Biopesticides or biological pesticides provide management of pests through different chemical, predatory and parasitic ways. These are certain naturally occurring organisms nurtured to be used as pesticides to control harmful insects, organisms, fungus and bacteria. Different types of combinations and techniques are used for different types of crops. The global biopesticides market is witnessing healthy growth thanks to the rising demand from across the world and growth in the advanced farming technologies. Changing demand trends and rising growth rate of the industry is expected to create better business opportunities for the global market and especially for the established players in the industry. Experts are also suggesting positive environment for the companies interested in takeovers and mergers with smaller counterparts.
Segments in the Market
Researchers study the global biopesticides market on the basis of seven of its vital components. These components include the types of active ingredients available in the products, types of crops, types of products, basic applications of biopesticides, and demand for these products across different geographic regions. Analysis of all these components makes it easy for the companies to understand the prevailing trends and business drivers in the market. All the aforementioned components of the industry are categorized further into different sub-segments, as follows:
- Types: Biofungicides, bioinsecticides, bionematicides, bioherbicides and such other products
- Active Ingredients: Bio-rational and microbial ingredients
- Applications: Post harvest, on farm and seed treatment
- Crop Types: Arable crops, permanent crops and others
- Geography: Europe, North America, Latin America, Asia Pacific and RoW
Market Drivers for Biopesticides
According to the expert analysts, the global biopesticides market is strongly driven by the changing demand pattern in the global agricultural industry. Growth in the market for organic products is also a considerably strong driving force for the rising demand for this type of pesticides. The type of harvest flexibility and labor management that these products offer along with the low research development cost are also significant drivers for the market.
Rising global population and rising demand for food is also fueling demand for environment friendly products. Easy residue management provided by different types of biopesticides also makes them a versatile option in comparison with their counterparts. Growing use of plant essential and oil-based products, demand for organic agriculture and growth in the bio-control seed treatment solutions are also significant driving factors for the biopesticides industry.
Forecasting Reports from 2014
According to the reports, the market is expected to grow at a steady CAGR of over 15.8% during the next three to four year span of the study period. At the projected growth rate, the biopesticides market is expected to become worth more than $3.2 billion by the end of the year 2017. North American market is expected to dominate the global scenario with Europe emerging as the fastest growing region in terms of demand and applications. Rapidly changing stringent regulations in this region and growing use of organic products are considered to be the major driving factors for the region.