Biopesticides Market

Biopesticides Market is Expected to Gain Momentum with Rising Organic Farming Practices

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Biopesticides are certain types of pesticides derived from such natural materials as animals, plants, bacteria, and certain minerals. Biopesticides are regarded as environment-friendly and are being increasingly used as an alternative to chemical pesticides. Some key types of biopesticides include biochemical pesticides, microbial pesticides, and plant-incorporated protectants (PIPs). Biochemical pesticides include substances that occur naturally in plants, animals, bacteria, and minerals. Microbial pesticides contain microorganisms like bacteria, fungi, virus, and protozoa as the active ingredient. PIPs feature genetic material from other species incorporated into a plant’s genetic makeup that enables the plant itself to resist pest attacks. With the growing environmental and health concerns over chemical pesticides, biopesticides are finding broader acceptance among farmers worldwide for applications in crop protection and yield enhancement.

The global biopesticides market is estimated to be valued at US$6.2 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Growing Demand for Organic Farming: Rising consumer preference for chemical-residue free food is boosting organic farming practices globally. As organic agriculture requires low input systems and excludes the use of chemical fertilizers and pesticides, the demand for biopesticides is surging among organic farmers as an ecological alternative for crop protection. Further, supportive government policies and programs in regions like North America and Europe to promote sustainable agriculture are creating a conducive environment for biopesticides market growth.

Environmental Friendliness Drives Adoption: Biopesticides are preferred over chemical pesticides since they pose minimal risk to human health and the environment. They are derived from natural materials and break down quickly, thus avoiding long-term residues. Their selective action targets specific pests and causes less harm to beneficial species such as bees and natural enemies of pests. This eco-friendly attribute along with high degradability is increasing biopesticides acceptance worldwide especially in developing regions.

Segment Analysis

The biopesticides market can be segmented into bioinsecticides, bioherbicides, bionematicides, and biofungicides. Among these, the bioinsecticides segment holds the largest share of more than 40% in the overall market. This is mainly because bioinsecticides are less toxic than chemical pesticides and have negligible effects on non-target organisms. They are very effective against sucking and chewing pests in a variety of crops.

PEST Analysis

Political: Many governments across the globe are promoting the use of organic and environment-friendly farming practices. They are imposing stricter regulations on the use of chemical pesticides due to health and environmental hazards. This is positively impacting the demand for biopesticides.

Economic: Biopesticides help farmers reduce production costs as they do not require expensive application equipment like aerial spraying. They also minimize impact on non-target organisms, thereby protecting biodiversity and boosting farm output. Overall crop protection solutions are also more cost-effective with biopesticides.

Social: Consumers are increasingly demanding food products that are chemical-residue free and environmentally sustainable. There is rising health consciousness among people regarding toxic effects of agricultural chemicals. This consumer preference for organic foods is propelling the biopesticides industry.

Technological: Companies are investing in R&D to develop new biopesticide formulations with targeted effectiveness against particular pests. Some players are focusing on integrated pest management by combining biological and other organic solutions. Advancements in fermentation and formulation technologies are further expanding the biopesticides market.

Key Takeaways

The Global Biopesticides Market Share is expected to witness high growth. The global biopesticides market is estimated to be valued at US$6.2 billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030.

North America currently dominates the market due to extensive cultivable land and widespread adoption of integrated pest management practices. However, Asia Pacific is emerging as the fastest growing regional market with countries like India and China incentivizing organic farming.

Key players operating in the biopesticides market are Jansen Poultry Equipment, Petersime NV, Vencomatic Group, Big Dutchman International GmbH, Valco Companies, Inc., TEXHA PA LLC, Hartmann Lebensmitteltechnik Anlagenbau GmbH, and HAMEX-GROUP. With sustainable agriculture gaining prominence, these companies are developing novel biocontrol agents and innovative delivery mechanisms.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it 
Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.