$6.4 Bn Biopesticides (Bioinsecticides, Biofungicides, and Bionematicides) Market – Global Forecast to 2023

DUBLIN–(BUSINESS WIRE)–Apr 1, 2019–The “Biopesticides Market by Type (Bioinsecticides, Biofungicides, and Bionematicides), Source (Microbials, Plant Extracts, and Beneficial Insects), Mode of Application, Formulation, Crop Application, and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The biopesticides market is estimated at USD 3.0 billion in 2018 and is projected to grow at a CAGR of 15.99%, to reach USD 6.4 billion by 2023.

The growth of the biopesticides market is driven by the advancements in integrated pest management solutions and increasing adoption of organic farming among farmers. The key drivers for market growth are the advancements in integrated pest management solutions. The continuous and extensive use of modern crop protection products to eliminate or reduce pest infestation has led to the development of resistance among pests to conventional crop protection products. This resistance can be classified into metabolic resistance, target-site resistance, penetration resistance, and behavioral resistance.

Biopesticides are predominantly used in the form of bioinsecticides. Bioinsecticides include biocontrol agents – microbial and plant-based products, such as neem. Viruses, bacteria, fungi, protozoa, and mites are employed to control a variety of insects that affect both plants and animals. Although insects are attacked and affected by a large number of microorganisms, only a limited number of them have found commercial application.

The fruits & vegetables segment held the dominant market share in the biopesticides market, based on crop application.

Based on crop application, the fruits & vegetables segment is projected to hold the largest market share during the forecast period. Fruits & vegetables have emerged as a key application area for bionematicides and have become essential in their use in high-value fruits & vegetables to enhance their export quality and reduce chemical residue levels. Grapes, citrus fruits, and bananas are the main fruit crops; while tomatoes, potatoes, bell peppers, hot peppers, cucumbers, sweet potatoes, and eggplants are the main vegetable crops wherein bionematicides are used.

The European market is projected to be the fastest-growing market for the period considered for this study, due to strong potential for growth, given the large-scale production and increase scrutiny and bans on chemical pesticides in the region. In addition, biopesticides consumption ranked second in the region which is driven by the strong demand for organic food products among consumers in the European region. Regulation (Ec) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 Increase in the Demand for Biopesticides for High-Value Commercial Crops has Led to the Demand for Bacillus Thuringiensis High Availability of Beauveria Bassiana Naturally in the Soil is One of the Major Advantages for Its Simpler Isolation Process for Production and Also Holds High Demand as A Bioinsecticide Product Launches Based on Verticillium Lecanii From Many Key Players has Increased in the Recent Years Effect of Metarhizium Anisopliae on A Broad Spectrum of Insects has Been A Major Interest for Manufacturers High Adaptability of Trichoderma Harzianum, to All Types of Soils, Led to Increased Demand as A Biofungicide in Addition to Improving Root and Shoot Growth, Trichoderma Viride Also Provides Protection Against Pests Increased Need for Biological Nematicide Control has Increased the Demand for Paecilomyces Lilacinus-Based Agents Use of Bacillus Firmus as an Effective Bionematicide for Different Crop Types has Improved Its Demand

7.2.1 Target-Specific Action on Crop Damaging Pests has Been A Major Attribute for Microbial Application

7.3.1 Combined Benefits of Plant Health and Protection has Been Significant Factor for the Strong Interests Among Manufacturers to Develop these Products Ease of Use and Effectiveness of Suspension Concentrates as Compared to Other Types of Liquid Formulations Emulsifiable Concentrates Allows Uniform and Accurate Application of Active Ingredients on the Crop Dry Granules, Used for Slurry Preparations, Would Release Lesser Dust as Compared to Other Dust Formulations Water-Dispersible Granule (WDG) Formulations are of Much Importance for Seed Treatment Applications Wettable Powders Holds Significant Demand for Its Good Shelf Life and Low Cost But Can Also Cause Occupational Hazard for the Farmers Growing Corn Demand for Industrial Applications has Allowed Producers to Adopt Both Conventional and Biological Pesticides to Gain Better Market Price and Reduce Pesticide Resistance Organic Farm Industry has Been A Factor for the Adoption of Biopesticides for Sunflower Crops in Eastern Europe Biopesticides Have Been Significant for the Protection of Leafy Vegetables Against Soilborne Pathogens Such as Pythium Spp. and Rhizoctonia Spp Adoption of Ipm and Organic Practices for the Export of Berries, Especially in the European Region, Increased the Demand for Biopesticides Biopesticides Application Through Foliar Spray has Been Acquiring Significant Traction Among Citrus Fruit Growers in Tropical Regions

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Post time: Apr-28-2019
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