The biopesticides market in Asia-Pacific is slated to post a volume CAGR of 17.94% during 2022 - 2027, it the fastest-growing region on a global basis. The market is valued at USD 1.66 billion in the year 2021 and expected to reach USD 3.5 billion by 2026.
Asia-Pacific holds the second largest market share. The market is driven by remarkable advancement in biotechnology which has witnessed a new growth paradigm. In terms of consumption and demand for BioPesticides, Asia pacific would remain the largest during the forecast period 2020 -2025 Asia Pacific is one the potential markets for the growth of BioPesticides. Asia-Pacific accounts for around 30% of the total land available on earth and around 60% of the total world population. The growing demand of food crops and a large population base fuels the BioPesticides market in the Asia Pacific region. Rising healthcare awareness in the Asia Pacific region leads to increase in organic food consumption, this also becomes one of the key reasons for the growth of the BioPesticides market.
BioPesticides are substances derived from naturally occurring materials like plants (plant-incorporated protectants or PIP’s), micro-organisms (microbial pesticides), and certain minerals (biochemical pesticides). The BioPesticides use both a broad-spectrum approach and even through selective approach to controlling diseases or pests. These are replacing conventional pesticides from the market due to their non-toxic quality and target specific behavior.
BioPesticides are advantageous for farmers as well as for the environment. They are usually inherently less toxic than conventional BioPesticides, they are comparatively cheaper and effective, decomposes well without leaving any harmful residues, have substantially nullified impact on non-targeted species and can greatly reduce the use of conventional pesticides with high yield.
Drivers and Restraints of Asia-Pacific Biopesticides Market:
Asia pacific market growth is driven by rise in demand for organic food and due to the high prevalence of crop diseases both in developed and developing regions. Various research centers all around the world are taking initiatives to improve techniques for the augmentation and application of BioPesticides. Farmers are unaware of the benefits of BioPesticides and also reluctant to change from the existing practices of chemical pesticides which are restraining the growth of the market.
Asia-Pacific Biopesticides Market - By Ingredients:
Asia-Pacific Biopesticides Market - By Microorganism’s Type:
Asia-Pacific Biopesticides Market - By Based on Crop Type:
Asia-Pacific Biopesticides Market - By Application:
Biofungicide and bionematicide segments are anticipated to witness highest growth in the global BioPesticide market.
Key players in the market are Parry America, Andermatt Biocontrol Ag, Marrone Bio Innovations Inc, Agbitech Pty Limited, Bioworks Inc., Som Phytopharma Limited, Camson Bio Technologies Limited, Hebei Veyong Bio-Chemical Co. Limited, Becker Underwood Inc., Agraquest Inc., Growth Products Limited, Valent Biosciences Corp, Biocare, Natural Industries and Novoenzymes A/S.
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