Market Trends of biopesticides Industry
This section covers the major market trends shaping the Biopesticides Market according to our research experts:
Biofungicides is the largest Form
- Biopesticides are made from natural materials such as animals, plants, bacteria, and certain minerals. They are used to control pests in an environmentally friendly way by harnessing natural mechanisms of control. Biopesticides are often selective, and they target specific pests, thereby reducing the impact on non-target species and the environment. Biopesticides are also typically less toxic to humans and animals, and they break down more quickly in the environment.
- Biofungicides are the most popularly used biopesticides. They held a market share of 47.6% in 2022. Bacillus, Trichoderma, Streptomyces, and Pseudomonas are the most commercially used species of microorganisms in agriculture. These biofungicides effectively act against pathogens, such as Pythium, Rhizoctonia, Fusarium, Sclerotinia, Thielaviopsis, Botrytis, and powdery mildew.
- Bioinsecticides accounted for 27.9% of the global biopesticides market in 2022. There are several pests that cause devastating losses to specific crops in each season, which can be effectively controlled by using target-specific bioinsecticides. For instance, cotton is an important cash crop grown globally. The cotton bollworm pest affects the yield of cotton plants, irrespective of the region. Bacillus thuringiensis, a commercially important bioinsecticide, is known to effectively control this devastating pest that can cause potential yield losses of 30-90%.
- The effectiveness of biopesticides in controlling target-specific pests and diseases with no harm to the environment and animals is expected to drive the global market for biopesticides. The biopesticides market is estimated to register a CAGR of 11% during the forecast period (2023-2029).
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North America is the largest Region
- Biopesticides are used to control pests in an eco-friendly way by harnessing natural control mechanisms. Biopesticides are often selective and target specific pests, reducing the impact on non-target species and the environment. Asia-Pacific and North America were the most biopesticides-consuming regions in 2022.
- The Asia-Pacific region, which is home to large agricultural countries like China and India, has seen significant growth in organic farming. This growth has been driven by rising demand for sustainable and healthier food options and increased awareness about the harmful effects of conventional pesticides. The organic crop area in the region increased from 3.1 million hectares in 2017 to 3.6 million hectares in 2021, representing a growth of 15.5% during the period.
- North America is the second most biopesticides-consuming region, and it had a share of 38.5% in 2021. The demand for organic food in the region is growing rapidly. The average per capita spending on organic food products in North America was recorded as USD 109.7 in 2021. Farmers of the region are adapting to new biological technologies at a faster pace. The trend toward sustainable agriculture is expected to drive the usage of biopesticides in the region.
- Government initiatives and promotion of organic farming in different regions further intensify this trend of sustainable approaches. For instance, the European Commission has unveiled an action plan to increase the organic area in the member countries to occupy 25.0% of the region's agricultural land area by 2030. Government authorities in South American countries like Peru and Argentina have banned the usage of chemical pesticides, thus driving the South American biopesticides market.
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