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The global biopesticides market size was valued at USD 3.36 Billion in 2017, is projected to reach USD 10.19 Billion by the end of 2025, exhibiting a CAGR of 14.93% during the forecast period.
The growth of biopesticides is projected to outpace the demand for synthetic chemical pesticides in coming years considering the benefits they offer in protecting the crop from pest and diseases apart from other advantages such as residue level and resistance management, biodegradability, investments, and development of products (limited timeline and cost associated).
According to the Research Institute of Organic Agriculture (one of the world's leading organic farming information and research centres), 50.9 million hectares of agricultural land is under organic farm practices (as of 2015) and witnessed a CAGR of 7.4% during the period, 2010 to 2015. The increasing area under organic farming is projected to demand more biopesticide products which will, in turn, boost the biopesticides market value.
Other key factors driving the global market are the involvement of start-up companies in the R&D of biopesticide active ingredients. The limited time required for R&D of biopesticide products and the reduced investment costs compared to synthetic chemical active ingredients are the key factors that attract the start-up companies to involve in the development of biopesticide products.
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"Bionematicides to Emerge as the Most Attractive Product Type due to the Elevating Demand for Appropriate Solutions for Pathogenic Nematodes Control"
Biofungicides and bioinsecticides segments cumulatively accounted for nearly 92-95% of the global market in 2017. Bacillus sps. is the most commonly used biopesticide globally and is effective in control of crop pests. High-value fruits & vegetable crops accounted for the highest share in the consumption of biopesticide products globally. This factor will propel the biopesticides market growth.
The current share of global market is limited but is projected to witness strong growth during the forecast period. Around 10% of all the nematodes species are plant-parasites and the crop losses valued nearly USD 80-100 billion annually. Horticultural crops grown under protected cultivation are more prone to damage by pathogenic nematodes. Increasing shifts in patterns of tillage of soil and adoption of zero or minimum tillage farm practices are leading to the enlargement of pathogenic nematodes population density in the soil.
This factor is predicted to contribute to biopesticides market growth. Considering the economic losses, industry stakeholders (including a large number of start-up companies) are actively exploring the opportunities to identify the biological pesticides that are effective in control the pathogenic nematodes, and the same is projected support for the strong growth of the bio nematicides market. Bacillus Firmus, Pasteuria spp, and Purpureocillium lilacinus are currently identified as potential nematicides.
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"MICROBIAL SEGMENT IS PROJECTED TO WITNESS STRONG GROWTH"
Microbial such as bacteria and fungi account for the highest share in the biopesticides market and are projected to witness strong growth in the biopesticides industry during the forecast period. Microbial-based biopesticides are popularly used to protect the crops from a wide range of plant pathogens in various cultivated environments such as fields, nurseries, and protected cultivation systems (such as greenhouse and glasshouses).
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 April 2018, Isagro USA received approval by the California EPA for Taegro-2 broad-spectrum biofungicide (with active ingredient Bacillus subtilis var. amyloliquefaciens Strain), which is recommended for use in a wide variety of horticulture crops and the product provides protection of major soil-borne and foliar diseases.
North America Biopesticides Market, 2017
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North America followed by Europe are the two largest biopesticides Industry at present and they are expected to account for a significant proportion of the biopesticides market during the forecast period as well. Stringent regulations on the usage of synthetic crop protection chemicals to protect the environment from hazardous effects are driving the biopesticides Industry in North America and Europe. South America and the Asia Pacific are emerging markets in biopesticides and are projected to witness strong growth during the forecast period to hold a significant market share in the global market.
"New products launches and acquisitions are the key strategies adopted in the market"
New products launches and acquisitions were the preferred strategies during the period from 2014 to 2017 gained access to the global market. Moving ahead, new product launches and agreements strategies are projected to uplift biopesticides market trends during the forecast period. For instance, Stockton STK specializes in the development of botanical-based pesticides, has signed several long-term distribution agreements for its innovative product Timorex Gold biofungicide with key companies in the agrochemical industry.
Currently, major challenges of humanity are population growth, food security, and concerns over pesticide residue in the food products. Aberrant usage of crop protection chemicals has resulted in the occurrence of pesticide residues in food products above the level (MRLs) set by the governing bodies. Hence, it is vital to identify and promote the environment-friendly alternatives of synthetic chemical pesticides for sustainable growth in agriculture to achieve global food security.
Biopesticide products/technologies are essential components in modern integrated pest management concept or these can also be used to complement the synthetic chemicals used in the protection of crops to achieve the required level of crop protection from pests and diseases.
Increasing awareness about pesticide residues in food has led consumers to shift towards organic food products. Even the government bodies around the world are now putting policies in place with the intention to reduce the use of conventional synthetic origin crop protection chemicals.
Limited availability of quality products, low level of shelf-life of products, limited awareness about the benefits of biopesticides among crop producers, and weakness of the supporting policy network are some of the inhibiting factors for the growth of the biopesticides industry.
The biopesticides market report provides qualitative and quantitative insights on industry size and growth rate for all possible segments in the market. The market is segmented by type, source, mode of application, and crop type. On the basis of type, the global market is categorized into bioinsecticides, biofungicides, bionematicides, and others. Based on the source, the global biopesticides industry is segmented into microbial and biochemicals.
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Foliar spray, soil treatment, seed treatment, and others are the mode of applications covered in the study. Various crop types included in the report are cereals, oilseeds, fruits and vegetables, and other crops. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the biopesticides market trends and competitive landscape. The report also provides insights into the recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, patent analysis, and key biopesticides industry trends.
By Mode of Application
Fortune Business Insights says that the biopesticides market was valued at USD 3.36 Billion in 2017 and is projected to reach USD 10.19 Billion by 2025.
Fortune Business Insights says that the global biopesticides market was valued at USD 3.36 Billion in 2017.
The biopesticides market is projected to grow at a CAGR of 14.93% during the forecast period (2018-2025).
Biofungicides is the leading segment among by-type in the biopesticides market.
Pesticide residue management, biodegradability, and limited cost and time associated in developing new products are the key factors driving the biopesticides market.
Bayer CropSceince, Syngenta, UPL, BASF, Marrone Bioinnovations, Koppert B.V., and Valent Biosciences are the key active players in the biopesticides market.
North America is expected to hold around 37.8% share in the global biopesticides market.
Increasing incidences of pest outbreaks in crops and the development of pest resistance to some of the pesticide products are the factors expected to drive the adoption of biopesticides.
Microbial sourced biopesticides dominate the global biopesticides market.