DUBLIN--(BUSINESS WIRE)--The "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation, Crop Application, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global biopesticides market size is projected to grow at a CAGR of 14.7% from an estimated billion value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025.
The market has been gaining wide importance among farmers to produce residue-free food products with the usage of microbial-based bioinsecticides.
Biological solutions have proved to be an effective alternative to conventional chemicals and even work optimally when applied in combination. Increasing biotic and abiotic stress has resulted in the emergence of invasive pests, which has resulted in reduced crop yields. Most of the bioinsecticides have been commercialized and produced at a large scale, such as Bacillus thuringiensis, which has proved to be effective against controlling insect pests.
The growth of inorganic farming and increasing acceptance of organic crops has led to the implementation of Integrated Pest Management (IPM) solutions. Poor knowledge of the application of biologicals, storage issues, and other technological constraints are expected to restrain the growth of the market.
The liquid formulation market to be the larger and faster-growing among the formulations segment for the forecast period.
Liquid formulations are estimated to account for the faster-growing market share in the forecast period. The ease of application and transportation are the key drivers for the growth of the liquid formulations segment. With advancements in technology, precision irrigation technologies such as drip irrigation and sprinkler irrigation, the liquid formulation is gaining huge market share.
In the biopesticides market, Europe is estimated to be the fastest-growing market in the forecast period.
The increase in the infestation of pests, pest resistance and resurgence, and the ban on key active ingredients are driving the growth of the biopesticides market. With the increased demand for organic food crops and the harmful effects of chemical-based farming, farmers have started to adopt biopesticides.
The government also imposed stringent regulations on the use of chemical pesticides to conserve beneficial insects and reduce the toxic levels across the food chain. Farmers in these regions are adopting the usage of microbials, along with beneficial insects, to control invasive pests in protected cultivation. These are some of the drivers leading to an increase in the market for biopesticides.
The biopesticides market is segmented market-wise, with a detailed analysis of each market by studying the individual competitive landscapes.
- High Costs Associated With the Development of Synthetic Crop Protection Products
- Chemical Pesticide Ban and Awareness Programs by Government Agencies
- Increase in Acceptance of Organic Food
- Technological Limitations for the Use of Biological Products
- Advancements in Microbial Research Undertaken by Key Players Across Regions
- Pest Developing Resistance to Crop Protection Chemicals
- Growth Opportunities in Developing Regions Such as Asia-Pacific and South America
- Preference for Chemical Pesticides Among Farmers in Developing Countries
- BASF Se
- Bayer AG
- Syngenta AG
- Upl Limited
- Fmc Corporation
- Marrone Bio Innovations
- Novozymes A/S
- Isagro S.P.A
- Certis USA L.L.C
- Koppert Biological Systems
- Biobest Group Nv
- Products Offered
- Som Phytopharma India Ltd
- Valent Biosciences LLC
- Stockton Bio-Ag Technologies
- Andermatt Biocontrol AG
- International Panaacea Ltd
- Vegalab S.A
- Bioworks, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/juoqhk