Biopesticides Market Revenue is Estimated to Gain $11.3 billion by 2027 Globally – says MarketsandMarkets™

Chicago, Dec. 02, 2022 (GLOBE NEWSWIRE) — The Biopesticides Market size is estimated to be value at USD 5.5 billion in 2022 and is expected to reach USD 11.3 billion by 2027, at a CAGR of 15.6% from 2022 to 2027 globally.

Due to rise in incidences of insect infestation, pest resistance, rise in consumer awareness and subsequently in organic food demand, along with strict environmental regulations are pushing the demand for biopesticides which are relatively safer and have quick development procedures than conventional pesticides. 

Biopesticides have created a rise in pest resistance. Thus, policymakers across the globe are regulating and banning chemical-based active ingredients, especially in the North American and European regions. This is driving the biopesticides market. Consumer awareness and rise in demand for organic food are also the major factors that support the rise of the market in coming times.

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Bionematicides are gaining popularity in the market due to rise in cases of nematodes infestation. Nematodes infestation causes extensive crop and financial losses to the cultivators. The per capita income is rising across the globe, which is pushing the demand for high value and cash crops such as sugarcane and horticultural crops. Thus, damage of these crops can cause huge financial losses to the growers which is pushing the demand for bionematicide. Thus, bionematicides segment is projected to grow at the fastest pace out of all segments during the forecast period.

Plant pathogenic bacteria & fungi and insect pests are developing resistance to chemicals and can adapt to crop protection chemicals through mutations, which, in turn, has led to reduced efficacy and pest resurgence. One of the major pathogen species that have developed resistance includes Botrytis cinereal, which affects the production of fruit and vegetable crops both during pre- and post-harvest times.

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Excessive spraying activity has led to the development of multi-resistant strains in several countries. While biofungicides cannot be considered an equivalent alternative to chemical protection against Botrytis, there has been an increase in interest toward biological control of the same using plant-based products or antagonistic microorganisms. Some of the major products that are marketed include strains of bacteria (Bacillus spp.) and filamentous fungi (Trichoderma harzianum). These products are often used in controlled environments and were found effective in the control of major leaf and root diseases in crops.

The fruits and vegetables segment is projected to grow at the highest CAGR of 16.0% during the forecast period. Fruits and vegetables are high-value specialty crops grown on a large scale in greenhouses and open fields. Consumers have turned more health conscious in recent years which has created a shift to specialty crop production due to high demand for healthy and organic foods like fruits and vegetables. High value crops give larger profits to cultivators. Hence, agricultural input is also high. They are also the most exported crop types in the organic sector. Thus, to comply with import regulations especially in the North American and European countries, the fruits and vegetables segment consumes a large share of biopesticides, and the demand is projected to grow at the fastest rate during the forecast period.

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In 2022, Europe is estimated to have a market share of 30.3% in the global biopesticides market. The European biopesticides market is driven by stringent government policies like Farm to Fork strategy and proposals like 50% reduction in chemical pesticides by 2030 which ensure environment sustainability and food safety. Consumers in the European market are also well aware and thus the demand for organic food items is high. Europe is also a technologically advanced region which gives it an edge over other regions on the application of biopesticides. Thus, the region is projected to be the fastest growing market during the forecast period and is projected to reach USD 3,520.3 million during the forecast period.

The key players in this market include BASF SE(Germany), Bayer AG (Germany), and Syngenta AG (Switzerland).

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