United States Biopesticides Market - Growth, Trends and Forecasts (2020 - 2025)
The United States biopesticide market is expected to register a CAGR of 12.5% during the forecast period. The market is driven by the consumer preference for organic products, simpler registration processes, an increase in pest diversity and government support. Low awareness about biopesticides and the high price of biopesticides are the key restraints of the market. Increasing acreage of organic crop cultivation would play a major role in pushing the volume consumption of biopesticides in the United States.
Key Market Trends
Increase in Organic Cultivation
The popularity of organic food has been increasing continuously in the United States because of the increase in demand for healthy food. More than 4 million acres of land is under organic cultivation in 2016 which is 11% more than the last two years. The number of certified organic farms is close to 15,000 in 2016, rising over 6 percent since 2014. As the biopesticides are widely used in organic farming, an increase in organic farming biopesticide consumption is also expected to rise in the United States.
Bioinsecticides and Biofungicides Dominates the Market
Insecticides, fungicides, herbicides, nematicides, and rodenticides are the chief products available in the biopesticide category. Out of all the above, Bioinsecticides and bio fungicides dominates the market with an estimated market share of 43% and 44% respectively in 2018. More products, Diversified products and the popularity of those products are the prime reasons for their domination in the united state's biopesticide market revenue. Bioherbicides are the next popular biopesticides with an estimated market share of 4% and all others together with 9% in the country.
The biopesticides market in the United States is highly fragmented with major players holding a very smaller share. Mergers, acquisitions, new product launches, and expansions are the key strategies adopted by these companies. The major acquisitions taking place between companies to develop biopesticides indicate that the focus on bio-based products is increasing rapidly. The players in the market are investing heavily in this market, to diversify their biological research divisions in the expanding market place. Bayer AG, Certis USA LLC, Marrone Bio Innovations and Valent BioSciences are some of the top biopesticide manufacturing companies in the United States.
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