North America Biopesticides Market - Industry Growth, Trends and Forecasts (2018 - 2023)
North America Biopesticides Market Insights
Worldwide, the pesticides industry has been witnessing a relatively steady growth, which has been primarily attributed to advancements in the Biopesticides industry. The North America biopesticide market was valued at USD 1159.66 million in 2017, and is expected to reach USD 2304.2 million by 2023, witnessing a CAGR of 12.35% during the forecast period of 2018-2023. The US has the largest share with 80% of the market share in North America and Mexico is the fastest growing market with 16.4% CAGR during 2018-2023.
The worldwide trend of maintaining sustainability in human, animal and environmental heath by minimizing the use of chemical pesticides is evident in the largest global market, too. The North America market for Biopesticides is largely driven by simple registration process, consumers growing preference for organic products and growing consumer awareness on the ill effects of synthetic pesticides on human health. The market however is mainly constrained by the growers low awareness on the use of bio control agents and availability of the products. Also low shelf life of products results in farmer’s frequent application of Biopesticides thus resulting in increased costs. The North America region with the introduction of NAFTA has reduced the trade tussles between the member countries. However, there is still a product price gap between the US and Canadian region; increasing cost for the Canadian and Mexico growers.
The United States forms the largest Biopesticides market in North America, and Canadian demand is likely to register faster growth over the 2018-2023 period. Crop-based applications accounts for the largest share of Biopesticides in the region. The US is the biggest user of Biopesticides in the region , followed by Mexico and, then, Canada, where there is less prevalence of pests. Canada which has low user base for bioinsecticides and biofungicides is seeing prospects for growth mainly due government encouragement and synthetic pesticide bans.
The report is segmented based on types which include bioherbicides, bioinsectcides, biofungicides. These find applications in crops like cereals & Grains, oilseeds, fruits and vegetables and non crop based applications like turf & ornamental grass. Grains & Cereals take up the larger share of Biopesticides use.
Key Industry Players
The leading players in the market are Certis USA LlC, Marrone BioInnovations, and Bayer crop science among others. The key strategies being adopted in the market are of Mergers & Acquisitions.
In this report we offer,
Market Definition for the specified topic along with identification of key drivers and restraints for the market.
Market analysis for the North America Biopesticides market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising opportunities and global consumer trends.
Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
Identification and analysis of the Macro and Micro factors that affect the North America Biopesticides market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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