The biopesticides market size is expected to reach US$ 14,000 million by 2028, registering at a CAGR of 11.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Demand for Organic Food Globally Drives Biopesticides Market
Biopesticides Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Download Free SampleBiopesticides Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Others), Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray, and Others), Crop Type (Cereals and Grains, Oilseeds and Pules, Fruits and Vegetables, and Others), , and by Geography (North America, Europe, Asia Pacific, and South and Central America)
The global organic food market continues to grow. According to the IFOAM - Organics International, in 2019, 3.1 million organic producers were reported worldwide. A total of 72.3 million hectares of farmland was organically managed at the end of 2019. This represents a growth of 1.6% or 1.1 million hectares compared to 2018. In addition, the sales of organic products have consistently increased over the last decades.
The demand for organic fruits, vegetables, and other organic food products is growing rapidly due to an increase in the number of health-conscious people, surge in the preference for healthier food products, and a rise in awareness about the health risks posed by the use of chemical pesticides. This is encouraging farmers worldwide to produce crops using organic methods. Therefore, they are shifting from harmful chemical-dependent conventional agriculture to sustainable and greener farm practices. Biopesticides are used in the organic farms as they have no side effects on beneficial plants and human health. Microbial biopesticides are proved to be efficient in achieving control against many insects, pathogens, and weeds. Therefore, the growing demand for organic food drives the biopesticides market growth.
Sustainable weed management consists of different weed management methods, including the use of biopesticide that precludes the use of chemical pesticides. The use of biopesticide is an important compoent in integrated weed management strategies to increase crop yield in organic agriculture, which is propelling the biopesticides market growth. However, many weeds showcase pesticide resistance, a major concern among farmers. Hence, market players are increasingly focusing on developing cost-effective and efficient biopesticides that can control weeds. In 2020, Seipasa—the Spanish company specialized in developing and formulating biopesticides, biostimulants, and fertilizers for agriculture—and the Technical University of Valencia (UPV) announced that they are working on the development of a new biopesticide through the Mediterranean Agroforestry Institute (IAM). The rising initiatives by major manufacturers of various countries in development of biopesticides due to higher demand is driving the biopesticides market.
BASF SE; Syngenta; Marrone Bio Innovations, Inc.; Bayer AG; and Novozymes A/S are among the key biopesticides market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the market and its ecosystem.
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