Biobased Pesticides are Estimated to Witness High Growth Owing to Environmental Concerns
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| Biopesticides Market |
Biopesticides are certain types
of pesticides derived from such natural materials as animals, plants, bacteria,
and certain minerals. They are an important component of integrated pest
management (IPM) programs, which focus on long-term prevention of pests or
their damage through a combination of techniques such as biological control,
habitat manipulation, modification of cultural practices, and use of resistant varieties.
Biopesticides are used in controlling pests that attack crops such as cereals
& grains, fruits & vegetables, and oilseeds & pulses.
The global biopesticides market
is estimated to be valued at US$ 6.2 Bn in 2023 and is expected to exhibit a
CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new
report published by Coherent Market Insights.
Market Dynamics
One of the key drivers for the
growth of the biopesticides market is the increasing adoption of organic
farming practices across various countries globally. Organic farming is a
production system which avoids or largely excludes the use of synthetically
produced fertilizers, pesticides, growth regulators, and livestock feed
additives. According to The World of Organic Agriculture 2022 report published
by Research Institute of Organic Agriculture, the global organic agricultural
land area grew by over two million hectares per year between 1999 and 2018.
North America and Europe together accounted for close to three-quarters of the
total organic agricultural land in 2018. The growth in organic farmland is
expected to drive the demand for biopesticides over the forecast period.
Further, biopesticides have lower
toxicity and are safe for non-target species such as animals and humans as
compared to chemical pesticides. They can be applied closer to harvest with no
requisite waiting period. Also, biopesticides naturally aid in the improvement
and maintenance of sustainable agriculture by preserving and improving soil
health, improving biodiversity above and below the ground, and enhancing soil
organic matter. These advantages offered by biopesticides as compared to
chemical pesticides are expected to spur their adoption across various crops
over the forecast period.
SWOT Analysis
Strength:
- Biopesticides are considered as
environment friendly alternative to chemical pesticides. They have lesser or no
residual effects on crops and cause less harm to non-target organisms. This
makes them safer for human and environmental health.
- Biopesticides help in
integrated pest management by controlling pests without disturbing biological
control agents and beneficial insects. This balanced approach aids in
sustainable agriculture.
- With growing consumer demand
for organic food and awareness about ill effects of chemical pesticides,
biopesticides market is witnessing increase in adoption from farmers worldwide.
Weakness:
- Limited product range and high
degree of specificity compared to broad spectrum chemical pesticides. This
makes them ineffective against broad range of pests.
- Short shelf life and
susceptibility to environmental conditions like sunlight, temperature
fluctuations. This increases storage and transportation challenges.
Opportunity:
- Stringent regulations on use of
toxic, persistent agrochemicals across regions provide growth opportunity for
biopesticide industry.
- Increasing investments in
research & development of novel biopesticides expands product portfolio and
widen their applications.
Threats:
- Dependence on living organisms
for pest control makes production difficult to standardize on commercial scale.
- Threat from genetically
modified crops that produce their own toxins to control pests. This may reduce
demand for certain types of biopesticides.
Key Takeaways
The Global
Biopesticides Market Share is expected to witness high growth over the
forecast period of 2023 to 2030. It is estimated to rise at a CAGR of 3.4%
during this time to attain the value of US$ 6.2 Bn by 2023.
Regional analysis: North America dominates currently owing to
stringent regulatory framework and growing organic farmland. Asia Pacific is
fastest growing market due to large agriculture sector and increasing awareness
in countries like India and China. The region is expected to witness highest
gains over the forecast period.
Key players: Key players operating in the biopesticides market are
Jansen Poultry Equipment, Petersime NV, Vencomatic Group, Big Dutchman
International GmbH, Valco Companies, Inc., TEXHA PA LLC, Hartmann
Lebensmitteltechnik Anlagenbau GmbH, and HAMEX-GROUP. They are focusing on new
product launches and expansion in high growth markets through partnerships.
Get More Insights Here
https://wotpost.com/optical-transceivers-enabling-high-speed-data-transmission/
https://www.newsstatix.com/biopesticides-market-size-share-growth-outlook-2023/
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