2021-2030 Analysis and Review Biopesticides Market
Biopesticides Market By Type, By Application, By Form, By Function, By Crop Timeline, By Ingredients, By Biorational Biopesticides, By End-Use - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030
The global biopesticides market is expected to grow at a CAGR of 21.1% during the forecasted period of 2022-2030. Increasing awareness about environmental safety and rising demand for chemical-free and eco-friendly farming products are the two most important reasons for the rising adoption of biopesticides worldwide along with the low toxicity of biopesticides. Although, low adoption of biopesticides, by the farmers, is a major challenge that the industry faces. The market is dominated by bio insecticides which are expected to grow at a CAGR of 21.5% during the forecast period. Bio fungicides are expected to be the fastest-growing market with a CAGR of 22.3% during the forecasted period.
Advantages of Biopesticides over Chemical Pesticides Key Reason for Boosting Market
Biopesticides are eco-friendly alternatives to chemical pesticides. the biopesticides available in the market comprise of a broad array of bio-microbial pesticides, chemicals derived from natural sources and micro-organisms. Also, there are several processes that involve genetic incorporation of DNA into agricultural products to protect them against pest damage. the potential benefits to public health programs and agriculture through the application of bio-pesticides are considerable. However, adoption of bio-pesticides by farmers across the world is still comparatively less than the chemical pesticides and it is important that the benefits of bio-pesticides should be explained to all the stakeholders in the agriculture sector so as to maximize gains. Biopesticides are more target-pest specific as compared to other types of pesticides and hence considered to be relatively safe for non-target organisms that comprise beneficial flora, wildlife, and human beings.
Liquid-Based Formulations to Lead the Market
Biopesticides market is growing rapidly in the crop protection sector registering an increase of twice the overall crop protection market. Developing trends towards organic farming and focus on residue free agri-products is expected to boost the use of biopesticides by the farmers. Biopesticides are focused on specific pests and are comparatively safe for non-targeted organisms including humans. The liquid-based formulation has a major share and is expected to grow at a CAGR of 21.7%. This is due to the ease in handling of liquid formulations as compared to other types of bio pesticides.
NA to Lead the Market, APAC to Grow the Fastest
Asia pacific is expected to be the fastest growing region globally and is expected grow at a CAGR of 22.6% during 2022-2030. This is due to large population and rising demand for food products grown by eco-friendly methods of agriculture. China has the largest market share in the APAC region owing to increasing investments in R&D in this sector and rising applications of biopesticides. Indian biopesticides industry is still a nascent one and needs more awareness campaigns to motivate larger sections of farmers to use biopesticides. Bio-insecticides account for the largest share among all types of biopesticides available in the market. Another major reason for the high growth of the biopesticides market in APAC region is the high demand in the Japan and Korea. Japan has always been a pioneer in the biopesticides market. Another major country in the APAC region is Korea. the country has stringent regulations against the usage of chemical pesticides and has a law committed to reduce the applications of chemical pesticides. Biopesticides has a large share of almost 10% of the total pesticides market in the country. However, global bio pesticides market is dominated by North America, the region accounts for approximately 38.3% of the total global market. It is expected to grow at a CAGR of 20.2% during the forecast period,
Market Transition is Led by Bio Pesticide Market
Bio pesticide companies target the major markets that use conventional chemical pesticides, including certain agricultural and water markets, where bio-based products are used as alternatives for, or mixed with, conventional chemical products. They also target new markets for which there are no available conventional chemical pesticides, the use of conventional chemical products may not be desirable or permissible because of health and environmental concerns (including for organically certified crops) or because the development of pest resistance has reduced the efficacy of conventional chemical pesticides. Bio pesticide companies are also seeking new applications and end users for their products. Through strategic collaborations organizations are seeking to commercialize existing crop protection products, or variations thereof, for new markets. Acquisitions of smaller companies by larger giants have been a strategy to bring new technologies under their wings. Large agrichemical companies have become involved in biopesticides through in-licensing of technology and products, joint ventures and acquisitions. Top companies in this market include Bayer, BASF, Bioworks, Dupont and others.
Historical & Forecast Period
This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2030.
Report Methodology
Market revenues andCAGR were derived from primary andsecondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies andprimary research. The scope of the market is limited to the following segments of product categories and region.
Global Bioinsecticides Market, by Type, 2020-2030, ($Millions)
Global Bioinsecticides Market, by Application, 2020-2030, ($Millions)
Global Biopesticides Market, by Form, 2020-2030, ($Millions)
Global Biopesticides Market, by Function, 2020-2030, ($Millions)
Global Biopesticides Market, by Crop Timeline, 2020-2030, ($Millions)
Global Biopesticides Market, by Ingredients, 2020-2030, ($Millions)
Global Biorational Biopesticides Market, 2020-2030, ($Millions)
Global Biopesticides Market, by End-Use, 2020-2030, ($Millions)
By Region (2020-2030; US$ Mn)
Global Impact of Covid-19 Segment (2020-2021; US$ Mn)
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