Global Biopesticides Market will touch a new level in upcoming year.

 

The Biopesticides market was valued at USD 4.4 Billion in 2020, and it is expected to reach a value of USD 11.1 Billion by 2027, at a CAGR of 14.7% over the forecast period (2020 - 2027).

Biopesticides are pesticides produced from natural sources such as plants, animals, and microorganisms. Canola oil and baking soda, for example, have pesticidal properties and are termed biopesticides. The market's expansion is accelerating, owing mostly to rising demand for organic farming. It is more environmentally friendly and lowers the environmental effect of farming activities. Organic agriculture's favorable development trend is predicted to assist the future growth of biopesticides.

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Governing bodies have placed a strong emphasis on organic and sustainable farming, which has increased the use of bio-based crop protection agents. Even during the epidemic, governments have advocated for the use of bio-based agriculture inputs. Several countries have put in place various initiatives to encourage individuals to use environmentally friendly agricultural inputs.

This report provides in-depth analysis of Global Biopesticides market. We have analyzed 20+ data points that include product price trends, consumer purchase patterns, company annual sales performance, COVID-19 impact on distribution channels, parent industry performance, regional trends, and technological innovations, for tracking the Global market size and performance in the recent years.

Global Biopesticides Market Segmentation

The Global Biopesticides market is segmented based on Type, Source, Application, Crop Type, Mode of application and Region. Based on Type it is categorized into: Bioinsecticide, Biofungicides, Bionematicide, Bioherbicides. Based on Source it is categorized into: Microbials, Biochemical, Beneficial insects. Based on Application it is categorized into: Beneficial insects, Soil treatment, Seed treatment. Based on Crop Type it is categorized into: Cereals & grains, Oilseeds & pulses, Fruits & vegetables. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

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Global Biopesticides Market: Impact of COVID 19

The unexpected spread of the coronavirus pandemic has impacted the Biopesticides market, with policymakers enacting lockout measures and restricting public travel. Supply chain disruptions and labor shortages have a significant impact on biopesticide output. Owing to raw material shortages, labor shortages, and government-mandated plant shutdowns, the overall biopesticides industry is expected to experience interruptions and supply declines..

Key Trends in Global Biopesticides Market

·         The creation of new goods using microbial components is one significant industry trend. Despite the uncertain weather, microbes will emerge as an effective and low-cost approach to increase output. Increased investments from venture capital and institutions will expand research efforts, giving the industry a boost.

·         Another market development that is now underway is customer awareness of the negative consequences of chemicals. As a result, people are increasingly demanding organic food goods, which will eventually replace conventionally cultivated agricultural products. Developed nations are embarking on green and evergreen revolutions, which may drive market demand.

·         Governments are prohibiting the use of some active chemical components to avoid negative impacts on human, environment, and animal health. As a result, the demand for bio-based agricultural goods is increasing.

Global Biopesticides Market: Regional Dynamics

North America is currently the leading region and will continue to account for a sizable percentage of the market over the forecast period. Strict laws and regulations on the use of synthetic crop defense agents to safeguard the environment from negative impacts are pushing the regional business. The product's revenues in the regional market are being pushed by a never-ending search for greener agricultural inputs. Furthermore, the growing emphasis on utilizing microbe-based insecticides for yield development and pest resistance improvement is expected to stimulate product growth and demand.

Global Biopesticides Market: Competitive Landscape

The market is characterized by the presence of a few well-established players. New product launches, partnerships and investing in research & development have been a key business strategy. Some of their recent developments are as follows:

·         Syngenta AG and Novozymes announced the introduction of TAEGRO, a special bio fungicide, in the Latin American and European markets in April 2020.

·         Sweden and Israel approved the use of Madex, an Andermatt Biocontrol AG product, in pome fruit orchards to combat the codling moth in March 2020.

·         Stockton Bio Ag partnered with ADAMA Agricultural Solutions Ltd. in February 2020 sold its bio fungicides in the Ecuadorian market.

Key players in Biopesticides market are:

·         BASF SE

·         Bayer AG

·         Biobest Group NV

·         Certis USA L.L.C

·         Novozymes A/S

·         Marrone Bio innovations

·         Syngenta AG

·         Nufarm

·         Som Phytopharma India Ltd

·         Valent Biosciences LLC.

·         BioWorks, Inc.

·         STK Bio-ag

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