Biobased Pesticides are Estimated to Witness High Growth Owing to Environmental Concerns

 

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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