Biopesticides – A brief introduction
Biopesticides can be defined as certain types of pesticides that are derived from natural organisms or living beings such as animals, plants, bacteria and certain minerals. Biopesticides are found in nature and they tend to pose fewer risks than conventional chemicals when used for agricultural/horticultural purposes. In very small quantities, these biopesticides tend to break down very quickly and causes less pollution. Biopesticides are categorized into three types or classes such as – Biochemical Pesticides, Microbial Pesticides and Plant Incorporated Protectants (PIPs).
Biopesticides Global Markets and Their Growth-
Biopesticides global market is on the path of tremendous growth with its importance being recognized in reducing crop losses due to insects and diseases, changing farming practices and in providing solutions to pest resistance to various chemicals. Biopesticides are now used for high quality crop yield for fulfilling the food demands of growing global population and for meeting the requirements of organic food demand. In addition, emphasis on reducing the chemical residues in food and regulations to curb the use of synthetic pesticides undertaken by government authorities across the globe is resulting in the biopesticides market growth.
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A perspective view of biopesticides market analysis
The global biopesticides market value is projected to reach US $5.3 billion by the end of 2022 that was estimated to be valued US $1438.6 million in 2014 with a CAGR of 16.7% from 2014 to 2019. The major types of crops on which biopesticides are used include grains, oilseeds, fruits and vegetables including turf plantations, sugar crops, cotton and ornamental crops. By using biopesticides, farmers are able to improve the crop yield and quality of crops under challenging conditions.
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Biopesticides market by active ingredients is segmented into bioinsecticides, biofungicides, bionematicides and bioherbicides and each of these types are having a huge demand in the biopesticides global market. According to the biopesticides market report, the science and technology behind biopesticides is steadily improving thereby driving the development of new and effective products. In addition, the growth in demand organic fruits and vegetables due to an increasing awareness with regard to their nutritional benefits and the need for enhancement of crop productivity is helping in the growth of biopesticides market size. There is still lack of knowledge to the farmers about the benefits of biopesticides and therefore they are unwilling to change from existing chemical crop protection practices especially in developing nations of the globe.
Biopesticides Market Overview & Introspection-
The global market for biopesticides is still very small when compared with overall pesticides market due to lack of profitability that is needed to sustain in the market. Synthetic pesticides are still ruling the pesticides market due to cheap production costs when compared with biopesticides. Therefore, for the existing players there exist enormous biopesticides market opportunities due to rapid adoption rate of biopesticides especially in the developed economies. As of now, North America leads the overall market for biopesticides with the United States of America constituting the largest country specific market in North American region in 2015.
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Asia-Pacific region is the other emerging market for biopesticides as it holds 30% of the total land available on earth with around 60% of total world population. The growing demand for food crops and large population to feed fuels the biopesticides market in Asia-Pacific region. China occupies the largest biopesticides market share in Asia-Pacific region with India coming next with a huge potential for the growth of biopesticides industry. The Indian biopesticides market value is hovering around US $23.92 million in 2015 that is expected to increase in the coming decades due to constructive public support policies of the Indian government.
The growing research funding is expected by key players in the biopesticides market is expected to result in the development of new and effective products in the coming decades. The key players or companies in biopesticides market include multinational entities such as:
- Som Phytopharma Limited
- Parry America Incorporation
- Bayer AG
- Dow Agro sciences Inc.
- Koppert B.V.
These companies adopt numerous marketing strategies and developments such as research and development practices, mergers and acquisitions, agreements and expansions to bring in new biopesticides products into the market from the initial supply stage through various phases of production to its final market destination.