The new report by Expert Market Research named, ‘ Global Biopesticides Market Report and Forecast 2023- 2028 ’, gives an in- depth analysis of the global biopesticides market value, assessing the request grounded on its parts like source, type, expression, action, crop type and major regions.
The report tracks the rearmost trends in the assiduity and studies their impact on the overall request. It also assesses the request dynamics, covering the crucial demand and price pointers, along with analysing the request grounded on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 3.5 Billion
- Forecast CAGR (2023-2028): 8.3%
- Forecast Market Size (2027): USD 5.6 Billion
In the historical period (2016-2020), the request for biopesticides has seen a definite growth due to a definite rise in the technological advancements made in the field of microbiology and agrarian lores. similar changes are anticipated to hold the overhead rise of this assiduity in the cast period 2023- 2028.
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The market has also seen a consistent rise due to increasing popularity of organic food, which has caused more land to come under organic cultivation and also caused international exports of organic food to grow. Since this is an ages-old practice’s revival, infused with scientific analysis, it can be helpful to have farmers adopt it.
Biopesticides Industry Definition and Major Segments
Biopesticides are organically set fungicides, which unlike synthetic fungicides, beget little to no pollution. They’re fairly cheaper and are useful for sustainable husbandry. The loftiest request share is in North America, where utmost of the biopesticide manufactories are present. The growth rate can be anticipated to be high in the Asia Pacific region in the cast period, because of limited pastoralist land and fleetly growing populations.
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Biopesticides can be obtained from different sources like:
- Beneficial Insects
On the basis of type, it can be differentiated into:
The biopesticides market can be divided on the basis of formulation into:
It may be differentiated by mode of action as follows:
- Foliar Application
- Seed treatment
- Soil treatment
It may be divided on the basis of crop type into:
- Cereals and Grains
- Oilseeds and Pulps
- Fruits and Vegetables
On the basis of regional markets, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Biopesticides Market Trends
Governmental regulations about pollution of the water- table and soil have caused numerous growers to switch over to biopesticides rather than use synthetic fungicides. Governments across the world have been investing plutocrat into the exploration of biopesticides and encouraging growers to use biopesticides by educating them on their correct operation. As similar, because of investment into exploration towards biopesticides, newer products are being developed. It’s anticipated that the request value as well as the growth rate will grow in the cast period of 2022- 2027.
Key Market Players
The major players in the market are Bayer AG, Certis USA L.L.C, Marrone Bio Innovations Inc., Andermatt Biocontrol AG, BASF SE, and Syngenta Crop Protection AG, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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