Albany NY, United States, June 01, 2022 (GLOBE NEWSWIRE) -- Adoption of sustainable farming and agricultural practices for impacting productivity and yield notably in food crops is increasingly enriching the biopesticides market outlook. Growing awareness about the advantages over synthetic pesticides such as high specificity, eco-friendliness, and multiple modes of action against targeted pests has spurred attention toward this class of pesticides in agricultural as well as non-agricultural applications. The biopesticides market valuation is forecast to exceed US$ 34.5 Bn in 2031.
Microbial biopesticides are gathering traction in the overall pesticide industry. They have become cost-effective agrochemicals made from bacteria, viruses, fungi, and protozoans, and are attractive enormous attention among farmers for improving the productivity in bt products and non bt products, found the biopesticides market revenue analysis.
Ongoing trends of biopesticides market are witnessing agrochemical companies exploring promising avenues by addressing a few pest resistance issues found in the use of synthetic pesticides. Broadly, their non-toxicity to the target pest, the environment, and humans along with their diverse mechanisms of action has spurred the popularity, as global market study on biopesticides observed.
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Key Findings of Biopesticides Market Study
- Trend of Adoption of Integrated Pest Management (IPM) in Sustainable Agriculture in Various Countries: Stakeholders in the biopesticides market view products as compatible with current and emerging integrated pest management (IPM) practices in agricultural sector globally. Focus of regulatory agencies and the governments in promoting sustainable agriculture practices has fueled the pace of commercialization of products. Increased profitability to farmers who are pursuing organic farming methods for cultivation of cereals has led to an uptick in demand for biopesticides.
- New Formulations in Bioherbicides Help Market Players Capture Revenues from Agriculture and Non-Agriculture Applications: Better safety profiles over synthetic pesticides are spurring sales, especially of bioherbicides, in the biopesticides market. The use of bioherbicides has grown in range of applications such as in turf maintenance, railway track clearing, and home gardening. Additionally, they are used for boosting the productivity and yield of fruits and vegetables. Biopesticides are extensively used for the farming of cereals and grains. The segment held 40.6% share of the global biopesticides market in 2021. Among the various categories, the sales of bioherbicides are propelling substantial revenue generation for various market players. It held a major share of the global market in 2021. The TMR study on the biopesticides found that the herbicides segment is projected to expand at CAGR of 14.5% during the forecast period of 2022–2031.
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Biopesticides Market: Key Drivers
- Strides made in sustainable agriculture practices worldwide have been propelled by green chemistry principles. The scope of the biopesticides market has grown considerably, riding on the back of their significant environmental as well as economic gains to farmers.
- Growing attention toward organic farming practices has enriched the prospects of the biopesticides market
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Biopesticides Market: Regional Growth Dynamics
- Europe and Asia Pacific jointly held a share of 46.2% in the biopesticides market in 2021. The regional markets have witnessed enormous consumption of products in agriculture application. Agrochemical companies are keenly expanding their product portfolio to capture revenues from value-grab opportunities in Asia Pacific.
- Of note, the need for novel pest management strategy has steered product advancements in the Europe biopesticides market, especially when erratic climate changes have adversely affecting crop cultivation patterns.
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Biopesticides Market: Key Players
Some of the key players in the market are BioSafe Systems, LLC, Summit Chemical, Inc., T. Stanes & Company Limited, Biotech International Limited, Symborg S.L., Agri Life, FMC Corporation, Novozymes A/S, Bayer AG, Nufarm Ltd, Syngenta International AG, and Certis USA LLC.
Market Segmentation
- Source
- Microbial Pesticides
- Bt Products
- Non Bt Products
- Biochemical Pesticides
- Plant-incorporated Protectants
- Microbial Pesticides
- Product
- Bioinsecticides
- Biofungicides
- Bioherbicides
- Bionematicides
- Others (including Plant Growth Regulators)
- Application
- Cereals and Grains
- Oilseeds and Pules
- Fruits and Vegetables
- Others (including Nursery and Turf)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research’s award-winning coverage of the global Chemicals & Materials:
Crop Protection Chemicals Market: Crop Protection Chemicals market is likely to register a CAGR of 5.7% during the forecast period and is anticipated to reach a crop protection chemicals market share of US$ 106.7 Bn By 2031
Insecticides Market: Insecticides market is likely to register a CAGR of 5.3% during the forecast period and is anticipated to reach an insecticides market share of US$23 mn by 2025
Herbicides Market: Herbicides market is likely to register a CAGR of 6.1% during the forecast period and is anticipated to reach an herbicides market share of US$29.30 Bn by 2025
Pesticides Market: The pesticide market is driven by the demand for bio-pesticides and adoption of herbicide-resistant crop by farmers
Agrochemicals Market: Changing agrochemicals usage patterns followed by increased global population & consumer health awareness are the key driving factors of agrochemicals market
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