Science and Technology

Soaring Growth Forecasted for Global Biopesticides Market

NEW YORK, March 8, 2024 /PRNewswire/ -- The booming global biopesticides market is slated for significant expansion, with predictions estimating an impressive increment by USD 5.66 billion from 2022 to 2027. This market's projected growth trajectory charts a compound annual growth rate (CAGR) of 16.27% over the forecast period. A notable factor propelling this growth is the increasing demand for organic products, which serve as a cornerstone for organic pesticides. Derived from natural sources such as animals, bacteria, minerals, and plants, organic pesticides starkly contrast synthetic pesticides, which are artificially created, comprising various chemicals and potentially harmful components.

Organic food, produced using renewable resources, stands out for its minimal usage of detrimental pesticides and chemicals, a factor that contributes significantly to environmental sustainability. Moreover, organic farming tends to be associated with smaller, family-owned farms with a dedicated emphasis on maintaining the quality of soil and water. This commitment not only fosters fertile lands for contemporary use but also safeguards these precious resources for future generations. Such decisive factors are key contributors to the market’s expected robust growth during the forthcoming forecast period.

For an insightful glimpse into both historical (2017 to 2021) and anticipated market sizes (2023 to 2027), interested parties are encouraged to explore the following report sample.

Market Structure and Regional Analysis

This comprehensive report spans 180 pages and commences its analysis starting from the base year of 2022, providing an in-depth consideration of historic trends spanning 2017 - 2021 and extending forecasts for 2023-2027. Within this period, the market is anticipated to accelerate at an impressive CAGR of 16.27%. The surge in market growth from 2023 to 2027 is projected to reach a striking USD 5.66 billion. Notably characterized as fragmented, the market’s year-over-year growth from 2022 to 2023 is pegged at 13.98%.

In terms of regional analysis, the global biopesticides market encompasses North America, Europe, APAC, South America, and the Middle East and Africa. The report provides critical insights, projecting that North America will command a substantial 30% of the global market's growth during the forecast period. A host of factors, including simplified biopesticides registration processes, augmented consumer preference for organic products, and heightened awareness about the adverse effects of synthetic pesticides on health, contribute to the dominance of this region. Specifically, in 2020, the US and Canada were predominant players, thus indicating a continued trajectory of growth through the forecast period.

Segment Overview and Geography Overview

The extensive market segmentation covered in the report includes type (bioherbicides, biofungicides, bioinsecticides, bionematicides, and others) and product (natural products, microbial, and semiochemicals), along with a detailed geographic analysis.

The bioherbicide segment is forecasted to significantly influence overall market growth during the forecast period. As pesticides geared towards the elimination and growth inhibition of unwanted plants, bioherbicides employ microbial agents such as bacteria, fungi, and viruses. A growing emphasis on cultivating eco-friendly weed killers and their associated benefits, such as reduced chemical hazards, ease of residue management, and superior quality of crops treated with bioherbicides, is expected to drive the segment's growth through the forecast period.

Emerging Trends and Market Challenges

One of the emergent trends within the biopesticides market is the advanced development of these agricultural products. To reengineer natural microbial enemies and dissect their molecular basis for pathogenicity, research heavily utilizes molecular-based technologies. This technological dive aims to unravel the competitive interactions between weeds and crops and the mechanisms of developing herbicide resistance. Moreover, identifying receptor protein characteristics in insects that detect semiochemicals is another leap forward. Such innovative trends are amplifying growth in the market.

Despite these advancements, the biopesticides market faces the significant hurdle of insufficient awareness regarding biopesticides' application and benefits. Educating farmers and consumers on the advantages of using biopesticides is pivotal to overcoming this challenge and encouraging market growth.

Expert Analysis on Market Dynamics

Modern agriculture is witnessing a pronounced tilt towards organic solutions fueled by heightened environmental awareness and the demand for healthier dietary choices. This thrust towards sustainable farming is championed by entities like the Organic Trade Association and the Research Institute of Organic Agriculture (FiBL), which spearhead global advocacy for these practices. As conventional chemical pesticides encounter scrutiny over their deleterious effects on ecosystems and human health, biopesticides stand out as a benign alternative, earning endorsements from government organizations such as the United States Department of Agriculture and international bodies like the Agricultural and Processed Food Products Export Development Authority.

Biopesticides, especially microbial-based variants, capitalize on innate substances or organisms to manage agricultural pests, eliminating the environmental footprint associated with synthetic chemical use. These products align with increasing consumer preferences for organic produce and stringent regulations that promote sustainable agricultural methodologies.

Microbial-based biopesticides are especially notable for their efficacy and diversified modes of action, which mitigate the risk of pest resistance. As such, these solutions are progressively being integrated into pest management strategies by farmers, further supporting the market's growth.

Apart from the obvious environmental boons, biopesticides also present agrarian economic benefits. By harnessing biological control mechanisms and endorsing organic agricultural practices, these products enhance soil fertility and biodiversity, leading to long-term sustainable crop yields. Additionally, the transition to biopesticides resonates with consumer inclinations towards organically and sustainably farmed produce, carving new avenues for growers and exporters in the market.

In summation, the biopesticides market is emblematic of a significant paradigm shift in farming towards organic and sustainable practices. With advocacy from organizations like the Organic Trade Association, FiBL, and the support of government agencies such as the United States Department of Agriculture and the Agricultural and Processed Food Products Export Development Authority, biopesticides are poised to redefine the agricultural landscape. This market trajectory is set to promote environmental stewardship and align with the evolving consumer demands across the globe.

Market Overview and Related Reports

The Biopesticides Market is soaring, with sustainability at the forefront of agricultural advancements. Proponents such as the Organic Trade Association and the Research Institute of Organic Agriculture (FiBL) advocate for microbial-based biopesticides as a cornerstone for eco-friendly solutions within the sector. Regulatory bodies like the United States Department of Agriculture and the Agricultural and Processed Food Products Export Development Authority significantly influence the market's expansion through regulation and promotion. The heightened environmental apprehensions and the pursuit for safer alternatives to traditional chemical pesticides catalyze market growth. Leveraging natural agents, microbial-based biopesticides represent a promising sector, intent on diminishing ecological impacts and fostering continuous growth and innovation.

To further explore market dynamics and obtain more strategic insights, interested individuals are encouraged to download a sample report.

Adjacent to the growth of the biopesticides stead, the organic pesticides market is on the rise, with an expected increase to USD 4.48 billion from 2021 to 2026, and its momentum forecasted to surge at a CAGR of 12.02%. Simultaneously, the Global Agricultural Pesticides Market is estimated to grow by USD 25,123.05 million, with projections to flourish at a CAGR of 4.49% between 2022 and 2027.

Conclusion and Contact Information

Technavio, a leading global technology research and advisory firm, is at the forefront of emerging market trends, providing actionable insights to businesses for market opportunity identification and strategic positioning. With an extensive report library, the company aids enterprises of varied sizes, including Fortune 500 clients, in understanding evolving market scenarios.

For further details and insights into the biopesticides market or other related queries, interested parties are welcome to reach out to Jesse Maida, Media & Marketing Executive at Technavio.

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SOURCE Technavio