The Bio Pesticide Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Bio Pesticide Market is estimated to be $3.14 USD billion and predicted to rise to $ 6.77 USD billion with a CAGR of 16.6%. The market is segmented by Crop Type (Permanent Crops, Arable Crops, Forage & Turf grasses, Greenhouse Crops) by Ingredients (Biochemical Pesticides, Plant Pesticides and Microbial Pesticides) by Microorganismâ€™s Type (Bioherbicides, Biofungicides, Bionematicides and Bioinsecticide), by Application (Seed Treatment, On Farm and Post-Harvest). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the biopesticides market is primarily driven by the high prevalence of crop diseases and growing demand for organic food in both developed and developing nations. The usage of biopesticides can greatly decrease the use of conventional pesticides without affecting crop yields in the Integrated Crop Management (ICM) and Integrated Pest Management (IPM) programs. On the other hand, the low shelf life of the product is a major concern for producers and serves to hamper market growth.
Bioinsecticides, biofungicides and bionematicides are rapidly growing market segments that are expected to fuel demand for biopesticides in the coming years. Globally, the demand for nature-based biopesticides is on the rise due to increased environmental awareness and health hazards from many conventional pesticides.
Asia Pacific is one the potential markets for growth of biopesticides. Growing demand of food crop and large population base fuels the biopesticides market in Asia Pacific region. In North America, the U.S. holds the largest market of biopesticides. New product introductions in biopesticides and government regulation also help in the growth of biopesticides market in Europe.
Global bio pesticide market is consolidated with the following major companies operating in the market, these 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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