"We Envision Growth Strategies Most Suited
to Your Business"
April 18, 2019 | Agriculture
According to the Department of Agriculture Development, the global use of biopesticides is increasing by 10% each year. It was found that the growth of biopesticides outpaced the chemical pesticide synthesis, exhibiting a remarkable annual growth rate of 15%. The rising adoption of organic farming practices across the world is likely to fuel the demand for biopesticides in the coming years. According to the Research Institute of Organic Agriculture, around 50.9 million hectares of agricultural land is under organic farm practices since 2015. Fortune Business Insights predicts gradual shift towards organic framing will bode well for the Global Biopesticides Market between 2018 and 2025.
Cultivators and farmers are also using biopesticide solutions to minimize the environmental impact created by chemical pesticides. Several companies are developing non-synthetic pesticides or biopesticides to ensure biodegradability, long-term effectiveness, and quick decomposition. For instance, In April 2018, Isagro USA received approval by the California EPA for Taegro-2 broad-spectrum biofungicide, recommended for use in a wide variety of horticulture crops. The product consists of an active ingredient called Bacillus subtilis var. amyloliquefaciens Strain and provides protection from major soil-borne and foliar diseases.
The global biopesticides market was valued at US$ 3.36 Bn in 2017 and is anticipated to reach US$ 10.19 Bn by the end of 2025. The market is expected to showcase an exponential CAGR of 14.93% between 2018 and 2025.
FBI predicts the microbial biopesticides segment to account for the highest share in the global biopesticides market. Microbial pesticides help farmers to control crops from a variety of plant pathogens in protected cultivation systems, nurseries, and fields. Proven efficiency in the control of various types of pests in a wide range of crop types (especially horticulture crops) is contributing to the growth of microbial biopesticides. In 2018, a Canadian start-up company called Bee Vectoring Technology developed bee vectored biopesticides. These biopesticides act as an alternative to pesticide spraying by utilizing bees to carry and distribute an organic powder during their pollination.
While the biopesticides market is growing considerably, they cover a lesser share in the overall agrochemical market. Lack of awareness about the use of biopesticides among farmers, agronomists, influencers such as researchers, and crop consultants may hamper the growth of the market. Therefore, it is important to educate people and farmers in the agricultural industry about the use of biopesticides. Moreover, companies are planning to initiate several programs on the management of biopesticides to achieve an efficient crop yield.
Companies are using big data on the farm lands to enhance crop yield by understanding the crop varietal effects, different soil types, the microbiome, soil & crop water, among other factors. Several universities and government institutes are developing technology models for biopesticides. Precision farming, drone-based systems, and other tools are introduced to collect data in real-time in the fields and reduce manual scouting. In the coming years, biopesticide adoption is likely to increase substantially as technology, data, and pest management are married. Moreover, rising investments in R&D allow the development of new biopesticide solutions with very high efficiency and improves the shelf life of products. Walmart and Tesco are able to distribute products leaving zero residues on the shelves of their supermarkets.
Author - Deepu Bhatt