The Atlantic Report

Biopesticides Market is estimated to exceed 230 kilo tons by 2024: Global Market Insights, Inc.

Biopesticides Market is estimated to exceed 230 kilo tons by 2024: Global Market Insights, Inc.

Key industry participants within biopesticides industry include ADAMA Agricultural Solutions, DuPont, Syngenta, Dow Chemical, Koppert, Valent BioSciences Corporation, BASF, Nufarm Limited, Valent BioSciences Corporation, Bioworkers Inc., Bayer Cropscience Limited, and Futureco Bioscience.
Biopesticides Market by Product (Bioherbicides, Bioinsecticides, Biofungicides), By Application (Seed Treatment, Foliar, Soil Spray), By Crop (Grains & Oil seeds, Fruits & Vegetables), By Form (Dry, Liquid), By Source (Microbial, Biochemical), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024

Biopesticides market is poised to witness significant gains with the escalating demand for healthy crop generation. The industry has been evolving at a rapid pace, which is quite evident from the growing consumer preferences for organic food and demand for eco-friendly crop protection pesticides. Another prominent driver influencing global biopesticides market growth is the declining availability of arable land. This has encouraged the farming sector to use more eco-friendly pesticides over chemicals, as the carbamate, organophosphorus, and halogenate present in chemical pesticides can lead to land and water contamination. In addition, the enforcement of strong policies against the use of synthetic pesticides has also widened the acceptance of biopesticides and given a positive push to biopesticides industry share. As per a report by Global Market Insights, Inc., global biopesticides market size stood at USD 1.8 billion in 2016 and is projected to surpass a revenue generation of over USD 2.5 billion by 2024.

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Accounting for more than 35% of the global industry share, North America biopesticides market is set to witness profitable growth prospects over the coming seven years. Strict norms and regulations toward food safety and higher demand for organic food has contributed to the regional market expansion. U.S. is one of the leading countries involved in fortifying the regional biopesticides industry share, having generated a revenue of USD 550 million in 2016.

Several countries are adopting stringent approaches, when it comes to using synthetic pesticides. Regional governments have been laying a ban on several toxic pesticides which are harmful for consumers and the environment as well. To promote the consumption of bio-based products over synthetic counterparts many European countries have initiated national programs. One such initiative called “Ecophyto 2018” was commenced by France with an aim to reduce the use of synthetic pesticides to 50% by 2018. Another country following the trail is Denmark, which initiated the scheme called “Green Growth”. This scheme apparently offers financial help to develop eco-friendly alternatives for plant protection, which can help in cutting down the use of chemical pesticides.

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Microbial sources of biopesticides is gaining considerable traction as they are safe to use in all the stages of plant growth and are non-toxic. On that note, fungi, viruses, bacteria, yeast, and protozoa are the various microbial sources which are used in biopesticides.

Biopesticides come in both liquid and dry formulations. The liquid formulation is estimated to be the fastest growing market at a rate of 6.2% over 2017-2024, owing to the products’ increased shelf life and ease of storage.

Fruits & vegetables, in 2016, was one of the prominent segments, contributing to 70% of the overall biopesticides industry revenue. Owing to consumers demanding better crop safety, biopesticides are heavily used in organic farming. Moreover, consumers today also demand pesticide-free fruits and vegetables to avoid any food contamination and food related disorders, which will spur biopesticides industry growth from fruits & vegetables. Furthermore, the non-toxic nature and high crop yield properties of bio-controlled pesticides have generated a bigger market for the seed treatment application, which generated a valuation of over USD 130 million in 2016. Foliar spray is another application segment expected to boost biopesticides industry growth. This segment contributed to more than 75% of industry share in 2016 and is anticipated to exhibit a lucrative growth path.

Browse key industry insights spread across 270 pages with 415 market data tables & 12 figures & charts from the report, “Biopesticides Market Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/biopesticides-market

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Humic Acid Market size was recorded at over USD 400 million in 2016 and will witness growth at a CAGR above 12%. Rapidly growing global population and their nutritional demand decreased the arable land ratio to less than 0.2 hectares for a single person by 2013. As per a WHO report, world agricultural yield must be increased by at least 50% per hectare to meet the growing demand for food. By the end of 2030, global food demand will rise by 35% and majority of this demand must be met by increasing crop yield.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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