The global biopesticides market reached a value of US$ 3.5 Billion in 2019. A biopesticide refers to an organic pest repellent that is manufactured using naturally occurring substances, such as plants, microbes and biochemicals. Bioherbicides, bioinsecticides and bio fungicides are some of the most commonly used biopesticide products. They aid in controlling the growth of weeds, pests and insects on crops and are usually applied through foliar spray or directly added into the soil for the treatment of crops. In comparison to the traditionally used synthetic pesticides, biopesticides are inherently less toxic, provide permanent or long-term control of pests and are highly efficient even when applied in minimal quantities.
Significant growth in the agriculture industry, along with the increasing adoption of organic farming practices, represent as the key factors driving the growth of the market. Owing to the growing concerns for soil health, agricultural sustainability and environmental safety, biopesticides are being increasingly used to improve soil fertility and prevent plant infestation. Furthermore, increasing consumer awareness regarding the adverse environmental effects of using synthetic pesticides and other agricultural additives is also providing a boost to the market growth. Artificial pesticides and fertilizers are known to leave a toxic residue, which can cause microbial imbalance, soil pollution and reduce the levels of biocontrol agents in the soil. Additionally, shifting consumer preference toward organic food products manufactured using chemical-free ingredients is creating a positive impact on the market growth. Other factors, such as innovations in the field of agricultural sciences and the implementation of favourable government policies to promote sustainable farming practices, are projected to drive the market in the upcoming years. Looking forward, IMARC Group expects the market to reach a value of US$ 7.8 Billion by 2025, registering a CAGR of 14.5% during 2020-2025.
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The competitive landscape of the industry has also been examined with some of the key players being BASF, Bayer Cropscience, Certis USA LLC, FMC Corporation, Isagro, Koppert B.V., Marrone Bio Innovations, Novozymes Biologicals, Stockton (Israel) Ltd., Syngenta, The Dow Chemical Company, Valent BioSciences Corporation, etc.
Key Questions Answered in This Report:
The global biopesticides market size reached a value of US$ 3.5 Billion in 2019.
As per the IMARC Group estimates, the global biopesticides market will reach a value of US$ 7.8 Billion by 2025.
The global biopesticides market is primarily driven by the growing adoption of organic farming practices, along with considerable growth in the agriculture sector across the globe.
The major trends in the market are the shifting consumer preference toward organic food products that are produced using chemical-free ingredients and the growing awareness regarding the adverse effects of using artificial pesticides.
Leading industry players are BASF, Bayer Cropscience, Certis USA LLC, FMC Corporation, Isagro, Koppert B.V., Marrone Bio Innovations, Novozymes Biologicals, Stockton (Israel) Ltd., Syngenta, The Dow Chemical Company, and Valent BioSciences Corporation.
On the basis of the region, the market has been categorized into North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The market has been segregated on the basis of source into microbials, plant extract and biochemicals.
During 2020-2025, the global biopesticides market is expected to expand at a CAGR of 14.5%.
On the basis of the formulation, the market has been bifurcated into liquid and dry.
Based on the application, the market has been divided into foliar spray, seed treatment, soil treatment and post-harvest.
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