- Spiraling demand for food and cash crops has created considerable revenues within the biopesticides market.
- Agricultural research and development is adopted as mainstream subject by many academic institutes, which create scope for market growth.
ALBANY, N.Y., Feb. 23, 2021 /PRNewswire/ -- The use of synthetic chemicals results in the contamination and pollution of the soil and it also leaves harmful effects on the entire food chain. As such, there has been increased awareness for residue-free food items, which is estimated to underscore the significance of biological items. This factor is likely to bolster growth of the global biopesticides market. Biopesticides refer to a type of pesticide that is extracted from various microorganisms, such as virus, bacteria, fungi or from any other natural substances such as plants. Plant-incorporated protectants, microbial pesticides, and biochemical pesticides are some of the various types of biopesticides. These pesticides occur naturally and are non-toxic compounds.
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The acreage utilized for the cultivation of organic vegetables and fruits is expanding. Farmers are making use of biopesticides in these lands in an effort to meet up with the standards as prescribed by international exports. Government agencies are making increased efforts to fight off the adverse effects of synthetic pesticides. There is an increased focus on the utilization of integrated pest management by government bodies. This factor is likely to trigger growth of the global biopesticides market over forecast period, from 2019 to 2027.
Based on the growing awareness about the benefits ofbiopesticides, the global biopesticides marketis anticipated to clock a growth rate of ~14.2% CAGR over the forecast tenure, from 2019 to 2027.The total value of the global biopesticides market is slated to reach US$ 6.8 Bn by the end of 2027.
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Key Findings of Biopesticides Market Study
Academic Institutes Integrating Agriculture as Mainstream Course to Boost Demand
Many research centers and universities are offering courses, both full time and part time, in agricultural research and development. Availability of these courses is likely to create plenty of opportunities for growth of the global biopesticides market over the forecast timeline, from 2019 to 2027.Augmented investment in agriculture-related research has encouraged various academic institutions to take up farming as a mainstream subject. The natural ability of enhancing the fertility of soil together with non-toxic action of biopesticides is likely to boost their sale across the globe. In addition, the rising demand for plant origins and genetics is likely to play an important role in strengthening the efforts of agricultural fraternity.
In addition to that, there is a need to control weeds and various futile materials found across the fields, which is likely to create substantial growth opportunities for the global biopesticides market on the years to come. Presence of different types of fungi capable of killing insects can increase agricultural yield of the land utilizing biopesticides.
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Rise in Demand for Microbial Pesticides to Open Bolster Market Growth
There has been huge demand for microbial pesticides across different farming longitudes. These pesticides come with the advantage of enhancing the fertility of soil and they have become a subject of research and analysis amongst researchers. The origin of biopesticides has always remained a subject of constant analysis. Bacteria, fungi, and virus are the sources of its origin. These microorganisms assist in the maintenance of crops' health. Progress made in the field of microbiology has gathered considerable attention, which is likely to work in favor of the global biopesticides market. Inventions made in the field of microbiology lay the foundation of agricultural development of the future.
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Biopesticides Market: Key Driving Factors
- Constant rise in the population has resulted in the increased demand for food crops, especially vegetables, fruits, and grains worldwide. This factor is likely to call for effective and efficient use of agrochemicals.
- Use of bioherbicides leads remarkable weed control results, especially on vegetables, fruits, and grains. Shifting consumer preference is likely to generate demand for organic food products.
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