The global market for biopesticides was valued at $2.78 Billion in 2016 and is estimated to reach $ 6.55 Billion by 2022, at a CAGR of 15.34% for the forecasted period.
Biopesticides products include naturally-occurring substances like biochemical pesticides (that control pests), microbial pesticides (microorganisms managing pests), and pesticide related substances produced by plants which are eco-friendly and easy to use. These being the key components of integrated pest management (IPM) programs, are thus receiving much practical attention to lessen the usage of the synthetic chemical products which are as well being utilized to control plant diseases.
North America leads this market in 2016. On the other hand, Europe is expected to be the fastest growing market during the forecasted period owing to severe policies and regulations on pesticides and increasing demand for organic related products. Asia Pacific is expected to be one of the prospective markets for biopesticides growth as accounts around 30% total land available on earth and 60% of total world population.
Growth of biopesticides is expected to be more than that of chemical pesticides, with CAGR of more than 15% for the forecasted period. Field crops and oilseed crops are the rising crop segments in the industry owing to the increasing oil prices and tremendous growth in population. Also, the exceedingly high costs associated with developing synthetic crop protection chemistries are another driver for biopesticide development.
Regulatory pressures are one of the strongest single drivers for biopesticide development. The European ban on neonicotinoid pesticides from 2013 to 2015 may well drive many of the region's growers to seek biopesticide alternatives for protecting their crops. Chemical companies and Pharmaceutical companies with fermentation capacity and expertise will enter the space to increase the profitability of otherwise underutilized fermentation capacity.
Key Topics Covered:
1. Research Methodology
2. Market Overview
Bio pesticides - Segmentation
Power of Suppliers
Power of Consumers
Threat from new entrants
Threat from subsititutes
Rivalry in the industry
3. Market Dynamics
Demand for Organic food
Government promoting the industry
Regulatory issues - ban
Adaptability of farmers
5. Bio Pesticides Market Segmentation, Forecasts and Trends - by Revenue