Biopesticides Market size is set to grow by USD 5.66 billion from 2022 to 2027, The demand for organic products to drive the market growth – Technavio

NEW YORK, Dec. 12, 2023 /PRNewswire/ — The global biopesticides market size is estimated to grow by USD 5.66 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 16.27% during the forecast period. The demand for organic products is a significant driving factor for the growth of the market. Organic pesticides are obtained from natural sources. Natural sources include animals, bacteria, minerals, and plants, whereas synthetic pesticides, on the other hand, are made artificially and contain various chemicals and harmful products. Furthermore, human consumption of inorganic food products also contributes to the degradation of the environment. Organic food is produced using reusable resources, which limit the usage of harmful pesticides and chemicals in food products and is usually observed that organic farming is practiced in small, family-run farms, where the utmost importance is dedicated to the quality of soil and water, ensuring fertile lands even for future generations. Hence, such factors fuel the market growth during the forecast period. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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Biopesticides Market – Segmentation Assessment
Segment Overview
This report extensively covers market segmentation by type (bioherbicides, bio fungicides, bioinsecticides, bionematicides, and others), product (natural products, microbial, microbial, and semiochemicals), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The market share growth by the bioherbicide segment will be significant for overall market growth during the forecast period. It is a type of pesticide that is widely used to kill and inhibit the growth of unwanted plants. Some of the main microbial agents used as pathogens in bioherbicides include bacteria, fungi, and viruses. Furthermore, another major driver is the growing focus on the cultivation of eco-friendly weed killers. Additionally, reduced chemical hazards, ease of residue management, and better quality and nutritional value of crops that are treated with bioherbicides are expected to contribute significantly to the growth of this market segment. Hence, such factors drive the segment growth during the forecast period.

Geography Overview
By geography, the global biopesticides market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global biopesticides market.

North America is estimated to account for 30% of the growth of the global market during the forecast period. Factors such as the simple registration processes for biopesticides, growing consumer preference for organic products, and rising awareness of the ill effects of synthetic pesticides on human health drive regional market growth. Furthermore, in 2020, the US and Canada constituted the largest biopesticides market in North America. Hence, such factors are expected to drive the regional market growth during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report Biopesticides Market – Market Dynamics
Leading trend driving market growth

Advances in biopesticide development are an emerging trend influencing market growth. To reconstruct the evolution of natural microbial enemies and disrupt the molecular basis for their pathogenicity, molecular-based technologies are used in research. This is carried out in order to understand how weeds fight with crops and develop resistance to herbicides and to identify the characteristics of the receptor proteins present in insects for detecting semi-chemicals. Hence, such trends boost the market growth during the forecast period. 

Major challenges hindering the market growth

Lack of awareness of the usage of biopesticides is a key challenge hindering market growth. Since they help decompose organic matter, control plant diseases, and release nitrogen, soil microbes are used in agriculture. A very popular microbe is bacteria due to their applicability in various agricultural sectors as biopesticides and biofertilizers.

They help in enhancing the nutrient transportation process, controlling disease outbreaks, and improving soil health. Furthermore, growing concerns like yield, food security, organic agriculture, and biopesticides gaining popularity are enhancing the market’s growth. But challenges such as a low adoption rate and lack of awareness limit growth. Hence, such challenges impede market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027) – Request a sample report!

What are the key data covered in this Biopesticides Market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the biopesticides market between 2023 and 2027Precise estimation of the size of the biopesticides market and its contribution to the market with a focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the biopesticides market across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of biopesticides market vendors

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Related Reports:

The organic pesticides market size is expected to increase to USD 4.48 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.02%.

The Global Agricultural Pesticides Market size is estimated to grow by USD 25,123.05 million and the size of the market is forecast to increase at a CAGR of 4.49% between 2022 and 2027. 

TOC

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizeFive Forces AnalysisMarket Segmentation by Typemarket Segmentation by ProductCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsCompany LandscapeCompany AnalysisAppendix

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SOURCE Technavio