Biopesticides Market Growth Accelerated by Environment-Friendly Attributes

 

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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