Biopesticides Market worth $13.9 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 27, 2023 /PRNewswire/ -- The Biopesticides Market will grow from USD 6.7 billion in 2023 to USD 13.9 billion by 2028, growing at a CAGR of 15.9% from 2023 to 2028 according to a report published by MarketsandMarkets™.

The biopesticides market has experienced substantial growth due to the expanding organic farming sector driven by consumers' increasing concerns regarding the quality and safety of their food. Organic farming practices strictly forbid the use of synthetic chemical pesticides, making biopesticides the preferred option for pest management in these systems. As the demand for organic produce continues to rise, it has directly fueled the growth of the biopesticides market.

Significant investments from both public and private sectors have been drawn to the expanding market potential of biopesticides. This influx of capital has played a crucial role in enabling the development and commercialization of novel biopesticide products. Investment in research and infrastructure has further stimulated market growth, enhancing global accessibility of biopesticides for farmers.

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The microbial source of the biopesticides segment is driving the market due to target pest specificity

The demand for microbial pesticides is increasing due to their effectiveness in integrated pest management (IPM) strategies. IPM emphasizes the use of multiple pest control methods to achieve sustainable and targeted pest management. Microbial pesticides are a valuable component of IPM as they offer an environmentally friendly alternative to chemical pesticides. This resonates with farmers who seek sustainable and long-term solutions for pest control.

Moreover, microbial pesticides have demonstrated their efficacy against a wide range of pests and diseases. They possess a high level of specificity, allowing them to selectively target pests while minimizing harm to beneficial insects. This precision in pest control is crucial for preserving biodiversity and maintaining ecological balance in agricultural ecosystems. Farmers recognize the importance of using microbial pesticides to protect their crops while minimizing the unintended negative impacts on the environment.

The liquid formulation of biopesticides segment is driving the market in biopesticides in 2023

The increasing demand for liquid biopesticides can be attributed to several key reasons. Firstly, the ease of application is a significant advantage. Liquid biopesticides can be conveniently mixed with water and applied using standard spraying equipment. This allows for efficient and uniform coverage of crops, ensuring effective pest control. Farmers appreciate the convenience and flexibility offered by liquid formulations, as they can seamlessly integrate them into their existing spraying routines. Secondly, liquid biopesticides tend to have a longer shelf life compared to powdered or granular forms. This extended shelf life enables better storage and distribution, reducing the risk of product deterioration. It ensures that the biopesticides remain viable and available when needed, providing farmers with a reliable pest management solution.

Moreover, liquid formulations offer improved adherence to plant surfaces, enhancing their efficacy. They have the ability to penetrate the tissues of plants and provide systemic protection against pests and diseases. This is particularly beneficial when combating pests that target below-ground plant parts or when managing systemic diseases that affect the entire plant. The ability of liquid biopesticides to provide systemic protection contributes to their effectiveness in controlling pests and diseases.

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North America is witnessing growth in the biopesticides market due to tight regulations and limitations on the application of conventional chemical pesticides

The agricultural sector in North America is characterized by a variety of farming systems, including large-scale commercial operations and smaller organic and specialty crop farms. This diverse landscape creates favorable conditions for the utilization of biopesticides across a wide range of crops. Farmers in North America appreciate the versatility and effectiveness of biopesticides in managing various pests and diseases, making them a preferred choice in pest management strategies.

Furthermore, the regulatory framework in North America has played a significant role in driving the demand for biopesticides. Regulatory agencies like the United States Environmental Protection Agency (EPA) have implemented stringent regulations and restrictions on the use of conventional chemical pesticides. This has prompted farmers to explore and adopt alternative pest control solutions, such as biopesticides, to comply with these regulations. The focus on environmental sustainability and reducing chemical inputs has further encouraged the adoption of biopesticides among farmers in North America.

The key players in the biopesticides market include BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), UPL (India), FMC Corporation (US), Pro Farm Group Inc. (US), Novozymes (Denmark), Isagro S.p.A (Italy), Nufarm (Australia), and Certis USA L.L.C. (US).

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