The increasing practice of organic farming will enable growth in the global biopesticides market. Fortune Business Insights, recently published a report, titled “Biopesticides Market Size, Share and Global Trend By Product Type (Bioinsecticides, Biofungicides, Bionematicides) Source (Microbials, Biochemicals) Mode of Application (Foliar Application, Seed Treatment, Soil Treatment) Crops (Cereals, Oilseeds, Fruits and Vegetables) and Geography Forecast till 2025.”
According to the report, the global biopesticides market was worth US$ 3.36 Bn in 2017. Additionally, the global market is foreseen to progress at a remarkable CAGR of 14.93% and reach US$ 10.19 Bn by the end of 2025. The report classifies the global biopesticides market in terms of various segments.
As per the report, the biopesticides market in North America was valued at US$ 1.27 Bn in 2017. Following North America, Europe is the second-leading region in the global market. The regions are expected to continue enjoying a stronghold in the global biopesticides market through the forecast period. Governments in North America and Europe have implemented stringent regulations to curb the consumption of chemical pesticides in order to prevent a damaging the environment. This is a key factor aiding the growth of the market in these regions. This is likely to enable the global biopesticides market to exhibit an impressive CAGR in the coming years.
Increasing Consumption of Organic Food to Drive Market
Some of the factors anticipated to drive the global biopesticides market during the forecast period are rising awareness regarding the benefits of consuming organic food and intense research and development by start-ups on active ingredients of biopesticides.
As per the Research Institute of Organic Culture (a leading research and information center for organic farming) in 2015, 50.9 Mn hectares of agricultural land were used for organic farming. The rising practice of organic farming is expected to fuel the demand for biopesticides.
- Microbials (Bacteria, Fungi, and Others)
- Biochemicals (Semiochemicals, Plant Extracts, and Others)
By Mode of Application
- Foliar Application
- Seed Treatment
- Soil Treatment
- Fruits and Vegetables
- Other Crops
Stockton, Ready to Lead Global Market in Future
Key market players are emphasizing on developing new and more effective products to gain a higher share in the global biopesticides market. For instance, Stockton STK launched a new product, the Timorex Gold Biofungicide. Stockton has signed long term distribution agreements with various organizations for Timorex. This is anticipated to enable growth in the global biopesticides market. Some of the companies operating in the global biopesticides market are Bayer CropScience, BASF, DowDupont, Marrone Bio innovations, Koppert, Valent BioSciences, BioWorks Inc., Isagro, Stockton Ltd.
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