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Key Findings
The Global biopesticides market generated revenue of $2690 Million in 2016 and is anticipated to contribute $15122 Million by 2025, growing at a CAGR of 21.2%. Various reasons for growth of the biopesticide market are increasing demand for organic food, awareness about harmful effect of chemical pesticides, novel products, easy decomposability and advent of new kind of pests.
Biopesticides are organic biological agents that are used to control harmful organisms, like pests and weeds. Bioinsectides are organic formulations that are used for management of insects that attack crops. Biofungicides are formulations of microorganisms, mostly bacteria and fungi that are used to control plant pathogens. Bionematicide is a formulation of bacteria and fungi that is used to manage crop infestation by nematodes.
Biopesticides are very specific in nature in that they have high host specificity and are biodegradable. These are required in very small quantities and offer less exposure and decompose quickly without leaving too much of a trace and allow field re-entry almost immediately after application.
Biopesticide market is segmented on the basis of geography, product type, crop, application and ingredient. On the basis of product type, biopesticides are classified as bioherbicide, bioinsecticide, bionematicide and biofungicide. On the basis of active ingredient, they can be microbial pesticides, plants pesticides and biochemical pesticides. Classification on basis of crop type is permanent crops, arable crops and others that include forage grass and turf grass. When classified on the basis of application it is seed treatment, soil treatment and post harvest application.
Market Insights
Market drivers for biopesticides are need for environment friendly pesticides, growth in demand for organic food, awareness about chemical pesticides after effects, stringent environment regulations, quick decomposition and advent of new kind of pests.
On the basis of active ingredients, microbial pesticides are most popular and have the highest market share and will continue to grow in the forecast period. Microbial pesticides are most popular due to their high effectiveness. Biopesticide for permanent crops has the highest market share and it is expected to grow at a healthy CAGR in the forecast period.
Factors that will restrain market growth are knowledge and understanding required for application of biopesticides, lack of awareness and time taken for these biopesticides to be effective.
Figure: Global Biopesticide Market by Geography (%) in 2017
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Regional Insights
Market regions that are covered in the report are North America, Europe, Asia-Pacific and RoW. North America has the largest market share of biopesticide market. 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. European market is expected to continue growing at a healthy rate due to growing demand for organic food and strict environment regulations. Spain, Italy and France are the key biopesticide markets.
Asia-Pacific market is expected to report highest growth in the years 2017-2023. Increasing demand for food, government initiatives to educate farmers and agriculturists, growing population and rising health awareness will also lead to market growth in this region.
Competitive Insights
The major market players for biopesticide are Bayers Crop Science Ag, BASF SE, Monsanto Company, Marrone Bio Innovations Inc., Valent Biosciences, Biowork Inc., Camson Biotechnologies, The Dow Chemical Company and IsagroS.p.A. 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. Organizations are investing in research and development to come up with novel and innovative products that will capture new market share.