The global biopesticides market size is expected to reach USD 17.47 billion by 2030, according to a new study by Polaris Market Research. The report “Biopesticides Market Share, Size, Trends, Industry Analysis Report, By Type (Bio-fungicides, Bioinsecticides, Bioherbicides, and Others); By Source; By Formulation; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Continuous rise in organic land and growing adoption of the latest and advanced farming technologies around the globe to reduce social and environmental concerns is likely to be the key driving factor for the growth of the global market during the forecast period. Moreover, biopesticides in sustainable farming offer various economically viable and innovative growth opportunities for consumers, laborers, and farmers, which is further projected to contribute significantly to the growth and demand of the global market over the coming years.
Furthermore, several government bodies have simplified the requirement of the registration process for manufacturing biopesticides. The growing grants for research & development and the setup of new production units are propelling the global market growth significantly. For instance, in May 2020, the European Union proposed a new plan to reduce and minimize the usage of nearly 505 chemical pesticides in the coming years and expand the usage of biopesticides, which is anticipated to boost the market growth in the European Union.
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An increasing number of innovations and the rising development of biopesticides in the agricultural sector offer lucrative growth opportunities for the global market over the forecast period. Additionally, biopesticide ingredients can be easily adopted in various integrated pest management programs and enhance performance efficiency against a large range of pathogens and pests.
According to the Research Institute of Organic Agriculture, in India, the total organic cultivation area was about 1.8 million hectares, which increased to 2.7 million hectares in 2020. And according to the Indian Government, the organic farming area covered across the country under the National Programme of Organic Production, Paramparagat Krishi Vikas Yojana, and other schemes are around 23.02 lakh hectares.
Biopesticides Market Report Highlights
- Bio-fungicides segment held the largest market share in 2021 due to the rising number of stringent government regulations and limitations on using chemical and synthetic-based ingredients.
- Microbials accounted for a major market share and are anticipated to continue their dominance throughout the forecast period, and that is attributed to their lower production cost and longer lifecycle as compared to others.
- Liquid formulation segment is projected to hold a significant growth rate over the forecast period owing to its convenient use, high effect on crop growth, and rising adoption among farmers globally.
- Asia Pacific region is anticipated to grow at the fastest CAGR during the projected period due to rising consumer awareness, shifting consumer preferences towards organic products, and increased government initiatives on promoting natural pesticides.
- The global market is highly fragmented, with many large key market players operating all across the globe, including BASF SE, FMC Corporation, Syngenta AG, Valent Biosciences LLC, and others.
Polaris Market Research has segmented the biopesticides market report based on type, source, formulation, and region:
Biopesticides, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Biopesticides, Source Outlook (Revenue – USD Billion, 2018 – 2030)
- Beneficial Insects
Biopesticides, Formulation Outlook (Revenue – USD Billion, 2018 – 2030)
- Liquid Formulation
- Solid Formulation
Biopesticides, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa