Biopesticides Market Worth 8.82 Billion USD by 2022

Monday 21 November 2016, Amsterdam

The report, now available on ASDReports, "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bioherbicides, and Bionematicides), Origin (Beneficial Insects, Microbials, Plant-incorporated Protectants, and Biochemicals), Mode of Application, Formulation, & Crop Type - Global Forecast to 2022", The global biopesticides market is estimated to be valued at USD 3.36 Billion in 2016 and projected to reach USD 8.82 Billion by 2022, at a CAGR of 17.4% from 2016.

Increase in crop loss due to insects and diseases, development of pest-resistance to various chemicals, changing farming practices (from traditional to smart farming), have been of importance to the growth of the global biopesticides market. Biopesticides are used for high-quality crop yield for the increasing population and growing organic food demand. Hence, biopesticides will be viewed as a business opportunity in the next six years. As a result, many multinational players have entered into the production of various types of biopesticides, which can be used for diversified crop types.

Significant growth expected in the bioinsecticides segment
Bioinsecticides are gaining high popularity in the crop protection activities across the world as many of the crop pests, especially insects have gained resistance to the pesticides. Bioinsecticides are more convenient to use, owing to their ease in application. Bioinsecticides are the most widely used biopesticides and hence, the biopesticides segment is projected to be the fastest-growing for the next six years.

The fruits & vegetables segment projected to be the fastest-growing market during the forecast period
The major types of crops on which biopesticides are used are grains & oilseeds, fruits & vegetables, and others, which include turf, plantation, sugar crops, cotton, and ornamental crops.The fruits & vegetables segment is projected to be the fastest-growing market from 2016 to 2022. Growth in demand for fruits & vegetables, owing to the increasing awareness with regard to their nutritional benefits and the rise in need for enhancement of crop productivity is driving the market for biopesticides in the fruits & vegetables segment.

Increase in need for organic food products, high investment in R&D, and change in farming practices key to success in the North American region
North America is one of the largest contributors to the global biopesticides due to the rise in use of biopesticides through advanced agricultural techniques and increase in need for organic food security in the North American countries. U.S. constituted the largest country-level market in the North American region in 2015. High market penetration by the leading biopesticide companies and growth in need for nutrients for enhancing the agricultural growth and productivity, as well as the change in climatic conditions are the main factors influencing the growth of the biopesticides market in North America.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. These companies include BASF SE (Germany), Bayer CropScience AG (Germany), Marrone Bio Innovations Inc. (U.S.), Certis USA LLC (U.S.), Koppert Biological Systems (Netherlands), and The Dow Chemical Company (U.S.), Monsanto Company (U.S.), Isagro SPA (Italy), Camson Bio Technologies Limited (India), Bioworks, Inc. (U.S.), W. Neudorff GmbH Kg (Germany), and Valent Biosciences Corporation (U.S.).