Biopesticides Market Analysis

Biopesticides Market Analysis

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.
 

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.