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Biopesticides Market | Growth, Trends, and Forecast (2018-2023) - Market Data Forecast
Biopesticides are substances derived from naturally occurring materials like plants (plant-incorporated protectants or PIP’s), micro-organisms (microbial pesticides) and certain minerals (biochemical pesticides). The biopesticides control diseases or pests through broad-spectrum approach and even through selective approach. These are replacing conventional pesticides from the market due to their non-toxic quality and target specific behaviour. As biopesticides target only specific pests which are needed to be destroyed but the conventional pesticides can even harm birds, animals or even human beings.
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This market growth is driven by the high prevalence of crop diseases and rising demand for organic both in both developed and developing regions. Various research centres all around the world are taking initiatives to improve techniques for the augmentation and application of biopesticides. Unawareness of farmers regarding the benefits of biopesticides and also their reluctance to change from the existing practices of chemical pesticides is restraining the growth of the market.
Biopesticide Market Forecast Report (2018-2023)
Global Biopesticide Market is estimated to reach USD $6.77 billion by 2023 from USD $3.14 billion in 2018 at a CAGR of 16.6%.
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Biopesticide Market Segmentation
According to ingredients, they are classified as biochemical pesticides, plant pesticides and microbial pesticides. On the basis of microorganism’s type, they are segmented into bioherbicides, bio fungicides, bionematicides and bioinsecticide. Based on crop type the market is fragmented among permanent and arable crops along with forage & turf grasses and greenhouse crops. By application, the market is bifurcated into seed treatment, on the farm and post-harvest application. Biofungicide and bionematicide segments are anticipated to witness the highest growth in the global biopesticide market.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America holds the largest share of the Biopesticide market due to the rise in demand for organic foods, which depends upon chemical free products to safeguard crops and human health. Asia-Pacific holds the second largest market share. The market is driven by remarkable advancement in biotechnology which has witnessed a new growth paradigm.
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Major Players:
The major companies dominating this market for its products and services are
• Parry America,
• Ander matt Biocontrol Ag,
• Marrone Bio Innovations Inc,
• Agbitech Pty Limited,
• Bioworks Inc.,
• Som Phytopharma Limited,
• Camson Bio Technologies Limited,
• Hebei Veyong Bio-Chemical Co. Limited,
• Becker Underwood Inc.,
• AgraQuest Inc.,
• Growth Products Limited,
• Valent Biosciences Corp,
• Biocare,
• Novoenzymes A/S.
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About Us
Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.
Abhishek Shukla
Sales Manager at Market Data Forecast
Email: abhishek@marketdataforecast.com
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Website: www.marketdataforecast.com
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