According to the latest report by IMARC Group, titled "Biopesticides Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global biopesticides market reached a value of US$ 6.2 Billion in 2022. Biopesticides are biochemical pesticides derived from naturally occurring substances, such as bacteria, plants, animals, and microbes. They are used to control various pests and disease-carrying organisms, including mice, ticks, and rats. There are majorly three forms of biopesticides, namely bioherbicides, bioinsecticides, and biofungicides. These pesticides manipulate the growth of pests, insects, and weeds in crops by getting directly sprayed in the soil through a foliar spray. As compared to conventional pesticides, they are inherently less toxic as they are decomposable in nature, offer long-term pest control, and are highly effective even when applied in small quantities.
Global Biopesticides Market Trends:
The widespread adoption of organic farming practices, in confluence with significant growth in the agriculture industry, represents one of the key factors driving the global biopesticides market growth. In line with this, increasing concerns regarding soil health and agriculture sustainability are acting as another major growth-inducing factor. There is rising awareness regarding the detrimental effects of chemical pesticide application on the soil and the produced crops, which, in turn, is catalyzing the utilization of biopesticides across the globe. This, along with shifting consumer preference toward organic food products, is creating a positive outlook for the market. Other factors, such as the implementation of stringent policies to promote sustainable farming and innovations in the field of agricultural sciences, are driving the market toward growth further. Looking forward, the market value is expected to exceed US$ 13.6 Billion by 2028, registering a CAGR of 14.1% during 2023-2028.
- On the basis of the product, the market has been divided into bioherbicides, bioinsecticides, biofungicides and others. Currently, bioinsecticides dominate the market with the largest share.
- Based on the formulation, the market has been bifurcated into liquid and dry. At present, the liquid segment dominates the market.
- On the basis of the source, the market has been classified into microbials, plant extracts and biochemicals. Amongst these, microbials represent the most popular segment.
- Based on the mode of application, the market has been categorized into foliar spray, seed treatment, soil treatment and post-harvest. At present, foliar spray accounts for the majority of the overall market share.
- On the basis of the crop type, the market has been segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. Fruits and vegetables currently hold the largest market share.
- Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other major regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being BASF SE, Bayer AG, Certis USA LLC, FMC Corporation, Isagro SpA, Koppert Biological Systems, Marrone Bio Innovations, Novozymes A/S, Stockton (Israel) Ltd., Syngenta Crop Protection AG, The Dow Chemical Company, and Valent BioSciences LLC.
|Base Year of the Analysis
||Product, Formulation, Source, Mode of Application, Crop Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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, and Valent BioSciences Corporation
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