The Biopesticides Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biopesticides Global Market Report 2024, The biopesticides
market size has grown rapidly in recent years. It will grow from $6.2 billion
in 2023 to $7.4 billion in 2024 at a compound annual growth rate (CAGR) of
19.3%. The growth in the historic period can be
attributed to growth in awareness about the environmental and health impacts,
increase in government regulations, expansion of organic farming, investments
in research and development, rise in disposable income.
The biopesticides market size is expected to see rapid growth in the next few
years. It will grow to $14.46 billion in 2028 at a compound annual growth rate
(CAGR) of 18.2%. The growth in the
forecast period can be attributed to rise in agriculture sector, growing global
population, rising demand for hygiene and quality food, economic growth. Major
trends in the forecast period include precision agriculture integration,
digital technologies, market consolidation and partnerships.
The rising demand for organic food is expected to propel the growth of the
biopesticides market going forward. During the COVID-19, the demand for organic
food has increased as buyers perceived it as healthier and good for immunity.
Biopesticides are composed of toxins found in living organisms that are harmful
to pests that attack plants but have no effect on the plant itself, therefore
reducing soil pollution and erosion. As a result, biopesticides are used in
organic crop production. For instance, in 2023, according to the Organic
Industry Survey released by the Organic Trade Association, a U.S-based organization, Organic food sales
in the United States in 2022 broke through $60 billion for the first time,
hitting another high-level mark for the resilient organic sector. . Therefore,
the rising demand for organic food will drive the biopesticides market growth.
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The biopesticides market covered in this report is segmented –
1) By Type: Bioinsecticides, Biofungicides, Bionematicides, Bioherbicides,
Other Types
2) By Source: Microbials, Biochemicals, Beneficial insects
3) By Formulation: Liquid Formulation, Dry Formulation
4) By Mode Of Application: Seed TreATMent, Soil TreATMent, Foliar Spray, Other
Mode Of Applications
Technological advancement has emerged as a key trend in the biopesticides
market. Biopesticides manufacturers are developing new bacterial strains using
new technologies for biological control of pests and plant diseases. For
instance, in February 2021, Ballagro Agro Technology Ltd., a Brazil-based
agricultural company launched biopesticide Acera based on Embrapa technology.
Acera is a biopesticide formed by mixing two isolates of Bacillus thuringiensis
(BT) bacteria. Bacillus thuringiensis (BT) is a bacterial species that produce
proteins with poisonous effects for insects but not for humans or other
animals. It is not harmful to the environment, unlike chemical pesticides. The
substance must be sprayed on the leaves, and the caterpillars are influenced by
the action of such proteins when they eat them. The product will benefit crops
such as soybeans, corn, and cotton in particular.
The biopesticides market report table of
contents includes:
1. Executive Summary
2.
Biopesticides Market Characteristics
3.
Biopesticides Market Trends And Strategies
4.
Biopesticides Market - Macro Economic Scenario
5. Global
Biopesticides Market Size and Growth
.
31. Global Biopesticides Market Competitive Benchmarking
32. Global
Biopesticides Market Competitive Dashboard
33. Key
Mergers And Acquisitions In The Biopesticides Market
34.
Biopesticides Market Future Outlook and Potential Analysis
35.
Appendix
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