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Region : Global | Latest Update: Jul, 2019 | Published Date: Apr, 2019 | Report ID: FBI100073| Status : Published
The Global Biopesticides Market, which was valued at US$ 3.36 Billion in 2017, is projected to reach US$ 10.19 Billion by the end of 2025, exhibiting a CAGR of 14.93%.
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.Other key factors driving the global biopesticides 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 biopesticides 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.
Current market share of bionematicides 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 US$ 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.
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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 bionematicides market. Bacillus firmus, Pasteuria spp, and Purpureocillium lilacinus are currently identified as potential nematicides.
Microbial Segment is Projected to Witness Strong Growth
Microbial such as bacteria and fungi account for the highest share in the global biopesticides market and are projected to witness strong growth 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 markets for biopesticides at present and they are expected to account for a significant proportion of the market during the forecast period as well. Stringent regulations on the usage of synthetic crop protection chemicals to protect the environment from hazardous effects is driving the market for biopesticides in North America and Europe. South America and Asia Pacific are emerging markets biopesticides market and are projected witness strong growth during the forecast period to hold a significant market share in global biopesticides market.
New products launches and acquisitions are the key strategies adopted in the global biopesticides market
New products launches and acquisitions were the preferred strategies during the period from 2014 to 2017 gained access to the biopesticides market. Moving ahead, new product launches and agreements strategies are projected to be in prominence during the forecast period. For instance, Stockton STK specializes in the development of botanical-based pesticides, have signed several long-term distribution agreements for its innovative product Timorex Gold biofungicide with key companies in the agrochemicals 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 the 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 growthof the global biopesticides market.
The report provides qualitative and quantitative insights on the biopesticides market and detailed analysis of market 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 biopesticides market is categorized into bioinsecticides, biofungicides, bionematicides, and others. Based on the source, the global biopesticides market is segmented into microbial and biochemicals. 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 market dynamics 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 industry trends.
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· Microbials (Bacteria, Fungi, and Others)
· Biochemicals (Semiochemicals, Plant Extracts, and Others)
By Mode of Application
· Foliar Application
· Seed Treatment
· Soil Treatment
· Fruits & Vegetables
· Other Crops
· North America (U.S., Canada, and Mexico)
· Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, Thailand, Malaysia, Vietnam, and Rest of Asia Pacific)
· South America (Brazil, Argentina, Chile, and Rest of South America)
· Middle East & Africa (South Africa, Israel, and Rest of MEA)