Description
The global biopesticides market is growing rapidly; it is estimated to be worth USD 6.88 billion in 2023 and is anticipated to reach USD 20.46 billion by 2035. It is expected to grow at a compounded annual growth rate (CAGR) of 9.50% during the forecast period.
Biopesticides: The Eco-Friendly Solution Driving Sustainable Agriculture
In recent years, biopesticides have emerged as a game-changing, eco-friendly alternative for controlling crop-damaging pests. Derived from natural resources such as plants, animals, microorganisms, and specific enzymes, biopesticides utilize natural mechanisms to target and eliminate pests while preserving the environment.
Advantages of Biopesticides
Growing Global Demand for Biopesticides
The rising adoption of biopesticides across the globe stems from increasing awareness about sustainable farming and consumer demand for chemical-free produce. Biopesticides effectively combat a wide range of agricultural threats, including bacteria, fungi, insects, nematodes, and viruses, making them an essential tool for modern farmers.
Market Growth and Future Outlook
With heightened emphasis on sustainability and eco-conscious farming, the biopesticides market is poised for substantial growth in the coming years. As global agricultural practices pivot toward greener solutions, biopesticides are set to dominate the pest control landscape.
Incorporating biopesticides into your farming practices not only helps protect crops but also supports a healthier environment, paving the way for a sustainable future.
Explore how biopesticides can revolutionize your pest management strategies and contribute to a greener planet.
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Market Drivers
The major biopesticides market drivers contributing towards the growth of this field include increasing adoption of integrated pest management practices for crop cultivation and rapid increase in seed treatment solutions. Integrated pest management (IPM) involves the use of biopesticides to mitigate the risk of developing agrochemical-resistant pests and enhance pest control. The widespread adoption of IPM by the agriculture sector has led to a surge in demand for biopesticides, which is anticipated to drive the market in the foreseen future. The rising awareness about organic farming and environmental concerns has resulted in the increasing use of biological solutions for pest management on a large scale, which is expected to become a promising market driver.
Market Restraints
Several factors that hinder the growth of the biopesticides market include a lack of technical expertise and a high cost-to-productivity ratio. Lack of technical advancement and use of inefficient microbial strain for biopesticide production may impact the product performance, resulting in limited adoption, which further impacts the market growth. Furthermore, the effect of biopesticides is short-lived under the influence of several abiotic and biotic stress factors. The application of biopesticides on crops is a complex process—it requires a special mode of application that enhances overall cost.
Growth Factors
Some of the promising factors that are driving the biopesticides market include growing demand for organic food production, rising environmental concern, and subsequent adoption of biological pest management solutions. The increasing awareness about the benefits of organic and sustainable farming among people across the globe has led to an increase in demand for biopesticides. Driven by the rising opportunities, several biopesticides market players signed partnership agreements to accelerate the production of novel biopesticides, which is anticipated to grow the market.
Biopesticides Market Segments
Based on the source of the product, the biopesticides market is segmented into microbes, plant extracts, and other sources.
▪ Based on the source of products, microbes are dominating the biopesticides market, holding a significant share of 58% in 2023.
▪ Plant extracts are expected to experience substantial growth and are estimated to grow at a higher CAGR of 10.48% during the forecast period.
Based on the mode of application, the biopesticides market is segmented into foliar sprays, seed treatment, soil treatment, and other application methods.
▪ Based on the mode of application, the biopesticides market is led by foliar sprays, capturing 55% of the market share in 2023.
▪ Seed treatment is likely to grow at the highest compounded annual growth rate of 10.19% during the forecast period 2023-2035.
Based on the type of crop treated, the biopesticides market is segmented into cereals and pulses, fruits and nuts, oilseeds, green fodder, vegetables and tubers, industrial crops, textile crops, and others.
⬝ Based on the type of crop treated, the biopesticides market is dominated by cereals and pulses, holding a significant share (33.3%) in 2023.
⬝ Fruits and nuts are expected to grow at the highest compounded annual growth rate of 10.49% during the forecast period.
Based on the key geographical region, the biopesticides market is segmented into North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
⬝ North America is dominating the biopesticides market, capturing 39.4% of the overall revenue share in 2023.
⬝ In Asia-Pacific, the biopesticides market is growing at a higher CAGR of 10.74% during the forecast period.
Key Companies Profiled
Examples of the key companies engaged in the biopesticides market (which have also been profiled in the market report; the complete list of the companies is also included in the full report) include:
⬝ Andermatt
⬝ Bayer
⬝ BioSafe Systems
⬝ Certis Biologicals
⬝ Corteva Agriscience
⬝ Novozymes
⬝ Nutri-Tech Solutions
⬝ ProFarm
⬝ Syngenta
⬝ Valent Biosciences
Recent Developments in Biopesticides Market
It is worth highlighting here that several biopesticides market players have collaborated to increase their resources to meet the growing demand for biological solutions to control pests. Examples of such types of partnerships are listed below.
⬝ In June 2023, Corteva Agriscience and the US Agency for International Development collaborated to enhance farmer's accessibility to advanced crop inputs.
⬝ In May 2023, Novozymes and Azelis signed a partnership for the distribution of bio-ag solutions manufactured by Novozymes in Malaysia.
⬝ In May 2022, UPL Limited and AgBitech entered into a strategic partnership. Under this partnership, UPL will distribute AgBiTech’s bio solutions, beginning with two bioinsecticides, Heligen and Fawligen.
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