Global Biopesticides Market Forecast 2018-2026
Biopesticides are organic biological agents that are used to control harmful organisms, like pests and weeds. The Global biopesticides market is expected to progress at a CAGR of 15.59% for the forecast period of 2018-2026. Various reasons for the growth of the biopesticide market include the increasing demand for organic food, awareness about the harmful effect of chemical pesticides, and improvement of integrated pest management (IPM) practices.
The global biopesticides market is segmented according to ingredients, types, crop timeline, form, function, application and end-user. Ingredients can be microbial, semichemical and biorational kind of ingredients. Biopesticides types can be segmented into Biofungicides, Bionematicides and Bioinsecticides. The crop timeline could vary from permanent, seasonal to others. Form segment include liquid-based, water-dispersible or powdered form. Market by function includes induced resistance, antibiosis, parasitism and inhibitor. Applications of this market can be found for crop types and non-crop types plants whereas the end-users for this market can range from on-farm, seed treatment and post-harvest.
Market regions that are covered in the report are North America, Europe, Asia-Pacific, Latin America and RoW. North America captured the largest market share of biopesticide market in 2017. Reasons for high market share in North America are greater investment in research and development, well-established integrated pest management (IPM) and integrated crop management (ICM) programs and increase in area being allocated for organic cultivation. On the other hand, the European market is expected to exhibit the fastest growth rate over the course of the forecast period due to growing demand for organic food and strict environment regulations. Spain, Italy and France are the key biopesticide markets. Other markets like Latin America and the Asia-Pacific market are also expected to report high growth.
Established companies have a good hold on the biopesticide market due to high cost of investment needed to enter and sustain in the market. Companies are forming alliances and are going for mergers and acquisitions to strengthen their market position. Some of the leading companies include BASF Se, Avian Enterprises,Bayer Cropscience Ag, Bioworks Inc, Biotech International, Certis Usa, Exosect Ltd, Dupont,Gowan Company, Growth Products Ltd, Greeneem Agri (P) Ltd, Hebei Veyong Biochemical Company Ltd, Hercon Environmental, Isagro Spa, International Panacea Ltd, Koppert Biological Systems, Monsanto, Marrone Bio-Innovations, Mycogen Seeds, Novozymes Biologicals, Natural Industries Inc, Pest Control India, T. Stanes & Company Limited, Pj Margo,Valent Biosciences Corporation, Westbridge Agricultural Products and Verdera Oy.