LOS ANGELES, May 29, 2019 (GLOBE NEWSWIRE) -- According to Acumen Research And Consulting, recent research study of “Biopesticides Market Size, Share, Trends, Growth Opportunity and Forecast, 2019 - 2026”.
The demand for bio-based products worldwide is driven on the market. In North America, the global biopesticides market held a significant share in 2018. In Asia Pacific, however, a rapid CAGR expansion of 14.4 percent is estimated during the projected period, due to a growth in demand for effective agrochemicals in the region. Based on its source, 2018 saw a key share of the global biopesticides market in the microbial pesticides segment. Bioherbicides are a major part of the global market for biopesticides.
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Market Insights
Based on the source, in 2018, the segment of microbial pesticides accounted for a significant share of the value and volume biopesticides market. This can be attributed to the low prices and low toxicity of microbial biopesticides. These biopesticides have better pathogen and pest control properties for targeted organisms. Due to their excellent weed control properties, the segment of bioherbicides represented a key market share. The increase in the use of bioherbicides in integral weed control processes drives bioherbicides growth.
In most developing countries, conventional techniques dominate the agricultural sector. The harmful effects of chemicals like soil infertility and environmental pollution are also unknown to farmers. Furthermore, in agriculture and agricultural industries, mainly in the developing economies, the rate of adoption of advanced products is slow. The availability of biopesticides in local markets was also adversely affected by the lack of an efficient distribution network. In the near future, these factors are expected to hinder the market for biopesticides.
The naturally occurring soil bacterium is Bacillus thuringiensis (Bt). When sprayed on plants, it is toxic to certain pests. In products such as fungicides, insecticides, nematicides, herbicides and plant-incorporated protective agents, several BT sub-species are used. Comprehensive research is underway on BT in order to increase its toxicity to a wider range of species. In addition it is expected to create opportunities in Asia Pacific and Latin America to easily implement Bt-based biopesticides into IPM systems to improve crop yields.
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Regional Stance
North America was the main region on the global market for biopesticides, with a volume and value share of more than 30% in 2018. Awareness and increased demand for biodiversity of the harmful effects of chemical agro products are key drivers of the biopesticides market in the region. However, during the forecast period, the biopesticides market in Asia Pacific is projected to increase considerably. The demand for efficient agricultural chemicals in the region has been boosted by increased demand for food yield due to the ever-growing population. Thus economic efficiency and high performance in pest & pathogen control are anticipated in the forecast period to increase demand for biopesticides. While chemical or synthetic pesticide prevalence continues in crop protection, concern for human, animal and environmental health plays an important role in driving bio-pesticidal growth. Several countries take a strict approach to import quantities with a focus on regulating pesticide quantities. In Asia-Pacific, emerging economies are likely to lead the way in biopesticides adoption.
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Key Players & Strategies
With the presence of regional and local players, the world biopesticides market is fragmented. The market has been acquired by major chemical companies by key manufacturers. For example, Monsanto Company was purchased by Bayer AG in 2016. Certis USA L.L.C., Bayer AG, Syngenta International AG, FMC Corps, Novozymes A / S (Novozymes A / S), Gujarat State Fertilizers and Chemicals Lts (Gujarat State Fertilizers and Chemicals Ltd) and BioSafe Systems Llc are key players in its business activities. LLC is the company's main player. In terms of attribute such as company overview, financial overview, business strategy, product mapping and latest developments, market player has been highlighted.
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