The growing demand for organic food and Government strict regulations against the excessive usage of chemical insecticides are driving the demand of the market.
Agricultural Biopesticides Market Size – USD 3.50 Billion in 2019, Growth - CAGR of 14.2%, Trends –Growing adoption of organic products.
The global Agricultural Biopesticides Market is forecast to reach USD 10.11 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the Agricultural Biopesticides Market to maintain a stable growth rate over the forecast period. The manufacturers of organic insecticides are launching new products and collaborating with prominent brands in order to strengthen the market.
Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the Agricultural Biopesticides market. Though food demand is inelastic, but there can be a change in the dietary patterns of the consumers. While the above reasons can lead to a negative impact, but the inelasticity of demand for food will significantly result in the growth of the industry. Due to the COVID-19, the manufacturers of the Agricultural Biopesticides are adopting safety regulations and strategies, which may result in the industry's growth over the forecast period.
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Top Key Players: Valent Biosciences LLC, Koppert Biological Systems, Bayer CropScience AG, Syngenta AG, Marrone Bio Innovations, Andermatt BioControl AG, Stockton BIO-AG Technologies, International Panaacea LTD, Certis USA L.L.C and BASF SE, among others.
Further key findings from the report suggest
- The Bioinsecticides segment held a significant share in the market. It is environmentally friendly and helps the crops get rid of the harmful insects and not from the beneficial insects. The growing concerns among consumers regarding the environmental hazards caused by chemical pesticides, an increasing number of resistant pests, and high chances of insect-based infections have boosted the Agricultural Biopesticides industry.
- Based on the type of crops on which the biopesticide is applied, the fruits and vegetable segment registers the highest growth capturing almost 52.6% of the market mainly due to the increasing production of fruits and vegetables globally and increasing adoption of organic farming.
- North America has the highest adoption rate in the market and has registered a revenue of about USD 1.45 billion in 2019. The easy registration process for the bioinsecticides manufacturers initiated by the EPA has resulted in the entrance of many new manufacturers in the industry. The increasing interest in green agricultural practices and the strict government actions towards excessive use of chemical insecticides have driven the growth of the industry in the region. Both Asia-Pacific and North America are expected to anticipate significant growth over the forecast period.
- The Agricultural Biopesticides market is adopting some wiser strategies in order to say competitive in between the growing demand of the product. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.
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Market Segmnetation:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Bioherbicides
- Bioinsecticides
- Biofungicides
- Bionematicides
- Others
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Fruits Vegetables
- Cereals pulses
- Grains Oilseeds
- Others
Mode of Application Outlook (Revenue, USD Billion; 2017-2027)
- Seed treatment
- Foliar spray
- Soil treatment
- Others
Source Outlook (Revenue, USD Billion; 2017-2027)
- Biochemical
- Microbial
- Beneficial Insects
- Others
Formulation Channel Outlook (Revenue, USD Billion; 2017-2027)
- Liquid Formulation
- Dry Formulation
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Agricultural Biopesticides Market report:
- What is the expected market size of the global Agricultural BiopesticidesMarket during the forecast period?
- What factors are expected to hamper global Agricultural Biopesticides Market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Agricultural Biopesticides Market?
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