Bio Pesticides Market to Grow with a CAGR of 11.54% through 2028
Rising costs associated with synthetic pesticides and
improvement in integrated pest management (IPM) practices is expected to drive
the Global Bio Pesticides Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Bio
Pesticides Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Bio Pesticides Market stood
at USD 6.55 Billion
in
2022 and is anticipated to grow with a CAGR of 11.54% in the forecast period, 2024-2028. The
key drivers of the Global Bio Pesticides Market are rooted in an increasing
global demand for organic food, enhanced awareness about environmental safety,
and the harmful effects of chemical pesticides. Technological advancements in
biopesticide development, along with favorable government initiatives promoting
their use, further propel market growth.
Additionally, the emergence of Integrated Pest
Management (IPM) techniques, which incorporate biopesticides as a key
component, are also contributing to the expansion of this market.
The global biopesticides market is poised for
significant growth driven by several key factors. The mounting concern
regarding the detrimental impact of chemical pesticides on human health and the
environment is propelling the shift towards biopesticides. These biologically
derived agents from microorganisms, plants, or minerals offer safer and environmentally
friendly alternatives to traditional synthetic pesticides.
The increasing demand for organic food products is
fueling the biopesticides market. As more and more consumers prioritize health,
sustainability, and environmental consciousness, the popularity of organic
farming practices relying on biopesticides is gaining momentum. With a growing
emphasis on the importance of consuming organic food, the sales of organic food
have witnessed a consistent increase over the years. In addition to the
consumer-driven demand, regulatory bodies worldwide are also taking proactive
measures to encourage the adoption of biopesticides. Stringent rules governing
the use of chemical pesticides are being implemented, further reinforcing the
shift towards biopesticides. For instance, the European Union has banned
numerous synthetic pesticides, demonstrating a commitment to safeguard the
environment and biodiversity. This convergence of consumer preferences and
regulatory support is creating a favorable environment for the growth of the
biopesticides market. As the demand for organic food continues to rise and the
awareness of the harmful effects of chemical pesticides increases, the adoption
of biopesticides is expected to expand even further, ensuring a sustainable and
eco-friendly approach to pest management in agriculture. However, challenges
persist in the global biopesticides market. High product development costs and limited
awareness about the benefits of biopesticides in some developing regions can
potentially impede market growth. Efforts to raise awareness and educate
farmers about the advantages of biopesticides will be crucial in overcoming
these challenges.
Current trends and market dynamics indicate promising
growth prospects for the global biopesticides market. Technological
advancements, policy support, and increased awareness of environmental and
health safety are expected to drive the market towards new opportunities and
success in the coming years. Continuous research and development in the field
of biopesticides will lead to innovative solutions and improved formulations,
tailored to the specific requirements of different crops and regions. These advancements
will further enhance the adoption of biopesticides and contribute to the
overall market growth.
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The Global Bio Pesticides Market is segmented into
type, crop type, application, formulation, regional distribution, and company
Based on crop type, in the thriving global
biopesticides market, horticultural crops have emerged as the dominant force,
accounting for a significant share. This can be attributed to the escalating
demand for organic fruits and vegetables, driven by health-conscious consumers
who prioritize their well-being. Moreover, the growing awareness of sustainable
farming practices has further fueled this trend. Farmers and growers,
recognizing the detrimental effects of conventional chemical pesticides, are
increasingly adopting biopesticides in horticulture. These biopesticides
provide an effective and environmentally-friendly alternative, ensuring the
preservation of soil health and biodiversity. This shift towards biopesticides
in horticulture not only contributes to the overall market growth but also
plays a crucial role in promoting sustainable agriculture practices worldwide,
fostering a greener and more sustainable future for generations to come.
Based on region, the North American region is at the
forefront of the global biopesticide market, primarily driven by the growing
awareness of the detrimental impact of chemical pesticides on the environment
and human health. This increased awareness has led to a shift towards more
sustainable and eco-friendly alternatives, such as biopesticides. One of the key factors contributing to the
growth of the biopesticide market in North America is the strong government
support and stringent regulations against the use of chemical pesticides. These
measures have encouraged the adoption of biopesticides, as they are considered
safer and pose fewer risks to the environment and human health.
Moreover, the United States, being a key player in the
North American market, is home to several prominent biopesticide manufacturers.
These manufacturers have been instrumental in driving the market expansion
through their continuous research and development efforts, as well as their
commitment to producing high-quality biopesticide products. Another significant
factor driving the dominance of the biopesticide market in North America is the
increasing demand for organic food products. As consumers become more conscious
of the importance of healthy and sustainable food choices, the demand for
organic food has been on the rise. This, in turn, has necessitated the use of
biopesticides in organic farming practices, further boosting the market growth.
The North American biopesticide market is experiencing remarkable growth due to
multiple factors, including the increasing awareness of the harmful effects of
chemical pesticides, government support, the presence of key players, and the
rising demand for organic food products.
Major companies operating in Global Bio
Pesticides Market are:
- BASF SE
- Bayer AG
- Biobest Group NV
- Certis USA L.L.C
- Novozymes A/S
- Marrone Bio innovations
- Syngenta AG
- Som Phytopharma India Ltd
- Valent Biosciences LLC
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“The future of the Global Bio Pesticides Market looks
promising. This positive outlook is fueled by a growing awareness of health and
environmental safety, along with supportive governmental regulations favoring
the use of bio-based pesticides. As a sustainable and eco-friendly alternative
to synthetic pesticides, the demand for bio pesticides is expected to
experience significant growth in the coming years. Moreover, the market
expansion is expected to be further propelled by advancements in bio-pesticide production
technologies. These advancements will enable the development of more efficient
and effective bio pesticides, meeting the evolving needs of farmers and
consumers alike. Additionally, the increasing adoption of organic farming
practices worldwide is set to drive the demand for bio pesticides, as they
align perfectly with the principles of organic agriculture. The Global Bio
Pesticides Market is poised for substantial growth, driven by multiple factors
such as increasing awareness, regulatory support, technological advancements,
and the global shift towards organic farming. This presents a promising
opportunity for businesses involved in the production and distribution of bio
pesticides to thrive in the market and contribute to a healthier and more
sustainable future for agriculture.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Bio Pesticides Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented By Type (Bio fungicides, Bioherbicides,
Bioinsecticides), By Crop Type (Cash Crops, Horticultural Crops, Row Crops), By
Application (Foliar spray, Soil treatment, Seed treatment), By Formulation
(Dry, Liquid), By
Region and Competition”, has evaluated
the future growth potential of Global Bio Pesticides Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Bio Pesticides Market.
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