Biopesticides are a type of pesticides that are derived from natural materials such as animals, plants, bacteria, and certain minerals. Biopesticides are an effective way to control or manage target pests without hampering the natural state of the environment. These pesticides are also known to not affect the good microorganisms that are beneficial for the plant growth. The global biopesticides market is anticipated to grow with a CAGR of 13.4% during the forecast period, i.e., 2021-2029. Factors such as the growing demand for organic food products worldwide, surge in organic agricultural practices, rising awareness about the benefits of biopesticides, and the stringent government regulations for the use of toxic pesticides, are some of the major factors anticipated to drive the market growth during the forecast period. Moreover, the surge in advancements in the field of agricultural science is also expected to accelerate the growth of the market in the coming years. The market, which garnered a revenue of around USD 4600 Million in the year 2020, is further expected to reach close to USD 14200 Million by the end of 2029.
The global biopesticides market is segmented by numerous segments, which include segmentation by class, species, type, formulation, mode of application, crop type, end user, and by region. The market is segmented on the basis of formulation into liquid pesticides, and dry formulation. Amongst these segments, the dry formulation segment is anticipated to grow with the highest CAGR of 14% approximately during the forecast period. Further, based on application, the market is segmented into foliar spray, dusting, soil treatment, seed treatment, and others, out of which, the foliar spray segment is anticipated to hold the largest market share and further attain a revenue of over USD 3200 Million by the end of 2029.
On the basis of geographical analysis, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in North America is anticipated to hold the largest market revenue of over USD 5400 Million by the end of 2029. Further, the market in the Asia Pacific is expected to grow with the highest CAGR of close to 15% during the forecast period.
Some of the leading market players in the global biopesticides market that are mentioned in our report are BASF SE, Bayer AG, Syngenta Group, Certis USA L.L.C., Isagro S.p.A., Andermatt Biocontrol AG, Marrone Bio Innovations, Inc., Novozymes A/S, Nufarm Limited, Biotalys NV, Terramera Inc., NewLeaf Symbiotics, Inc., Vestaron Corporation, and others.
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Companies Mentioned
- BASF SE
- Bayer AG
- Syngenta Group
- Certis USA L.L.C.
- Isagro S.p.A.
- Andermatt Biocontrol AG
- Marrone Bio Innovations Inc.
- Novozymes A/S
- Nufarm Limited
- Biotalys NV
- Terramera Inc.
- NewLeaf Symbiotics Inc.
- Vestaron Corporation
