Global Bacterial Biopesticides Market - Segmented by Type, Mode of Application, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
At around 35% of the global market share, North America is the largest market for bacterial biopesticides and is expected to witness a CAGR of 15.4%. Europe is the second largest market for microbial and is expected to register at a CAGR of 15.9%. The Asia-Pacific region led by countries like India and China, is expected to witness fastest growth in terms of demand. Evolving market in the developing regions of Asia-Pacific and Latin America would provide further growth opportunity in agricultural microbial demand.
Popularity of Organic Farming Drives the Market
Organic farming represents a unique, fast-growing segment of the food industry. As is the case for any emerging technology approach, various factors alternately drive and inhibit the growth of bacterial biopesticides. Being less harmful than synthetic pesticides, microbial pesticides typically affect only the target pest and other organisms closely related to it, as against broad-spectrum conventional pesticides, which can be harmful to other organisms, such as birds, insects and mammals. Ease of handling attributes like low-to-no re-entry intervals and post-harvest intervals also drive adoption of bacterial biopesticides mainly by serving as a stark alternative to existing synthetic options and restrictions over their usage.
Vegetable Crops have the Highest Number of Applications
The fruit & vegetable segment accounted for the largest share of the crop type application of bacterial biopesticides in 2015. The major crops utilizing the agricultural land area and bacterial biopesticides, under fruits and vegetables segment, are strawberries and tomatoes. Despite holding the maximum share of the market, the fruit and vegetables segment is also growing at a great pace. The CAGR for next five years is estimated at 18.13%. However, the products are still not used widely, mostly because of the low awareness.
Major Players: BASF SE, BAYER CROPSCIENCE, DOW CHEMICAL COMPANY, CERTIS USA L.L.C, NATURAL INDUSTRIES -NOVOZYMES (UNITED STATES), BIOCARE, AND AGBITECH PTY LIMITED, among others.
Reasons to Purchase this Report
To have an understanding of the fastest growing regions in the global bacterial biopesticides market and their growth trends during the forecast period
The report outlines drives, restraints and trends that are currently affecting the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The report covers in-detail insights about the competitors overview, company share analysis
Identify the latest developments, market shares, and strategies employed by the major market players
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