Global Biopesticides Market is estimated to reach $4 billion by 2024; growing at a CAGR of 8.8% between 2016 and 2024. Biopesticides are a type of pesticide, which contain active ingredient, derived from natural materials such as bacteria, fungi and virus or substance produced by plants which contains genetic material or Plant-Incorporated Protectants (PIPs). Biopesticides are usually less toxic as compared to conventional pesticides. At present, Bacillus thuringiensis (Bt) is most widely used insecticide which is useful for pest control. They target only the specific and affect only the target pest with regards to a broad spectrum. In U.S., before a pesticide can be marketed, The Federal Insecticide, Fungicide and Rodenticide Act (FIFRA), requires that United States Environmental Protection Agency (EPA) evaluate the proposed pesticide to assure that its use will not pose risk of harm to human health and the environment.
Increased knowledge among the end-users and advancements in biotechnology and bio-pesticide technology are the major factors supporting the growth of global biopesticides market. Moreover, encouragement for organic farming from various government organizations rising and R&D for advanced farming innovations also fuel the growth of the market. However, negative perception and low availability along with low shelf-life of biopesticides may hinder the growth of the market. Furthermore, emerging technologies that world replace the traditional methods would provide opportunity in upcoming years.
The biopesticides market is segmented based on the product type, active ingredient type, crop type, application and geography. By product type, it is further segmented into bioinsecticides, biofungicide, bionematics and bioherbicide. Active ingredient type can be further segmented into microbial pesticides, plant-based pesticides and biochemical pesticides. Crop type is segmented into permanent crops, arable crops and others. Furthermore, applications are segmented into seed treatment application, on-farm application and post-harvest.
By geography the market is segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Spain and others. Asia-Pacific covers China, India, Japan and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Bayer CropScience Ag, GreeNeem, Sibbiopharm Ltd., Isagro SpA, BioWorks, Inc, San Jacinto Environmental Supplies, Troy Biosciences, Inc., Syngenta Bioline Ltd. Dow AgroSciences LLC and AgBiTech Pty Ltd.
The key takeaways from the report
* The report will provide detailed analysis of Biopesticides Market with respect to major segments such as product type, active ingredient type, crop type and application
• The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
• Comprehensive analysis of market dynamics including factors and opportunities is included in the report
• An exhaustive regional analysis of Biopesticides Market will be provided in the report
• Profile of the key players in the Biopesticides Market, which include key financials, product & services, new developments and business strategies
Related Reports: Biopesticides Market Research Reports