NEW YORK, Jan. 17, 2022 /PRNewswire/ -- The biopesticides market is expected to grow by USD 4.46 billion between 2020 and 2025, progressing at a CAGR of almost 17% during the forecast period.
The market is driven by the increase in pest activities due to global warming. The rise in carbon dioxide levels in the atmosphere is increasing the simple sugars present in leaves. This is increasing the damage caused by insects that consume leaves. Also, the rise in global temperature is creating suitable conditions for pests to survive even in the winter season. In addition, factors such as increased risks by the migration of pests, reduction in the effectiveness of crop protection technologies, and increasing pesticide resistance are driving the demand for biopesticides that can adapt to changing climatic conditions.
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As per Technavio, the demand for organic products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Biopesticides Market: Demand for organic products
Synthetic pesticides used in agricultural practices can make their way into the human body and can cause various health issues. Also, human consumption of inorganic food products contributes to the degradation of the environment. However, with growing health consciousness coupled with increased disposable incomes, the demand for organic food products is gaining prominence across the world. In addition, many government authorities across the world are encouraging organic farming practices through funding, which is attracting new players into the market. This trend is expected to have a positive impact on the growth of the global biopesticides market during the forecast period.
"The advancements in biological pest control measures will further accelerate the growth of the market. However, the lack of profits and risks involved in organic farming might reduce the growth potential in the market," says an analyst at Technavio.
Biopesticides Market: Segmentation Analysis
This market research report segments the biopesticides market by type (bioherbicides, biofungicdes, bioinsecticides, bionematicides, and others), product (natural products, microbials, macrobials, and semiochemicals), and geography (North America, Europe, APAC, South America, and MEA).
By type, the market observed maximum demand for bioherbicides. Similarly, by product, the natural products segment accounts for a major share in the market.
North America led the biopesticides market in 2021, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth and offer several growth opportunities for vendors. The growth of the market in North America is driven by improvements in biological pest control methods. The US is the key market for biopesticides in North America.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
Related Reports:
Agricultural Pesticides Market by Type and Geography Forecast and Analysis 2022-2026
Crop Oil Concentrates Market by Application and Geography - Forecast and Analysis 2022-2026
Biopesticides Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17% |
Market growth 2021-2025 |
USD 4.46 billion |
Market structure |
Fragmented |
YoY growth (%) |
14.58 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 30% |
Key consumer countries |
US, Germany, China, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
BASF SE, Bayer AG, FMC Corp., Isagro Spa, Marrone Bio Innovations Inc., Novozymes AS, Nufarm Ltd., Sumitomo Chemical Co. Ltd., Syngenta AG, and UPL Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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