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| ✷ Report Code: A00435 | Mar 2022 | Pages: 290 | ||
| Tables: 97 | Charts: 56 |
| |
The global biopesticides market was valued at $7,012.70 million in 2020, and is projected to reach $33,638.90 million by 2031, growing at a CAGR of 13.9% from 2022 to 2031.
COVID-19 pandemic disrupted the food & beverage industry all across the globe. COVID-19 resulted in labor mobility restrictions, closure of production facilities, and decline in demand for products, which hindered the market growth. In addition, this sector faced acute labor shortages as a result of recurrent lockdowns that disrupted manufacturing and trade operations. A drop in revenue in the first few months of 2020 along with decrease in farmer demand for biopesticides has put pressure on the profitability of biopesticide producers and suppliers. The vaccination drive and lockdown practices to limit the spread of the virus globally are anticipated to aid in the biopesticides market growth. This is regaining its position in the agriculture and agri products sector.
Biopesticides are essential microbial toxins that can be defined as a biological poison derived from a microorganism, such as a bacterium or a fungus. Pathogenesis by microbial entomopathogens occurs by the invasion of the pathogen through the gut of the insect followed by its multiplication, resulting in the death of the insect.
The biopesticides market is segmented on the basis of product type, formulation, crop type, and region. Depending on product type, it is classified into microbial, predators, and others. According to formulation, it is divided intodry form and liquid form. As per the corn type, the market is classified into orchards, grazing & dry land, and field crops. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia Federation, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).
According to biopesticides market analysis, on the basis of product type, the microbial segment dominated the global biopesticides industry in 2021 and is expected to be dominant during the forecast period. The microbial segment is expected to grow with a CAGR of 13.8%. Microbial biopesticides have gained popularity that has increased substantially in recent years, as extensive usage of the types of microbial biopesticides has enhanced the crop quality and helped to save from foreign attack of bacteria, fungus, and other contaminants. The extensive usage is expected to fuel the growth of the global biopesticides market size.
According to formulation, the dry form segment dominates the global market in 2021. Dry form of biopesticides is the most common form available in the market. The dry form is useful to users since it lasts for several uses. Dry biopesticides can be applied directly to crops or blended in a solution and applied using a spray. The dual application of dry biopesticides has grown in favor among users.
According to biopesticides market trends, as per crop type, the orchard segment was the segment in which the biopesticides are used abundantly for protecting the crops from foreign contaminants. Orchards are the crops that are most vulnerable to spoilage by pest and insects. As a result, the use of biopesticides on orchards is more than the use of biopesticides on other types of crops. The emerging economies such as India and China have witnessed significant adoption of orchard farming, owing to increased use of biopesticides.
Region wise, Asia-Pacific dominated the global market in 2021, and is expected to be dominant during the biopesticides market forecast period. The dominance in the market is largely due to existence of agricultural operations in Asia-Pacific and the availability of several variants of microbial and predator biopesticides for different pest, insects, and contaminants that are preferred by users for safeguarding their crops. Increase in demand for biopesticides in the agricultural sector of Asia-Pacific drives the demand for biopesticides products.
The players operating in the global biopesticides market have adopted various developmental strategies to expand their biopesticides market share, increase profitability, and remain competitive in the market. The key players profiled in this report include AgBioChem, Inc., AgBiTech Pty Ltd., Ajay Bio-Tech Ltd., Amit Biotech Pvt. Ltd., Andermatt Biocontrol AG, Arizona Biological Control, Inc., BASF SE, Bayer AG, Kemin Industries, and Novozymes A/S.
Biopesticides Market Report Highlights
| Aspects | Details |
|---|---|
| By Product Type |
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| By Formulation |
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| By Crop Type |
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| By Region |
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| Key Market Players | Amit Biotech Pvt. Ltd., Bayer AG, AgBiTech Pty Ltd., AgBioChem, Inc., Novozymes A/S, Andermatt Biocontrol AG, kemin industries, Ajay Bio-Tech Ltd., Arizona Biological Control, Inc., BASF SE |
The biopesticides market is expected to grow at the highest rate, owing to increase in adoption, specifically in emerging countries, such as China, India, Japan, and Korea. Moreover, the production cost of biopesticides is relatively low in Asia-Pacific compared to other regions.
Several advantages that boost the growth of the global biopesticides market during the forecast period are reduced environmental damage, targeted action, the necessity for smaller amounts for effective coverage, and quicker decomposition. Furthermore, the popularity of biopesticides increased substantially in recent years, owing to extensive research. In addition, the techniques for  mass production, storage, transport, and application of biopesticides have improved in recent years and are anticipated to provide lucrative opportunities in the future.
However, factors such as lack of profit from niche market products, for example, bioinsecticides based on baculoviruses, including the Cydia pomonella granulosis virus (CpGV), typically are selective for just one or a few species of insect. These are expected to hamper the market growth.
A recent trend that has gained traction in the global biopesticides market is the growth in public concern over the potential health hazards of synthetic pesticides and the steep increase in the cost of cultivation leading to the exploration of eco-friendly pest management tactics that includes Integrated Pest Management (IPM).
A. The global biopesticides market size was valued at $8,737.8 million in 2021, and is estimated to reach $33,638.9 million by 2031, registering a CAGR of 13.9% from 2022 to 2031.
A. The global biopesticides market registered a CAGR of 13.9% from 2022 to 2031.
A. Raise the query and paste the link of the specific report and our sales executive will revert you back with the sample.
A. The forecast period in the biopesticides market report is from 2022 to 2031.
A. The top companies that hold the market share in biopesticides market include Arizona Biological Control, Inc., BASF SE, Bayer AG, Kemin Industries, and Novozymes A/S.
A. The biopesticides market report has 3 segments. The segments are product type, formulation, and crop type.
A. The emerging countries in the biopesticides market is likely to grow at a CAGR of more than 16.5% from 2022 to 2031.
A. Asia-Pacific will dominate the biopesticides market by the end of 2031.
A. Post COVID-19, the ease of lockdown, reopening of state, country, and international borders have solved the problem of labor shortages. On the other hand, consumer demand for crops and grains is growing, which will drive up sales of biopesticides as farming continues to meet demand.
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