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Biopesticides Market size exceeded USD 2.5 billion in 2021 and is estimated to grow at over 11% CAGR from 2022 to 2030. Increasing consumer demand of organic fruits & vegetables along with technological advancement in farming practices will drive market during the forecast period.
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Increasing consumer inclination towards natural & organic food products owing to ongoing trend of healthy lifestyle have positively influenced biopesticides business during forcasted timeframe. Biopesticides are naturally derived pesticides occred from plants, animals, minerals, and bacteria. Further, rising consumer awareness regarding harmful effects and health issues such as respiratory problems, neurological damage, allergies, and many others associated with consumption of food with pesticides is propelling global biopesticides market growth.
|Market Size in 2021:||USD 2,619.91 Million|
|Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||11.2%|
|2030 Value Projection:||USD 6,718.64 Million|
|Historical Data for:||2017 to 2021|
|No. of Pages:||520|
|Tables, Charts & Figures:||893|
|Segments covered:||Product, Application, Crop, Form, Source|
|Pitfalls & Challenges:|
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Expanding necessity to increase agricultural output due to rapidly growing population and reducing arable land area is supporting the biopesticides business demand. Further, increasing agricultural development in countries like Indonesia, Vietnam, India, Africa, and Malaysia is major factor driving the market statistics. Agriculture plays an important role in the economic development of African and Asian region, contributing around 47% employment in 2021 across the region.
Growing consumption of food coupled with favorable government initiatives across the world to promote bio products has accelerated biopesticides demand. Biopsticides are highly valuable for ecological and environmental balance in terms of crop protection. Addiotionally, rapid technological advancement through systematic and widespread research has positively influenced the industry penetration.
Stringent regulations to minimize the pesticide residue in food products is creating new growth opportunities for the biopesticide manufacturers. Majority of food exporting countries are using biopesticides to meet the consumer expectations in the developed economies of North America and Europe. However, COVID-19 pandemic has resulted in low purchasing power of consumers and disruption of supply chain which can hinder the biopesticides market demand.
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Biopesticides market from bioinsecticides is anticipated to cross USD 3.2 Billion by 2030. Positive outlook of product in farming specifically against the protection of plants and crop from harmful insects has boosted the market demand. Further, increasing necessity to lower the crop losses caused due to insect attacks owing to varying climatic conditions is anticipated to support the bioinsecticides segment growth. Moreover, rising demand for organic pest control owing to consumer health consciousness along with increasing product awareness will accelerate the product share.
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Biopesticides market from foliar spray application is expected to cross USD 5.4 billion by 2030. Foliar spray application accounted for over 80% of market share in 2021, dominating overall biopesticides industry. Rising popularity for foliar spray application owing to its ability that provides efficient pest control and increases plant productivity. Growing utilization of foliar spray in crop protection due to easy availability of spray ingredients along with ease in application will foster the biopesticides industry demand.
Biopesticides market from fruits & vegetables surpassed USD 1.8 billion in 2021. Fruits & vegetables segment is further divide into subsegments including apple, grapes, potato, and others of which potato has comparatively major share in the overall fruits & vegetables segment. Pesticides are necessary during potato cultivation to ward against bugs, fungi, weeds, and viruses.
To protect potato crops, biopesticides are essential, and this will help predict the need for biopesticide products. In potatoes, biostimulants are utilised to promote nutritional value and productivity. Increased demand for potatoes from the food industry due to their diverse end-use applications, such as chips and nuggets, will spur economic growth and have a favourable effect on the market for biopesticides.
Based on the formulation, biopesticides market has segmented into dry and liquid formulation. Liquid formulation held majority share in the market with CAGR of more than 11%. Increasing liquid formulation demand owing to its beneficial properties such as reduced changes of nozzle blockage as well as ability to provide enhanced field performance is fostering industry size. Liquid biopesticide formulations are microbial cultures used to improve stabilization, stickiness, and dispersal abilities. Oil, polymer, water, or combination of these three can be used in liquid formulation.
Biopesticides market by source is segmented as microbial, biochemical, and other sources. Microbial segment is expected to be the largest and fastest growing segment from 2022 to 2030, registering a CAGR of over 11%. Microbial products consist of organisms or metabolites they produce themselves. Furthermore, residues of microbial pesticides are non-toxic and safe to use in all plantation stages which is supporting the microbial biopesticide segment, in turn accelerating the overall business development.
North America biopesticides market is projected to cross USD 2.4 Billion by 2030. Strong organic industry coupled with favorable government regulations is boosting the organic farming practices in the region. Moreover, increasing consumption of biopesticides for use in greenhouses in the U.S. will foster demand for the biopesticides in this region. Additionally, the increasing prevalence of biopesticides in crop protection owing to continues environmental health concerns is expected to play a key role in the regional market expansion.
Biopesticides market share is a fragmented market owing to the presence of various global as well as local companies regulating industry growth. Some of the key players in the market include BASF SE, Marrone Bio Innovations, Bayer Crop Science, Certis USA LLC, and Koppert Biological Systems are among major industry players. Other notable companies include Valent Biosciences LLC, Agrolink, CairoChem, Chema Industries, Novozymes, Seipasa SA, Corteva Agriscience, Indigo Ag, and Bio Intrant. The key players in the market are mainly focusing on new product launches, new technologies, acquisitions, and expansion in developing and developed economies to capture a good market share.
In March 2022, Marrone Bio Innovations Inc. and Bioceres Crop Solutions Corp announced a definitive agreement to combine the companies in an all-stock transaction. This transaction will combine Bioceres expertise in bio nutrition and seed care products with MBI’s leadership in the development of biological crop protection and plant health solutions, creating a global leader in the development and commercialization of sustainable agricultural solutions.
In August 2018, BASF closed the acquisition of a range of businesses and assets from Bayer to complement its activities in crop protection, biotechnology, and digital farming. At the same time, the transaction marked BASF’s entry into the seeds, non-selective herbicides, and nematicide seed treatments businesses.
The biopesticides market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Kilo Tons and revenue in USD Million from 2017 to 2030 for the following segments:
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