New York, Sept. 01, 2020 (GLOBE NEWSWIRE) -- The global Biopesticides Market is forecast to reach USD 10.11 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the biopesticides Market to maintain a stable growth rate over the forecast period. The manufacturers of organic insecticides are launching new products and collaborating with prominent brands in order to strengthen the market.
Due to the pandemic, there are high chances of disruption in the supply chain, ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the biopesticides market. Though food demand is inelastic, but there can be a change in the dietary patterns of the consumers. While the above reasons can lead to a negative impact, but the inelasticity of demand for food will significantly result in the growth of the industry. Due to the COVID-19, the manufacturers of the biopesticides are adopting safety regulations and strategies, which may result in the industry's growth over the forecast period.
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The COVID-19 impact:
With the outbreak of the coronavirus, WHO encourages people to take more aggressive steps to prevent the widespread of the virus and to abide by the rules and regulations created by the respective governments of each country. The farmers and the manufacturers of the biopesticides industry have been widely affected by the disruptions in the supply chain and influence ingredients and raw materials. To prevent the transmission of the COVID-19 virus, lockdowns have been announced worldwide, which is hampering the transport of raw materials, thus obstructing the production. The COVID-19 pandemic also created a raw material price volatility for the manufacturers of the Biopesticides products. The complete lockdown all over the world is causing a disturbance in the trade operations of the products. The pesticide value chain is directly affected by the lockdowns. The manufacturers of the biopesticides are depending on the raw materials which were kept for emergency purpose. The raw materials will be soon over pertaining to the current situation and the probable continuation of the lockdown.
Further key findings from the report suggest
- The bioinsecticides segment held a significant share in the market. It is environmentally friendly and helps the crops get rid of the harmful insects and not from the beneficial insects. The growing concerns among consumers regarding the environmental hazards caused by chemical pesticides, an increasing number of resistant pests, and high chances of insect-based infections have boosted the bioinsecticides industry.
- Based on the type of crops on which the biopesticide is applied, the fruits and vegetable segment registers the highest growth capturing almost 52.6% of the market mainly due to the increasing production of fruits and vegetables globally and increasing adoption of organic farming.
- North America has the highest adoption rate in the market and has registered a revenue of about USD 1.45 billion in 2019. The easy registration process for the bioinsecticides manufacturers initiated by the EPA has resulted in the entrance of many new manufacturers in the industry. The increasing interest in green agricultural practices and the strict government actions towards excessive use of chemical insecticides have driven the growth of the industry in the region. Both Asia-Pacific and North America are expected to anticipate significant growth over the forecast period.
- The biopesticides market participants are adopting some wiser strategies in order to stay competitive in between the growing demand of the product. Collaborations have been observed between prominent brands in order to increase their product portfolio and enter new markets. In order to hold the position of the products in the competitive market, companies are adopting effective marketing and branding strategies.
- Key participants include Valent Biosciences LLC, Koppert Biological Systems, Bayer CropScience AG, Syngenta AG, Marrone Bio Innovations, Andermatt BioControl AG, Stockton BIO-AG Technologies, International Panaacea LTD, Certis USA L.L.C and BASF SE, among others.
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For the purpose of this report, Reports and Data have segmented the global Biopesticides Market on the basis of product type, crop type, mode of application, source, formulation and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Bioherbicides
- Bioinsecticides
- Biofungicides
- Bionematicides
- Others
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Fruits & Vegetables
- Cereals & pulses
- Grains & Oilseeds
- Others
Mode of Application Outlook (Revenue, USD Billion; 2017-2027)
- Seed treatment
- Foliar spray
- Soil treatment
- Others
Source Outlook (Revenue, USD Billion; 2017-2027)
- Biochemical
- Microbial
- Beneficial Insects
- Others
Formulation Channel Outlook (Revenue, USD Billion; 2017-2027)
- Liquid Formulation
- Dry Formulation
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biopesticides-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
Take a Look at our Related Reports:
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Metominostrobin Market: This is a fungicide that has been discovered only two and a half decades back in 1996 and is commonly used in the farming business under the name ‘strobilurins.’ It is popularly used to prevent and restrict fungal attacks on rice, soya beans, wheat, kidney beans, cotton, and corn.
Fertilizer Additives Market: The Fertilizer Additives market is noticing the increase in the demand for agricultural commodities and adapting R&D frequently in fertilizer manufacturing technology. Due to the modification of technology and the increase in the understanding, application, and handling of fertilizers are becoming easier nowadays.
Biological Organic Fertilizer Market: This industry is comparatively new and has achieved a substantial section of the agricultural market. According to our analysts, the expected CAGR of the Biological Organic Fertilizers market by the end of the year 2027 is more than 14%.
Gibberellins Market: Gibberellin, a kind of phytohormone, is beneficial in regulating plant growth and development. The product finds usage to end dormancy of seeds, and this state of dormancy must be broken to enable the germination of seeds. Fruit and vegetables are significant components in providing a healthy diet to people across the globe, and their sufficient consumption on a daily basis may be beneficial in the prevention of major diseases, including certain types of cancers and cardiovascular diseases.
Biochar Market: Escalating demand for biochar as livestock feed is likely to drive the growth of the market. Methane produced from the ruminants of the animals is considered a significant reason for greenhouse gas emission, and therefore, has garnered the attention of researchers to find ways to mitigate its formation.
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