Global Biopesticides Market to exceed $3.3 billion by 2026
Published Date: May 4, 2020 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights, Inc., the Biopesticides Market size is estimated to surpass $3.3 Billion by 2026. Rise in health consciousness is shifting the farmers’ preference towards products with no synthetic residue.
Necessity for improving crop quality and overall farm yield are among the key aspects propelling the biopesticides market expansion. The product is derived from natural sources and has negligible effect on the plants and soil as compared to traditional pesticides. Moreover, measures to reduce the pesticide residue levels in fruits, vegetables, and grains & cereals will create long term positive impact on the bio inputs industry.
Surge in the organic retail industry owing to consumer willingness to pay higher for safe and high-quality fruits & vegetables is driving the biopesticides market growth. The global organic food industry was over USD 100 billion in 2018 is anticipated to grow at over 13% through 2026. Moreover, development in the value chain of organic food products along with government initiatives to improve the organic cultivation will augment the business advancement.
Reduction in arable land along with increasing food & beverage demand will support the biopesticides market. For instance, Europe’s arable land area is anticipated to reduce from 106.5 million ha in 2017 to 104 million ha in 2030. Also, regulations to reduce the pesticide residue levels along with improved food testing rate to ensure consumer protection are shifting the preference towards biopesticides.
Shift from traditional insecticides along with high effectiveness of biobased products is fueling bioinsecticides demand
Bioinsecticides demand is projected to grow at a considerable rate over the projected timeline. Need to reduce the crop losses due to insect attacks owing to varying climatic conditions is expected to support the bioinsecticides segment expansion. Moreover, growing demand for organic pest control owing to consumer health consciousness along with growing product awareness will drive the segment share.
“As per the analysis, bio insecticides are forecasted to grow at over 5.5% by 2026”
Browse key industry insights spread across 280 pages with 413 market data tables & 11 figures & charts from the report, “Biopesticides Market Size By Product (Bioherbicides, Bioinsecticides, Biofungicides), By Application (Seed Treatment, Foliar, Soil Spray), By Crop (Grains & Oil Seeds, Fruits & Vegetables), By Form (Dry, Liquid), By Source (Microbial, Biochemical), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Seed treatment demand is driven by its ability to improve germination rate
Seed treatment application is forecast to witness over 5.5% CAGR in the global biopesticides market up to 2026. Bio-based seed treatment is driven by non-toxic nature and high crop yield. Furthermore, bio-controlled seed treatment delivers additional targeted motives against the desired pests and enhances the nutritional uptake competence of crops.
This application method provides additional protection against the desired pests as well as improves the nutritional uptake competence of crops.
Increasing organic grains & oil seeds production is driving the segment share
Grains & oil seeds segment is likely to contribute over 20% of global biopesticides industry share in 2026. Oats, vegetables, grains, and oilseeds are majorly contributing crops. The product prevents the generation of pathogens in the yield and enhance crop productivity. Biopesticides are applicable on grains such as corn, wheat, oats, soybeans, and barley.
Rapid expansion in the organic grains production is supporting the biopesticides market growth. The U.S. organic grains and soybean imports increased from nearly USD 42 million to USD 401 million in 2016.
Ready-to-use and ease in applicability is propelling the dry form biopesticides usage
Key aspects such as ready-to-use without mixing, and effectiveness in reaching difficult indoor areas indoor areas are driving the segment growth. The dry formulation is applicable where moisture from a spray may cause damage. Moreover, ease in handling, application, and storage will escalate the biopesticides market value. However, it can be difficult to get an even distribution of particles.
Ease in raw material availability along with high effectiveness will drive biochemical pesticides demand
Biochemical pesticides are made from are made from naturally occurring substances such as neem oil, cayenne pepper, canola oil, tea tree oil, among other compounds. These are non-toxic in nature and can create a hostile environment for pests to inhabit, thereby having a positive impact on the development and growth of treated plants.
Rapid expansion in the organic land area supported by stringent regulatory framework in Europe
Europe observes the second largest demand for biopesticides after North America. Factors such as rise in the organic farming practices supported by consumer ability to pay higher for premium organic products are driving the biopesticides market advancement in the Europe.
Organic area accounted for 7.5% of the overall EU agricultural land area in 2018. Moreover, presence of large-scale manufacturers in the region supported by favorable agricultural policies to reduce the environmental impact is anticipated to generate new growth opportunities for the manufacturers.
The global biopesticides market is at a nascent stage with increasing competitiveness owing to increasing count of regional manufacturers.
Key players in the biopesticides industry include Koppert B.V., International Panaacea Ltd, Bioworks, Stoller, BASF SE, Syngenta, Nufarm, Valent BioSciences, Futureco Bioscience, Bayer, Parry America, Inc., PT Prima Agro Tech, and Bio Huma Netics Inc. Prominent strategic adopted by key manufacturers include new product development, strategic acquisitions, and geographic expansion to gain market share.