The growing demand for organic food and Government strict regulations against the excessive usage of chemical insecticides are driving the demand of the market.
The global Biopesticides Market is forecast to reach USD 10.11 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the biopesticides Market to maintain a stable growth rate over the forecast period. The manufacturers of organic insecticides are launching new products and collaborating with prominent brands in order to strengthen the market.
Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the biopesticides market. Though food demand is inelastic, but there can be a change in the dietary patterns of the consumers. While the above reasons can lead to a negative impact, but the inelasticity of demand for food will significantly result in the growth of the industry. Due to the COVID-19, the manufacturers of the biopesticides are adopting safety regulations and strategies, which may result in the industry's growth over the forecast period.
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The COVID-19 impact:
With the outbreak of the coronavirus, WHO encourages people to take more aggressive steps to prevent the widespread of the virus and to abide by the rules and regulations created by the respective governments of each country. The farmers and the manufacturers of the biopesticides industry have been widely affected by the disruptions in the supply chain and influence ingredients and raw materials. To prevent the transmission of the COVID-19 virus, Lockdowns have been announced worldwide, which is hampering the transport of raw materials, thus obstructing the production. The COVID-19 pandemic also created a raw material price volatility for the manufacturers of the Biopesticides products. The complete lockdown all over the world is causing a disturbance in the trade operations of the products. The pesticide value chain is directly affected by the lockdowns. The Manufacturers of the biopesticides are depending on the raw materials which were kept for emergency purpose. The raw materials will be soon over pertaining to the current situation and the probable continuation of the lockdown.
Key participants include Valent Biosciences LLC, Koppert Biological Systems, Bayer CropScience AG, Syngenta AG, Marrone Bio Innovations, Andermatt BioControl AG, Stockton BIO-AG Technologies, International Panaacea LTD, Certis USA L.L.C and BASF SE, among others.
Further key findings from the report suggest
- The Bioinsecticides segment held a significant share in the market. It is environmentally friendly and helps the crops get rid of the harmful insects and not from the beneficial insects. The growing concerns among consumers regarding the environmental hazards caused by chemical pesticides, an increasing number of resistant pests, and high chances of insect-based infections have boosted the biopesticides industry.
- Based on the type of crops on which the biopesticide is applied, the fruits and vegetable segment registers the highest growth capturing almost 52.6% of the market mainly due to the increasing production of fruits and vegetables globally and increasing adoption of organic farming.
- North America has the highest adoption rate in the market and has registered a revenue of about USD 1.45 billion in 2019. The easy registration process for the bioinsecticides manufacturers initiated by the EPA has resulted in the entrance of many new manufacturers in the industry. The increasing interest in green agricultural practices and the strict government actions towards excessive use of chemical insecticides have driven the growth of the industry in the region. Both Asia-Pacific and North America are expected to anticipate significant growth over the forecast period.
- The biopesticides market is adopting some wiser strategies in order to say competitive in between the growing demand of the product. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.
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For the purpose of this report, Reports and Data have segmented the global Biopesticides Market on the basis of product type, crop type, mode of application, source, formulation and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Bioherbicides
- Bioinsecticides
- Biofungicides
- Bionematicides
- Others
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Fruits Vegetables
- Cereals pulses
- Grains Oilseeds
- Others
Mode of Application Outlook (Revenue, USD Billion; 2017-2027)
- Seed treatment
- Foliar spray
- Soil treatment
- Others
Source Outlook (Revenue, USD Billion; 2017-2027)
- Biochemical
- Microbial
- Beneficial Insects
- Others
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Formulation Channel Outlook (Revenue, USD Billion; 2017-2027)
- Liquid Formulation
- Dry Formulation
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
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