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BIOPESTICIDES MARKET

The global biopesticides market size is expected to witness potential gains in the future, and register a significant CAGR of 15.92% over the forecast period (2019 - 2027). The market was valued at US$ 2.9 billion in 2018, and is expected to reach US$ 6.5 billion by 2027.

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BIOPESTICIDES MARKET

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. BIOPESTICIDES MARKET The global biopesticides market size is expected to witness potential gains in the future, and register a significant CAGR of 15.92% over the forecast period (2019 - 2027). The market was valued at US$ 2.9 billion in 2018, and is expected to reach US$ 6.5 billion by 2027. Market Overview Biopesticides are derived from natural materials such as plants, bacteria, fungi, and virus. There are three major types of biopesticides: biochemical pesticides, microbial pesticides, and plant-incorporated-protectants (PIPs). Biopesticides are used in organic farming, eco-friendly pest management, controlling pant diseases, seed treatment, and soil amendments. Mass production of biopesticides can be achieved by developing carrier based formulation by the use of native strains of Trichoderma and biofertilizers. Bacillus thuringiensis can also be used to produce biopesticides. Materials of plant origin can also be used in biopesticide production such as legumes, cereals, plant extracts, tubers, yeast powder, and fodder yeast.

  3. Market Dynamics Considerable pressure on farmers to reduce or eliminate the use of pesticides in crop production systems, owing to the effects of pesticide residues on human health and on the environment is a major factor boosting growth of the market.  Moreover, several government organizations are focused on development of ‘safer pesticides’ such as the Environmental Protection Agency (EPA). The current EPA policy is to facilitate the testing and registration of pesticides which have ‘reduced risks’. Such initiatives may have significant Impact on market size over the forecast period. However, biopesticides have high specificity, which means that certain biopesticides may only be effective on certain pests. This in turn may require use of multiple products, which may not be commercially viable. Moreover, biopesticides are often slow in action against pest, which may not be appropriate in case of a pest outbreak on a crop. The possibility of a target pest/disease developing resistance or tolerance is low can also adversely affect the market size. However, adoption of an anti-resistance strategy may help in mitigating the issue.

  4. Market Outlook North America is expected to be the largest market followed by Europe in the global biopesticides market. This is due to stringent regulations against the use of chemical pesticides that eventually promote the use of biopesticides in the region.  Key Players Some of the major players operating in the global biopesticides market include, Valent BioSciences Corporation, Certis (US), Marrone Bio Innovations, Bioworks, FMC Corporation, Stockton Group, UPL, Bayer CropScience, BASF, Syngenta, Isagro, and Koppert.         

  5. Key Developments: • In January 2020, Marrone Bio Innovations, a US-based manufacturer of fungicides, insecticides and other products for agricultural, water treatment, and turf applications has announced that two of its biofungicide products, namely – Regalia and Stargus have been approved by the US Environmental Protection Agency (EPA) for outdoor and indoor application on help plants. • In April 2019, Bionema Limited, a UK-based biopesticides manufacturer has completed £180,000 of equity investment for the innovation and development of biopesticides for agricultural & associated applications. • In February 2019, Marrone Bio Innovations was approved its MBI-110 Bacillus strain, a product that can cover a wide range of fungal diseases. This new strain has been currently undergoing testing and would use as an active ingredient in the company’s Stargus and Amplitude fungicides. • In Dec 2018, the Aga Khan Foundation had launched a biopesticides production plot in the Nimar district of Madhya Pradesh, India. The main objective is to construct two production units for 2000 marginalized farmers.

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