This study intends to analyse all aspects of the global biopesticides market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline.
Growing Awareness of Environmental Concerns to Fuel Progress for the Global Biopesticides Market
Biopesticides are inherently less toxic in nature and tend to affect a target pest and/or related organisms as opposed to conventional pesticides that usually affect organisms such as insects, mammals, and birds. Furthermore, biopesticides have a lower pollution quotient as they tend to be effective in smaller quantities and rapidly decompose. These factors are expected to play a pivotal role in boosting global biopesticides market growth prospects. According to the U.S. Environmental Protection Agency (EPA), biochemical pesticides are specific pesticides derived from natural sources, such as bacteria, plants, animals, and certain minerals. They are naturally occurring substances that control pests by non-toxic mechanisms. The other biopesticide class, biochemical pesticides include various scented plants that attract insect pests to a trap, and substances that interfere with mating such as insect sex pheromones. Microbial pesticides consist of a microorganism as the active ingredient. For instance, there are fungi that eliminate specific insects and control specific weeds. Moreover, plant-incorporated protectants (PIPs) are substances that plants produce from genetic materials added to a plant. It is also due to these concerns that market players are now more focused on investing greater sums in R&D initiatives to develop products that are as effective as they are less harmful to the environment. Another crucial factor to be accounted for is the steady surge in population figures across the globe. This is leading to robust urbanization and a higher demand for consumable produce or grain that has been ethically grown and harvested.
COVID-19 Impact on Biopesticides Market
With the onset of the COVID-19 pandemic, the imposing of restrictions by respective governments on the movement of people and goods, as well as the hampered supply of necessary raw materials, among other operational hurdles, resulted in a significant decline in generated revenues for several industries. The biopesticides market was no exception. However, as restrictions were gradually relaxed, post the 3rd and 4th respective waves, this global market began to regress to its pre-COVID state of operations.
Increased Adoption of Organic Farming Practices Impacts Biopesticides Market
More effective channels of knowledge sharing, and communication have led to a greater understanding of the benefits of organic farming practices and the importance of leading healthier lifestyles. This is a major factor that has begun to take precedence for many individuals, in turn augmenting this global biopesticides market in the process. Additionally, the consumption of chemically active ingredients present in conventional pesticides has been found to increase the likelihood of developing certain chronic conditions such as cancer. This is another factor that is expected to create growth opportunities in the global biopesticides industry in the years to come.
Technological Limitations of Biological Products to Play out as a Deterrent Facing Biopesticides Market
A significant limitation when the use of biological products is concerned is the short or limited shelf life of these products. This limitation in shelf life could be attributed to various biotic and abiotic stress factors. Other factors that could negatively influence shelf-life include temperature maintenance when stored, exposure to sunlight, the physiological state of microorganisms when harvested, as well as water activity of inoculants. Moreover, biological products are also highly susceptible to contaminants. These major factors could potentially hinder the further growth of the global biopesticides market.
North America to Continue Retaining Primacy in Global Biopesticides Market
Owing to North America’s long history of responsibly using pesticides, this region has become a major exporter and end-user of biopesticides over the last few decades. Moreover, there are stringent regulations and guidelines imposed on the use of synthetic crop protection chemicals in this region. This element has fostered efforts to develop and implement suitable alternatives to ensure compliance. Additionally, farmers in this region are being compelled to use sustainable crop protection solutions due to a steady increase in the demand for organic products and produce. This is another major factor that has further contributed to the augmentation of this regional market. The biopesticides market in Europe and the Asia Pacific, more specifically China, followed North America, in terms of consumption and export. Moreover, Europe is slated to index the highest CAGR over the forecast timeline due to increasing emphasis being placed on the adoption of organic farming practices, as well as a higher number of initiatives being implemented by respective governments in this region to promote the use of biocontrol solutions/products.
Biopesticides Market: Competitive Landscape
Major players in the Biopesticides Market include BASF SE, Syngenta AG, Bayer CropScience, Marrone Bio Innovations, Novozyme, Koppert Biological Systems, BioWorks Inc., Gowan Group, Sumitomo Chemical Co. Ltd., The Dow Chemical Company, and Certis USA LLC, to name a few. As a means of gaining a competitive edge, various established industry players are more focused on new product launches, partnerships, collaborations, acquisitions, and alliances.
Recent Notable Developments
The Global Biopesticides Market is Segmented Accordingly:
By Product
By Application
By Form
By Crop
By Source
By Region
Key Elements Included In The Study: Global Biopesticides Market
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