According to a new report published by Variant Market Research, the global biopesticides market size is forecasted to reach $4 billion by 2024 from $2 billion in 2016 growing at a CAGR of 8.8% from 2016 to 2024. Geographically, Asia-Pacific is the fastest growing region in the global biopesticides market.
Biopesticides Market (By Product Type: Biofungicide, Bionematics, Bioinsecticides, Bioherbicide; By Active Ingredient Type: Biochemical Pesticides, Microbial Pesticides, Plant-Based Pesticides; By Crop Type: Arable Crops, Permanent Crops, Others; By Application: On-Farm Application, Post-Harvest, Seed Treatment Application; By Geography: North America, Europe, Asia-Pacific, RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024
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Advancements in biotechnology and end-user awareness are the major factors driving the market
Advent in biotechnology towards sustainable environment, agriculture, improving soil fertility is the key factor fueling the biopesticide market trend. The global biopesticides market is also further accelerated by factors such as promotional activities by government agencies, rise in the cost of chemical fertilizers and pesticides, and rapid growth of bio-control seed treatment solution. However, ethical issues and lack of knowledge about biopesticides may restrain the market size.
The biopesticides market is categorized based on the product type, active ingredient type, crop type, application and geography. By product type, it is segmented into bioinsecticides, biofungicide, bionematics and bioherbicide. Active ingredient type is bifurcated into microbial pesticides, plant-based pesticides and biochemical pesticides. Crop type is segmented into permanent crops, arable crops and others. Applications are segmented into seed treatment application, on-farm application and post-harvest. By geography the market is segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Spain and others. Asia-Pacific covers China, India, Japan and others. Rest of the World (RoW) covers South America, Middle East and Africa. Among these regions, India, Pakistan, Nigeria, Kenya, Philippines also have turned to be witnessing an incredible growth in the biopesticide market.
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Bioherbicides and Bioinsecticides dominates the market share by attaining 36.7% and 31.8%, respectively in the year 2016
Bioherbicides and bioinsecticides are usually less toxic as compared to conventional ones. Bioinsecticides made by the use of Bacillus thuringiensis are most widely used insecticide useful for pest control. Biopesticides help in attaining a better sustainable environment and also do not hamper soil fertility.
Microbial pesticides lead the active ingredients segment, holds the maximum market share with 57.5%,
Microbial pesticides consist of a microorganism as the active ingredient. Microbial pesticides are able to control different kinds of pests, although each separate active ingredient is relatively specific for its target pest. Increasing concern towards environment and sustainable agriculture fuels the market trend of biopesticides.
North America accounts for the largest market share
North America dominated the biopesticide market in 2016 with 41.6% market share followed by Asia-Pacific with 30.7%. Regulations by US Environmental Protection Agency (EPA) and Canada’s Pest Management Regulatory Agency (PMRA) followed by easy registration process for biopesticides contributed the growth of biopesticides market in North America. Asia-Pacific is the fastest growing region and is projected to continue the market trend owing to increasing population and promotions by various NGOs and government organizations to use bio-control products.
The key players dominating the market include Bayer CropScience Ag, GreeNeem, Sibbiopharm Ltd., Isagro SpA, BioWorks, Inc, San Jacinto Environmental Supplies, Troy Biosciences, Inc., Syngenta Bioline Ltd. Dow AgroSciences LLC, AgBiTech Pty Ltd. and others.
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Scope of Biopesticides Market
Product Type Segments
Active Ingredient Type Segments
• Biochemical Pesticides
• Microbial Pesticides
• Plant-Based Pesticides
Crop Type Segments
• Arable Crops
• Permanent Crops
• On-Farm Application
• Seed Treatment Application
• North America
o United Kingdom
o South Korea
o South America
o Middle East
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