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The global biopesticides market reached a value of US$ 5.4 Billion in 2021.
According to the estimates by IMARC Group, the global biopesticides market is expected to exhibit a CAGR of 14.5% during 2022-2027.
A significant growth in the agriculture sector along with the rising adoption of organic farming practices are some of the key drivers for the global biopesticides market.
The shifting consumer preferences towards organic food products based on the growing awareness towards negative health impact of chemical pesticides represent one of the key trends in the global biopesticides market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and supply chain disruptions pertaining to biopesticides.
On the basis of the product, the market has been bifurcated into bioherbicides, bioinsecticides, biofungicides, and others. Currently, bioinsecticides hold the largest market share.
On the basis of the formulation, the market has been bifurcated into liquid and dry. Currently, liquid exhibits a clear dominance in the market.
On the basis of the source, the market has been divided into microbials, plant extract, and biochemicals. Among these, microbials represent the largest segment.
On the basis of the mode of application, the market has been classified into foliar spray, seed treatment, soil treatment, and post-harvest. Among these, foliar spray holds the largest market share.
On the basis of the crop type, the market has been bifurcated into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. At present, fruits and vegetables represent the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, North America where dominates the global market.
The key companies in the global biopesticides market BASF, Bayer AG, Certis USA LLC, FMC Corporation, Isagro,Koppert Biological Systems., Marrone Bio Innovations, Novozymes Biologicals, Stockton (Israel) Ltd., Syngenta Crop Protection AG, The Dow Chemical Company, Valent BioSciences LLC., etc.
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