This market is driven by the increasing investment from leading crop protection firms in biopesticides market, growing awareness regarding environmental safety with use of biopesticides, increasing organic farming and demand for organic food, and growing government initiatives to push the employment of biopesticides across the world, this may increase the market by USD 7,626.3 million, supported by a CAGR of 16.3% during the forecast period of 2017 to 2022.
Global biopesticides market is expected to reach USD 7,626.3 million by 2022, supported by a CAGR of 16.3% during the forecast period of 2017 to 2022. This market is driven by the increasing investment from leading crop protection companies in biopesticides market, growing awareness about environmental safety with use of biopesticides, increasing organic farming and demand for organic food, and growing government initiatives to promote the use of biopesticides across the globe. However, the lack of awareness and low adoption of biopesticides, low shelf life, and inconsistent performance of biopesticides hamper the growth of this market to some extent.
The global biopesticides market is mainly segmented by type, application, formulation, origin, and crop type. The biopesticides market by type is further segmented into bioinsecticides, bioherbicides, biofungicides, and bionematicides. By mode of application, the market is segmented into foliar spray, seed treatment, soil treatment, root treatment, and post-harvest. Based on formulation, market is segmented into liquid formulation and dry formulation. By crop type, the market is segmented into fruits and vegetables, grains cereals and oilseeds, and other crops. In product type, bioinsecticides commanded the largest share in the global biopesticides market in 2016, while the bioherbicides market is expected to witness highest growth during the forecast period.
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Global Biopesticides Market Size, By Type, 2017-2022
Source: Meticulous Research Analysis
Geographically, the global biopesticides market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. North America accounted for the major share in the global biopesticides market in 2016, followed by Europe, and Asia-Pacific region. The major share of the North American region is mainly attributed to the rising concern over harmful chemicals on environment, increasing demand for organic food, and most streamlined registration process. On the other hand, Asia Pacific region is projected to grow at a faster CAGR during the forecast period, due to increasing demand for organic food production, high prevalence of crop diseases, and various government initiatives to develop and increase application of biopesticides in the region.
The key players in the global biopesticides market are BASF SE, Bayer CropScience AG, Marrone Bio Innovation, Certis USA L.L.C., The Dow Chemical Company, Monsanto Company (Part of Bayer), Isagro S.P.A.,Camson Bio Technologies Limited, AndermattBiocontol AG, Som Phytopharma India Limited, Syngenta, International Panaacea Ltd, The Stockton Group, BioWorks, Inc., Novozymes, Inc., Koppert B.V., W. Neudorff GMBH KG, in vivo, Valent U.S.A. LLC, and FMC.
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