzymes Market Report - The global agricultural enzymes market size is expected to grow from USD 316.52 million in 2023 to USD 433.66 million by 2028, at a CAGR of 6.50% during the forecast period (2023-2028).
Key Highlights from the Global Biopesticides Market Report:
New Farming Technologies and Sustainable Agriculture
- In the past two decades, sustainable agriculture techniques have gained momentum to address social and environmental concerns. These techniques also save costs, increase productivity, and reduces the use of chemical pesticides, which are harmful to the environment.
- The adoption of new farm technologies enabled safer application of biopesticides. Consumer demand for organic food is growing, forcing growers to shift toward organic cultivation using biopesticides.
High Demand for Biopesticides in North America
- In the United States alone, about 60 companies are selling biopesticides. More than 420 biopesticide products are officially registered. Most of them have active ingredients that can compete with chemical pesticides.
- Canada is witnessing strong research and development and registration of new biopesticides. Currently, there are more than 200 registered biopesticide products in the country.
- Biofungicide and bioinsecticides are the segments with the most market share in the region.
What are the Latest Developments in the Global Biopesticides Market?
- In June 2022, FMC Corporation announced its new business brand focused on plant health, "Biologicals by FMC." The brand focuses on expanding the company's biopesticides globally.
- In January 2022, Syngenta Crop Protection AG acquired two next generation bioinsecticides, NemaTrident and UniSpore, from Bionema Limited, a biocontrol technology developer.
Mordor Intelligence has Segmented the Global Biopesticides Market Based on Product Type, Formulation, Ingredient, Mode of Application, Application, and Geography.
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Bioherbicide
- Bioinsecticide
- Biofungicide
- Other Products
- By Formulation (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Liquid Formulation
- Dry Formulation
- By Ingredient (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Microbial Pesticide
- Plant Pesticide
- Biochemical Pesticide
- Other Ingredients
- By Mode of Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Foliar Spray
- Seed Treatment
- Soil Treatment
- Post-harvest
- Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Crop-based
- Non-crop-based
- Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Africa
- South Africa
- Rest of Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Biopesticides Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- United States Biopesticides Market Report - The US biopesticides market size is estimated at USD 2.42 billion in 2023. It is expected to reach USD 4.95 billion by 2028, at a CAGR of 15.40% during the forecast period (2023-2028).
- India Biopesticides Market Report - The Indian biopesticides market is projected to register a CAGR of 9.70% over the next five years.
- Agricultural Inoculants Market Report - The global agricultural inoculants market size is estimated at USD 8.93 billion in 2023. It is expected to reach USD 16.02 billion by 2028, at a CAGR of 12.40% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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