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Biopesticides market size exceeded USD 2.2 Billion, globally in 2019 and is estimated to grow at over 5% CAGR between 2020 and 2026. Growing demand for natural based manure among farmers along with increasing industry competitiveness is driving the business growth.
Rapid expansion of the organic food & beverage industry accompanied by increasing consumer awareness pertaining to food safety & hygiene is driving the biopesticides market growth. The global organic F&B market has crossed USD 100 billion in 2018, dominated by economies of the U.S., Germany, France, and China.
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Necessity to improve the agricultural output owing to rising population and reducing arable land area is shifting the preference towards biopesticides. Moreover, developing economies of APAC and MEA have large employment base in the agriculture sector thus enhancing the government focus to improve the agricultural exports.
Stringent regulations to reduce the pesticide residue in food products is generating new growth avenues for the biopesticide manufacturers. Various food exporting countries are using biopesticides to meet the consumer expectations in the developed economies of North America and Europe. However, global pandemic COVID-19 resulted in disruption of supply chain and low purchasing power of consumers which can hamper the biopesticides market.
Report Coverage | Details |
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Base Year: | 2019 |
Market Size in 2019: | 2,294.4 Million (USD) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 5.3% |
2026 Value Projection: | 3,319.7 Million (USD) |
Historical Data for: | 2015 to 2018 |
No. of Pages: | 280 |
Tables, Charts & Figures: | 424 |
Segments covered: | Product, Application, Crop, Form, Source, Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Biopesticides market manufacturers have focused on developing products to suit the climatic variations in a region along with improving their geographic presence. Moreover, ease in availability of biopesticides along with favorable cost economics is escalating the product usage. Environmental concerns over use of traditional pesticides have led to supportive government initiatives across the globe for promoting bio products for agriculture sector. These are highly valuable for environmental and ecological balance in terms of crop protection.
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Biopesticides is segmented based on products into bio herbicides, bio insecticides and bio fungicides. The shift toward genetically modified seeds and increasing investments in research and development across the globe is anticipated to fuel the usage of bio fungicides, registering sales of over $990 million in 2019.
Technological advancements have led to development of highly effective bio fungicides to reduce the damage caused by fungicide and disease-causing bacteria. Moreover, product development with capability to withstand high temperatures will augment the biopesticides market share.
Based on the formulation available in the market, biopesticides are segmented into dry and liquid formulation. Liquid form held a significant share in 2019. Liquid formulation is advantageous over the dry formulation in providing improved field performance with reduced changes of nozzle blockage. Moreover, the ease in applicability and uniform application may support the biopesticides market sales over the projected timeframe.
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Foliar spray application dominates the overall industry accounting for more than 80% in 2019. Biopesticides application using foliar spray ensures efficient pest control and increases plant productivity. Increasing usage of foliar spray in crop protection owing to ease in application as well as availability of spray ingredients will propel the global biopesticides market growth.
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Biopesticides are majorly used for crops such as grains & oilseeds, fruits & vegetables, among others. The fruits & vegetable segment was estimated to be valued at over $1.6 billion in 2019. Escalating global demand for organic fruits & vegetables coupled with increasing awareness regarding healthy diet are the factors driving the growth of the segment.
Moreover, consumer driven movements such as ‘clean label’ and favorable government regulations has improved the consumer awareness, thereby urging the farmers to adopt bio-based pesticides.
Based on source, the market is segmented as microbial, biochemical and other sources. Microbial biopesticides are projected to be the fastest growing segment from 2020 to 2026, registering a CAGR of over 6%. Microbial pesticides dominate the global biopesticides market share are effective alternative for places where use of traditional pesticides is restricted. These places majorly include urban & recreational areas, streams and lake borders of watersheds, and schools in agricultural settings.
North America accounted for 37% market share in 2019 and is anticipated to grow at a considerable rate from 2020 to 2026. Large organic industry along with favorable regulatory support is driving the organic farming practices in North America. According to USDA, the U.S. organic retail foods sales reached around USD 40 billion in 2016. Organic fruits & vegetables amounted for the largest share and are projected to continue its dominance over the forecast timeframe.
The global market is highly competitive owing to presence of large number of multinational corporations as well as regional manufacturers. Key participants in this biopesticides industry include Koppert B.V., Arysta Lifescience, Bayer, Bioworks, Stoller, Syngenta, Futureco Bioscience, BASF SE, Parry America, Inc., International Panaacea Ltd, Bio Huma Netics Inc., and Valent BioScience.
Most of the companies in the industry have been exploring new markets through collaborations, new product launches and acquisitions, to avail a completive market advantage thought well connected and combined strategies.
In December 2017, Koppert acquired BUG Agentes Biologicos, a leading biological control company in Brazil. This acquisition may assist Koppert to strengthen its position in the macro-biological crop protection business across Latin America.
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