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 has implemented stringent regulations to curb the consumption of chemical pesticides in order to prevent damaging environment. This is a key factor aiding the growth of the market in these regions. This is likely to enable the global biopesticides market exhibit an impressive CAGR in the coming years.
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 & 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 market. 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 global biopesticides market. Some of the companies operating in the global biopesticides market are
- Bayer CropScience,
- Marrone Bioinnovations,
- Valent BioSciences,
- BioWorks Inc.,
- Stockton Ltd.
- 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
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.