Biopesticides Market Worth $9.61 Billion by 2028 -- Exclusive Report by Meticulous Research®

REDDING, Calif., March 2, 2022 /PRNewswire/ -- According to a new market research report titled "Biopesticides Market by Product Type (Bioinsecticides, Bioherbicides, Biofungicides), Origin (Microbial, Biochemical), Formulation (Liquid, Dry), Mode of Application (Foliar Spray, Seed Treatment), Crop Type, and Geography — Global Forecasts to 2028", published by Meticulous Research®, in terms of value, the biopesticides market is expected to grow at a CAGR of 11.7% from 2021 to reach $9.61 billion by 2028; whereas, in terms of volume, this market is expected to grow at a CAGR of 9.6% from 2021 to reach 558.4 KT by 2028.

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Over the last decade, agricultural yields have increased tremendously through the extensive application of chemicals that have long-lasting and profound effects on the environment and human beings. Higher and advanced productive agricultural materials are a requirement to fulfill the food demand of the growing population. Therefore, the use of biopesticides has increased significantly across the globe.

Biopesticides are compounds formulated to specifically affect target pests and other related organisms by biological means. Being economically viable, eco-friendly, and easy to use, biopesticides can create a suitable alternative for synthetic pesticides in crop protection. Increasing pests, diseases, fungal infections, and weeds have affected crop yields. To curb these problems, biopesticides obtained from microorganisms and other biological agents play a vital role in minimizing and controlling pest infestations.

The growth of this market is backed by the increasing investment from leading crop protection companies, growing awareness about environmental safety, higher crop quality and yield with the use of biopesticides, growing organic farming & demand for organic food, and rising government initiatives.

Moreover, the huge agricultural diversity and arable land in emerging countries, including Asia-Pacific and Latin America, is expected to offer significant growth opportunities for players operating in the biopesticides market. However, factors such as lack of awareness & low adoption rate of biopesticides and low shelf-life & inconsistent performance are expected to hinder the growth of this market to a certain extent.

Impact of COVID-19 on the Biopesticides Market

The COVID-19 pandemic adversely hit many economies around the globe. Complete lockdown and quarantine to fight COVID-19 adversely impacted many industries globally, including agriculture and crop protection. In the agriculture sector, the biopesticides market registered a strong slowdown in sales in the first quarter of 2020, mainly due to the disturbance in logistics and transportation. Along with logistics and transportation, the biopesticides market registered interruptions in the entire sector's value chain from raw materials supply to manufacturing, packaging, and distribution.

COVID-19 resulted in the movement restrictions of workers, a decline in demand from farmers, and the closure of production facilities. The industry also suffered severe labor shortages due to repeated lockdowns that affected the production and trade movements. The decline in business for a few initial months in 2020, coupled with lower demand from a few major markets, put pressure on the profitability of biopesticides manufacturers and vendors.

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The effects of the COVID-19 pandemic on this market were felt in China starting 2020, as the country is one of the world's largest raw material suppliers for the biopesticides industry. Most European and North American biopesticide companies import key active ingredients used in producing biopesticides, mainly from China and other Asian countries. With the crisis being persistent, it suggested low availability of raw materials as the cropping season progressed. This created a scarcity of products in high-growth markets, such as the U.S., Brazil, Spain, and Italy.

Therefore, a complete halt on the transportation and logistics industry and reduced production in some countries due to lockdowns worldwide adversely affected the global biopesticides market in terms of volume sales in 2020 and 2021.

Growing Awareness About Environmental Safety Fuels the Growth of the Biopesticides Market

Biopesticides provide growers with valuable tools on both fronts by delivering highly effective solutions in managing pests and diseases without creating negative impacts on the environment, and their active and inert ingredients are generally recognized as safe. Besides the microbial content, carrier media for formulating biopesticide consist of several organic materials, such as animal broth, organic materials, or organic waste products. The media is a biodegradable material. Biopesticides support the stability and sustainability of the agroecosystem because they do not negatively affect the environment.

Apart from impacts on humans, pesticides cause significant damage to the environment. There have been many cases around the world that freshwater used for agriculture is getting polluted with harmful pesticides, causing serious damage to the fauna and flora of the freshwater. Therefore, many environment-friendly organizations, such as Environmental Protection Agency, have been opposing pesticides. For instance, a recent study conducted by researchers at the Public Health Institute, the California Department of Health Services, and the UC Berkeley School of Public Health found a six-fold increase in risk factors for Autism Spectrum Disorders (ASD) for children of women who were exposed to organochlorine pesticides. All these factors have a positive effect on the growth of the global biopesticides market.

Biologicals are always safer and easier on the environment than chemical products. Biopesticides are often formulated to only affect the target pest and closely related organisms (selective) in direct contrast to chemical pesticides, which frequently offer broad sweeping coverage (non-selective) that will negatively impact insects, birds, and anything else that comes in contact with them. Biopesticides contain natural organisms or products, therefore pose less threat to the environment and human health. Biopesticides have attracted attention in pest management in recent decades and have long been promoted as prospective alternatives to synthetic pesticides. Although biopesticide use at a global scale is increasing by almost 10% every year, the global market must increase further in the future if these pesticides play a visible role in substituting for chemical pesticides and reducing the current overreliance on them.

Hence, increasing environmental and public health hazards due to chemical pesticides and growing awareness about environmental safety with the use of biopesticides, fuelling the growth of the biopesticides market across the globe.

Biopesticides Market Overview

Meticulous Research^® has segmented the overall biopesticides market based on product type (bioinsecticides, bioherbicides, biofungicides, bionematicides, and other biopesticides), origin (microbial, biochemical, and PIP), formulation (liquid biopesticides and dry biopesticides), mode of application (foliar spray, seed treatment, soil treatment, root treatment, post-harvest application, and other modes of application), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, and other crops), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on product type, the biopesticides market is segmented into bioinsecticides, bioherbicides, biofungicides, bionematicides, and other biopesticides. The bioinsecticides segment accounted for the largest share of the overall biopesticides market in 2021. Moreover, this segment is further expected to remain the largest product type through 2028 in the biopesticides market. The growth of this segment is primarily attributed to the growing awareness regarding the environmental hazards of chemical insecticides, a high prevalence of insect-based infections, and the increasing number of insecticide-resistant pests.

Based on origin, the biopesticides market is categorized into microbial, biochemical, and plant-incorporated protectants. The microbial biopesticides segment accounted for the largest share of the overall biopesticides market in 2021. Moreover, this segment is expected to record the highest CAGR during the forecast period, as microbial origin pesticides are composed of naturally occurring viruses, fungi, or bacteria. They are mostly preferred for organic and residue-free food production. Further, factors such as the higher advantage of selectivity; high effectivity; no adverse effects on humans, plants, and animals; and ease of use are driving the growth of the microbial biopesticides market across the globe.

Based on formulation, the biopesticides market is segmented into liquid and dry biopesticides. The liquid biopesticides segment accounted for the largest share of the overall biopesticides market in 2021. Moreover, this segment is further expected to record the highest CAGR during the forecast period. This segment's larger share and fastest growth are mainly attributed to the liquid biopesticides' longer duration of effectiveness (up to 6 months) than dry biopesticides (up to 3 months) and their better performance in disease control.

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The foliar spray segment accounted for the largest share of the overall biopesticides market in 2021. This segment's large share is mainly attributed to the uniform distribution of biochemicals, highest biopesticide use efficiency, and minimum to no wastage of biopesticides achieved using the foliar spray technique.

Biopesticides help improve crop quality and marketability and are widely used to protect fruits & vegetables, cereals & grains, oilseeds & pulses, and other crops. The fruits & vegetables segment accounted for the largest share of the overall biopesticides market in 2021. The large share of this segment is mainly attributed to the increasing fruit & vegetable production across the globe, growth in organic farming globally, and the growing number of diseases affecting fruit & vegetable crops.

Based on geography, North America accounted for the largest share of the global biopesticides market in 2021. The large share of this region is primarily attributed to the increasing concerns over harmful chemicals on the environment, growing demand for organic food, and the presence of a streamlined registration process. Additionally, the presence of several key players in the region and the growing adoption of eco-friendly farming methods by farmers further supports the growth of the biopesticides market in North America.

Additionally, Europe is slated to grow at the fastest CAGR during the analysis period due to the increasing demand for organic food, high prevalence of crop diseases, and government initiatives to develop and increase the application of biopesticides in the region. Spain is expected to dominate the European market through 2028, mainly due to the growing consumer demand for organic food and increasing grains production with environment-friendly crop solutions.

The key players operating in the global biopesticides market are Bayer AG (Germany), Marrone Bio Innovations, Inc. (U.S.), Certis USA L.L.C. (A Part of Mitsui & Co.) (U.S.), The Dow Chemical Company (Part of Dow Inc.) (U.S.), Andermatt Biocontol AG (Switzerland), BASF SE (Germany), Som Phytopharma India Limited (India), Syngenta AG (Part of ChemChina) (Switzerland), International Panaacea Ltd (IPL) (India), The Stockton (STK) Group (Israel), BioWorks, Inc. (U.S.), Novozymes A/S (Denmark), Koppert B.V. (Netherlands), W. Neudorff GmbH KG (Germany), InVivo Group (France), Valent U.S.A. LLC (part of Sumitomo Chemical Co., Ltd.) (U.S.), FMC Corporation (U.S.), and Gowan Company, LLC. (U.S.), among others.

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Scope of the Report

Biopesticides Market, by Type

• Bioinsecticide
• Biofungicide
• Bionematicide
• Bioherbicide
• Other Biopesticides

Biopesticides Market, by Origin

• Microbial
• Biochemical
• Plant Incorporated Protectant

Biopesticides Market, by Formulation

• Liquid Biopesticides
• Dry Biopesticides

Biopesticides Market, by Mode of Application

• Foliar Spray
• Seed Treatment
• Soil Treatment
• Post-Harvest
• Root Treatment
• Other Modes of Application

Biopesticides Market, by Crop Type

• Fruits & Vegetables
• Cereals & Grains
• Oilseeds & Pulses
• Other Crops

Biopesticides Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Spain
•  France
• Germany
• Italy
• U.K.
• Rest of Europe
• Asia-Pacific
• China
• India
• Australia
• Japan
• Rest of Asia-Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America
• Middle East & Africa

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