Biopesticides Market – Increasing Consumer Demand for Organic Food is expected to Drive Market Growth – Growing at a CAGR (Compound Annual Growth Rate) 15.3% from 2022 to 2028
As stated in our extensive report; the Global Biopesticides Market accounted for USD 5.2 Billion in 2021.
Implementing sustainable farming and agricultural practices to influence productivity and yield, especially in food crops, is gradually elevating the Biopesticides market viewpoint.
Biopesticides are naturally derived pesticides from plants, animals, bacteria, and minerals. They are also known as biological pesticides. Some of the most commonly utilized Biopesticides products include bio fungicides, bioherbicides, and bioinsecticides. They help to control the growth of insects, weeds, and pests on crops and are usually used with the help of a foliar spray or directly added into the soil for crop treatment.
Biopesticides usually have unique modes of action and are regarded as reduced-risk pesticides. Compared to the traditionally used synthetic pesticides, Biopesticides leave little or no toxic residue, providing long-term control of pests, and are highly efficient even when applied in smaller quantities.
● The increase in agricultural development in
regions such as India, Indonesia, Vietnam, Malaysia, and Africa is a crucial
aspect propelling industry sales. Biopesticides are highly valuable for
ecological and environmental balance in crop protection.
● Also, technological advancement through systematic and extensive research has influenced market penetration positively.
● The increasing consumer awareness of the harmful effects and health issues like allergies, respiratory problems, neurological damage, and many others related to consuming food with pesticides will boost global Biopesticides production.
● The favorable government initiatives across the globe to promote bioproducts are expediting the Biopesticides demand.
However, the stringent regulations to reduce the pesticide residue in food products will create opportunities for the Biopesticides manufacturers in the future.
North America holds the largest share in the Biopesticides market and is anticipated to continue this trend during the forecast period. The increasing awareness regarding the harmful effects of chemical-based agro products and the rising demand for organic food are significant factors driving the Biopesticides market region.
In addition, the U.S. Biopesticides market is one of the leading countries for the export of different fruits and vegetables. Moreover, the expanding consumer demand for organic food and concerns about food residue levels are expected to fuel the market revenue growth during the forecast period. Besides, the presence of various Biopesticides manufacturers in this region is resultant in investments and research on biological crop protection products, which will support the market growth in North America.
As per Vantage, the expanding consumer inclination towards natural & organic food products because of the ongoing trend of a healthy lifestyle has positively impacted the Biopesticides industry as naturally derived pesticides occur from plants, animals, bacteria, and minerals.
Notable and prominent players in the Global Biopesticides Market include- Certis USA LLC, Syngenta International AG, Nufarm Ltd, Bayer AG, Novozymes A/S, Gujarat State Fertilizers & Chemicals Ltd., FMC Corporation, Agri Life, Symborg S.L., Biotech International Limited, T. Stanes & Company Limited, Summit Chemical Inc., BioSafe Systems LLC and others.