MarketsandMarkets™The global biopesticides market is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025.The report "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation, Crop Application, and Region - Global Forecast to 2025" The global biopesticides market size is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025. The market is driven by factors such as the increase in area under organically grown crops, growth in concerns regarding the hazards of using pesticides, rise in demand for organic products, and a surge in regulations on maximum residue levels (MRL) for chemical pesticides is increasing the adoption of biopesticides.
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Opportunity: Pests developing resistance to crop protection chemicals
Site-specific pesticides have been able to provide crop protection over the past few decades. However, plant pathogenic, bacteria & fungi, and insect pests are developing resistance to chemicals and are able to adapt to crop protection chemicals through mutations, which, in turn, has led to reduced efficacy and pest resurgence. One of the major pathogen species that have developed resistance include Botrytis cinereal, which affects the production of fruit and vegetable crops both during pre- and post-harvest times. The excessive spraying activity has led to the development of multi-resistant strains in several countries. The majority of the affected fields were those sown with strawberries. This rapid erosion of fungicidal activities against the resistant pathogens represents a major challenge for the growth of the fungicide market and an opportunity for biopesticides.
By type, the bioinsecticides segment is projected to dominate the biopesticides market during the forecast period.
The increase in demand for sustainable agriculture practices, integrated pest management, pest resistance & resurgence, organic farming, and the growing need to curb post-harvest crop losses have encouraged the development of agricultural biologicals. In comparison to their chemical counterparts, biological solutions are target-specific and are required in smaller amounts. Bioinsecticides are safe for use and pose no hazard to the environment, unlike chemical pesticides, since they do not leave behind any chemical residues on the plant. Moreover, the reduced product development cost and time associated with bioinsecticides offer an advantage to manufacturers, wherein they can also be registered within a short duration, while chemical registration can take as long as three years.
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Europe to be the fastest-growing market during the forecast period.
The biopesticides market in the Europe region is projected to grow at the highest CAGR during the forecast period. The increase in demand for high-quality crops to maintain the export quality, regulatory ban on key active ingredients, and emergence of pests and diseases due to the climatic changes is paving the way for the use of biopesticides in Europe.
This report includes a study of the marketing and development strategies, along with the product portfolio of leading companies. These companies include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA L.L.C (US), Novozymes A/S (Denmark), Marrone Bio innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India), Valent Biosciences LLC (US), BioWorks, Inc. (US), STK Bio-ag (Israel), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Bionema (US), Vegalab S.A (US), Isagro S.p.A (Italy), FMC Corporation (US), Koppert Biological Systems (Netherlands), and UPL Ltd (India).
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