The global biopesticides market was experiencing growth driven by increasing awareness about sustainable agriculture practices, concerns over the environmental impact of chemical pesticides, and a growing demand for organic food. Biopesticides are a type of pest control method derived from natural materials such as animals, plants, bacteria, and certain minerals. They are considered environmentally friendly and are often used as alternatives to synthetic chemical pesticides. The global biopesticides market includes various types of biopesticides, such as bioinsecticides, biofungicides, and bionematicides.
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The biopesticides market size is projected to reach USD 13.9 billion by 2028 from USD 6.7 billion by 2023, at a CAGR of 15.9% during the forecast period in terms of value. The growing awareness about the harmful effects of synthetic pesticides on human health and the environment has led to a rising demand for biopesticides.
Europe is expected to hold a significant biopesticides market share during the forecast period
Countries such as the France, Germany, Spain, Italy, UK, Netherlands, Russia and Rest of Europe have been considered in this study. Biopesticides refer to the use of various products and techniques to protect crops from damage caused by environmental factors, heavy foot traffic, and other factors. The demand for biopesticides is driven by several factors, including Biopesticides offer a safer and more sustainable alternative for pest control in agriculture and the increasing adoption of organic farming practices, driven by consumer demand for chemical-free food and sustainable agricultural practices, has boosted the demand for biopesticides.
The demand for biopesticides is particularly strong in developed countries with large and growing sports and landscaping industries. For example, in France, the demand for biopesticides is driving due to governments and regulatory bodies are imposing stricter regulations on the use of synthetic pesticides due to their potential adverse effects. This has created a favorable environment for the biopesticides market to flourish.
The microbial source of the biopesticides segment is driving the market due to target pest specificity
The demand for microbial pesticides is increasing due to their effectiveness in integrated pest management (IPM) strategies. IPM emphasizes the use of multiple pest control methods to achieve sustainable and targeted pest management. Microbial pesticides are a valuable component of IPM as they offer an environmentally friendly alternative to chemical pesticides. This resonates with farmers who seek sustainable and long-term solutions for pest control.
Moreover, microbial pesticides have demonstrated their efficacy against a wide range of pests and diseases. They possess a high level of specificity, allowing them to selectively target pests while minimizing harm to beneficial insects. This precision in pest control is crucial for preserving biodiversity and maintaining ecological balance in agricultural ecosystems. Farmers recognize the importance of using microbial pesticides to protect their crops while minimizing the unintended negative impacts on the environment.
The liquid formulation of biopesticides segment is driving the market in biopesticides in 2023
The increasing demand for liquid biopesticides can be attributed to several key reasons. Firstly, the ease of application is a significant advantage. Liquid biopesticides can be conveniently mixed with water and applied using standard spraying equipment. This allows for efficient and uniform coverage of crops, ensuring effective pest control. Farmers appreciate the convenience and flexibility offered by liquid formulations, as they can seamlessly integrate them into their existing spraying routines. Secondly, liquid biopesticides tend to have a longer shelf life compared to powdered or granular forms. This extended shelf life enables better storage and distribution, reducing the risk of product deterioration. It ensures that the biopesticides remain viable and available when needed, providing farmers with a reliable pest management solution.
Moreover, liquid formulations offer improved adherence to plant surfaces, enhancing their efficacy. They have the ability to penetrate the tissues of plants and provide systemic protection against pests and diseases. This is particularly beneficial when combating pests that target below-ground plant parts or when managing systemic diseases that affect the entire plant. The ability of liquid biopesticides to provide systemic protection contributes to their effectiveness in controlling pests and diseases.
Significant businesses showcased the global biopesticides market
BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), UPL (India), FMC Corporation (US), Pro Farm Group Inc. (US), Novozymes (Denmark), Isagro S.p.A (Italy), Nufarm (Australia), and Certis USA L.L.C. (US).
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Key Questions Addressed-
Who will be the leading hub for the global biopesticides market?
Are there any challenges affecting this industry, as per the global biopesticides market forecasts?
What is the biopesticides market size in years to come?
Which region holds the largest biopesticides market share?
