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Global Biopesticides Market to Exhibit 9.90% CAGR from 2015 to 2023 owing to Steady Introduction of New Product Offerings

Press release Description

Albany, New York, August 26, 2016: Market Research Reports Search Engine (MRRSE) has added a new report on the global biopesticides market to its wide database of research reports. As per the findings of the report, the global biopesticides market stood at US$1.96 bn in 2015 and is predicted to reach US$4.17 bn by 2023. The market for biopesticides is expected to exhibit a 9.90% CAGR during the period between 2015 and 2023. 

The growing environmental regulations and the rising demand for organic food are two of the primary factors expected to drive the global market for biopesticides. Using biopesticides reduces the usage of conventional pesticides without disturbing crop yields in integrated pest management (IPM) and integrated crop management (ICM) programs. This is expected to drive the demand for biopesticides across the world.

The report, titled ‘Biopesticides Market – Global Industry Analysis, Size, Share, Growth and Forecast 2015 – 2023,’ highlights key factors driving the growth of the market and various applications of biopesticides. The study also profiles key companies operating in the global market. Biopesticides, derived from natural sources such as bacteria, animals, plants, and minerals, find application in seed treatment, farming, and post-harvest activities.

Factors such as the steady introduction of new product offerings, the toxicity of crop protection products, innovative production practices, the introduction of new pesticides, and the rising availability of biopesticides are some of the other factors predicted to propel the global market.

For a better understanding, the global biopesticides market is segmented on the basis of application, region, product type, crop type, and active ingredients type. By product type, the market is classified into bioinsecticides, bionematicides, biofungicides, and bioherbicides. The active ingredients in biopesticides are microbial, biochemical, and plant-based. Based on crop type, the global biopesticides market is classified into arable crops and permanent crops.

Regionally, the global biopesticides market is divided into Europe, North America, Asia Pacific, and Rest of the World. In 2014, North America dominated the global market for biopesticides and is predicted to maintain its dominance throughout the forecast period. The rising demand for organic farming and chemical-free crops is predicted to contribute massively towards the growth of the North America market for biopesticides.

The rising demand for biopesticides from Italy, France, and Spain is predicted to propel the Europe biopesticides market in the years to come. Changing government regulations and new product launches have benefited the market for biopesticides in Europe. Biopesticides are less toxic than conventional pesticides and easily biodegradable. These features have boosted the global demand for biopesticides.

Syngenta Crop Protection, LLC, Becker Underwood Inc., Arysta LifeSciences, Bayer CropScience AG, Novozymes A/S, AgBiTech Pty Ltd., BASF SE, Valent Biosciences Corp, and Dow AgroSciences are some of the prominent companies listed in the report. At present, key companies are focusing on improving their research and development activities to develop new biopesticides, which is predicted to benefit the global market.

Browse Full Global Biopesticides Market Report with TOC:

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