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 market in terms of various segments.
Increasing practice of organic farming will enable growth in The Global Biopesticides Industry. Fortune Business Insights, recently published a report, titled “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 & Vegetables) and Geography Forecast till 2025.”
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 Industry. For instance, Stockton STK launched a new product, the Timorex Gold Biofungicide. Stockton have signed long term distribution agreements with various organizations for Timorex. This is anticipated to enable growth in the market. Some of the companies operating in the market are
- Bayer CropScience,
- Marrone Bioinnovations,
- Valent BioSciences,
- BioWorks Inc.,
- Stockton Ltd.
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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 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 was 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 & Vegetables
- Other Crops
In terms of source, microbial was the leading segment in the global bio pesticides market. The segment is also expected to witness impressive growth during the forecast period. Microbial-based pesticides are popular to protect crops from various plant pathogens among various cultivation environments. This is expected to propel demand in the global market.
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