Biopesticides Market Growth Accelerated by Environment-Friendly Attributes
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| Biopesticides Market |
Biopesticides are certain types
of pest control agents that contain active ingredients from biological sources,
such as bacteria, fungi, viruses, or naturally occurring substances like
chemicals from certain plants. Biopesticides help control plant pests and
diseases through various means including antibiosis, competition, or parasitism
and provide effective and environmentally friendly alternatives to chemical
pesticides. Some common types of biopesticides include beneficial nematodes,
bacterial pesticides, insect growth regulators, and pheromones. Their ability
to control plant diseases with minimal human or environmental hazard makes them
an attractive option for plant health management programs worldwide.
The global biopesticides market
is estimated to be valued at US$ 2.5 Bn
in 2023 and is expected to exhibit a CAGR
of 3.4% over the forecast period 2024 to 2028, as highlighted in a new
report published by Coherent Market Insights.
Market Dynamics:
Increasing concerns over effects
of synthetic chemical pesticides and growing demand for organic food are some
of the major factors driving growth of the global biopesticides market.
Chemical pesticides leave residues and have potential toxic effects on the
environment and non-target organisms. However, biopesticides act specifically
against the target pest and are less toxic as they are derived from natural
materials and organisms. Their use helps reduce negative externalities
associated with synthetic chemical use in agriculture. Furthermore, rapid
growth of the organic farming sector worldwide is creating significant
opportunities for biopesticides as they are crucial for integrated pest
management in organic farming systems.
SWOT Analysis
Strength: Biopesticides are
considered environment-friendly as they are made from natural materials like
animals, plants, bacteria and certain minerals. They decompose quickly and do
not leave harmful residues. Biopesticides are also more target-specific than
chemical pesticides as they are made from natural materials to which the target
pest species is susceptible.
Weakness: Biopesticides need to
be applied more frequently than chemical pesticides for effective control of
pests as they decompose quickly. Their production processes can be expensive
which results in their higher costs compared to chemical pesticides.
Opportunity: Increased consumer
awareness about environmental and health hazards of chemical pesticides
provides growth opportunities for biopesticides. Government support in many
countries for use of eco-friendly alternatives to chemical pesticides also
offers potential opportunities. Research in developing new biopesticides with
better stability and more target-specific action also presents opportunities.
Threats: Limited effectiveness
compared to chemical pesticides leaves room for pests developing resistance.
Unfavorable weather conditions adversely impact biopesticides' performance.
There is lack of adequate research and development infrastructure in some
regions.
Key Takeaways
The Global
Biopesticides Market Share is expected to witness high growth over the
forecast period of 2024-2030.
The Asia Pacific region currently
dominates the market and is projected to maintain its lead position during this
period. China, India and other Southeast Asian countries provide immense
opportunities due to their large agriculture sector and rising pest issues.
Growing organic farming in countries like India is supporting biopesticides
demand in the Asia Pacific region.
Key players operating in the biopesticides market are Bayer AG,
Syngenta, BASF, Marrone Bio Innovations, Isagro, Valent BioSciences, Certis
USA, Andermatt Biocontrol, FMC and Bioworks. These players are involved in new
product launches, expansion of manufacturing facilities and collaborations to strengthen
their market position.
Get More Insights Here
https://techaxen.com/medicine-testing-services-in-the-us-ensuring-product-safety-and-compliance/
https://www.newswirestats.com/biopesticides-market-size-share-growth-outlook-2023-2/
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