Global Biopesticides Market is Estimated to Reach $5 Billion by 2025, Says Accurize Market Research
Global biopesticides market report published by Accurize Market Research forecast that the global market is expected to reach $5 billion by 2025; growing at a CAGR of 8.7% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing consumer awareness drives the growth of the market
Increased knowledge among the end-users as well as advancements in biotechnology and bio-pesticide technologyfuel the demand for the global biopesticides market. Moreover,encouragement for organic farming from various government organizations and R&D for advanced farming innovationsalso boost the growth of the market.
The global biopesticides market has been bifurcated on the basis of product type, active ingredient type, crop type, application and geography. By product type, it is segmented into bioinsecticides, biofungicide, bionematics and bioherbicide. Active ingredient type can further be segmented into microbial pesticides, plant-based pesticides and biochemical pesticides. Crop type is segmented into permanent crops, arable crops and others. Furthermore, applications are segmented into seed treatment application, on-farm application and post-harvest.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Spain and others. Asia-Pacific covers China, India, Japan and others. Rest of the World (RoW) covers South America, Middle East and Africa.
“Bioherbicides and bioinsecticides accounted for the largest market share in the product type segment", says Accurize
By product type segments, bioherbicides and bioinsecticides accounted for the key share of 37% and 32%, in the year 2017. Furthermore, in active ingredients segment, microbial pesticides hold the maximum market share with 58%, followed by biochemical pesticides with 26%, in the year 2017.
“Asia-Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia-Pacific is the fastest growing region in the global biopesticides market and is expected to continue this trend owing to increasing population in emerging economies and promotions by various NGOs and government organizations to promote organic farming and to use bio-control products. In 2017, North America accounts for the largest share in the market with 42% followed by Asia-Pacific with 31 %.
Top players in the market
The key market players include IsagroSpA, San Jacinto Environmental Supplies, BioWorks, Inc, Troy Biosciences, Inc., Bayer CropScience Ag, GreeNeem, Sibbiopharm Ltd., Syngenta Bioline Ltd. Dow AgroSciences LLC and AgBiTech Pty Ltd, among others.
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