Biopesticides Market

Biopesticides Market - Size, Share, Outlook, and
Opportunity Analysis, 2019 – 2027
The global biopesticides market size is expected to witness potential gains in the
future, and register a significant CAGR of 15.92% over the forecast period (2019 2027). The market was valued at US$ 2.9 billion in 2018, and is expected to reach
US$ 6.5 billion by 2027.
Market Overview
Biopesticides are derived from natural materials such as plants, bacteria, fungi, and
virus. There are three major types of biopesticides: biochemical pesticides, microbial
pesticides, and plant-incorporated-protectants (PIPs). Biopesticides are used in
organic farming, eco-friendly pest management, controlling pant diseases, seed
treatment, and soil amendments. Mass production of biopesticides can be achieved
by developing carrier based formulation by the use of native strains of Trichoderma
and biofertilizers. Bacillus thuringiensis can also be used to produce biopesticides.
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Market Dynamics
Considerable pressure on farmers to reduce or eliminate the use of pesticides in
crop production systems, owing to the effects of pesticide residues on human health
and on the environment is a major factor boosting growth of the market. Moreover,
several government organizations are focused on development of ‘safer pesticides’
such as the Environmental Protection Agency (EPA). The current EPA policy is to
facilitate the testing and registration of pesticides which have ‘reduced risks’. Such
initiatives may have significant Impact on market size over the forecast period.
However, biopesticides have high specificity, which means that certain biopesticides
may only be effective on certain pests. This in turn may require use of multiple
products, which may not be commercially viable. Moreover, biopesticides are often
slow in action against pest, which may not be appropriate in case of a pest outbreak
on a crop. The possibility of a target pest/disease developing resistance or tolerance
is low can also adversely affect the market size. However, adoption of an
anti-resistance strategy may help in mitigating the issue.
Development of more active strains can increase the performance and acceptance
of commercial products and broadened their use against other insect pests.
Biological control is the most vital substitute to chemical pesticides to protect crops
from pests, pathogens, and weeds. Therefore, key players in the market should
focus on adoption of new genetic-engineering technology that promotes biological
control in order to enhance their market share. Genetic engineering can be used for
biological pest control by enhancing the properties of the biological control agents or
by engineering crop plants to be resistant to pests.
Market Outlook
North America is expected to be the largest market followed by Europe in the global
biopesticides market. This is due to stringent regulations against the use of chemical
pesticides that eventually promote the use of biopesticides in the region.
Key Players
Some of the major players operating in the global biopesticides market include,
Valent BioSciences Corporation, Certis (US), Marrone Bio Innovations, Bioworks,
FMC Corporation, Stockton Group, UPL, Bayer CropScience, BASF, Syngenta,
Isagro, and Koppert.
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The global biopesticides market size is expected to witness potential gains in the future, and register a significant CAGR of 15.92% over the forecast period (2019 - 2027).