Biopesticides Market: Global Industry Trends and Growth Overview
Biopesticides are useful to control agricultural pests and protect crops. These are generally used to control harmful organisms, insects, and bacterial and fungal growth on crops. The main types of biopesticides include
- bioinsecticides
- Biofungicides
- bioherbicides
- Bionematicides
The use of biopesticides can be useful to avoid harmful effects on the environment caused by the use of chemical pesticide residues. The advantages of biopesticides over toxic chemical pesticides are opening up new growth opportunities for the biopesticides market.
The growing demand for organic products from the world market and the increase in consumption of organic foods is driving the market for biopesticides. The governments of different countries are promoting the use of biopesticides due to their low toxicity, high efficiency in pest control and safety. The biopesticides market is experiencing increased demand from growing economies, as these products are environmentally friendly and do not contain chemical residues. However, this market is witnessing strong competition from the well-established crop protection chemical industry, variable efficiencies of biopesticides, and lack of awareness about the use and benefits of biopesticides.
Field crops and oilseed crops are expected to be the emerging crop segments for the biopesticides industry as a result of increasing oil processing and population growth. Biopesticides are proving to be an important and effective solution to control the maximum level of residues in export crops.
The global market for biopesticides is forecast to increase from $1.32 billion to $3.22 billion during the period 2011-2017 at a compound annual growth rate of 15.85%. North America is the largest market for biopesticides, accounting for about 40.5% of global demand. Europe is the fastest growing segment of this market with increasing use of biopesticides as a result of strict government-imposed regulations against the use of harmful pesticides and the growing demand for organic products.
Manufacturers are focusing on the development of efficiency-enhanced biopesticides, targeting the Asia-Pacific and European markets to gain maximum market share and improve profitability. These products are generally used in organic agriculture and crops with high export potential for barrier-free trade. Therefore, market players have begun to emphasize the development of innovative product registers and differentiation through modernism.
Major market players involved in biopesticide manufacturing include AgraQuest Inc. (USA), Marrone Bio Innovations Inc. (USA), Certis USA LLC (USA), Koppert Biological Systems (Netherlands ), Natural Industries Inc. (USA) and others.
The largest number of patents are filed in Europe, followed by North America. Agreements and collaborations have become the preferred development strategy in recent years in the global biopesticides market. Major companies are focusing on acquisitions and new product launches as a growth strategy.
Biopesticides are the best alternatives to chemical pesticides and have experienced double-digit growth in recent years globally. Considering the dangerous impact on the environment with the use of chemical pesticides, many global players are actively involved in the development and promotion of biopesticides.