North America Biopesticide Market is expected to grow at a CAGR of 15.02% and reach USD 5.3 billion in 2026 from USD 2.1 million in 2021.
North America is one of the fastest-growing BioPesticides markets and is expected to witness a growth of 15.66% during 2020-2025. North America holds the largest share in the market due to the rise in demand for organic foods which depends upon chemical-free products to safeguard crops and human health. Trade of tussle is reduced between the region countries after introducing NAFTA. However, there is still a product price gap between the US and Canadian regions; increasing costs for the Canadian and Mexico growers.
BioPesticides are substances derived from naturally occurring materials like plants, micro-organisms, and certain minerals. The BioPesticides control diseases or pests through a broad-spectrum approach and even through a selective approach. 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 less toxic, comparatively cheaper, and effective than conventional BioPesticides.
Drivers and Restraints:
The high prevalence of crop diseases and rising demand for organic food are driving the North American market growth. Farmers are usually reluctant to change from the existing practices of chemical pesticides and also unaware of the benefits of BioPesticides which are restraining the growth of the market.
Biofungicide and bionematicide segments are anticipated to witness the highest growth in the global biopesticide market.
North America biopesticide market is consolidated with the following major companies, 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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