The report "Biopesticides Market by type (Bioinsecticides, Biofungicides, Bioherbicides, and Bionematicides), Origin (Beneficial insects, Microbials, and Biochemical), Mode of application, Formulation, Crop type & Region - Global forecast to 2020", The biopesticides market is projected to reach USD 6.6 Billion by 2020 and is expected to grow at a CAGR of 18.8% from 2015 to 2020
66 market data tables and 81 figures spread through 164 pages and in-depth TOC
- Global forecast to 2020”.
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The growth of the biopesticides market is primarily driven by the huge prevalence of crop diseases and growing demand for organic food in both developed and developing nations. Benefits offered by biopesticides compared to conventional pesticides, and the introduction of technologically advanced products also drives the biopesticides market. However, factors such as the lack of knowledge to the farmers regarding the benefits of biopesticides and reluctance among farmers to change the existing chemical crop protection practices are restraining the growth of this market.
European biopesticides market to grow at the highest CAGR during the forecast period
North America dominated the global biopesticides market. Europe is expected to be the fastest-growing market in the near future owing to the stringent regulations for pesticides and increasing demand from organic products. Developing countries such as China, India, Brazil, and Argentina are showing significant increase in the demand for the biopesticides products. Bioinsecticides dominated the biopesticides market with the highest share on the basis of type. Consumption of bioinsecticides has increased significantly due to its cost-effectiveness as well as its ability to be applied on a wide range of crops and targeted insects.
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Rise in demand of the organic food products to drive the biopesticides market
The area under organic crop cultivation is expected to rise because of the growing demand of organic food, a result of increasing health-consciousness among the people. This indicates that there is a huge scope for growth of the biopesticides market globally.
The report defines and segments the biopesticides market with analyses and projections of the market size of each of these segments in terms of value. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The key countries are covered and forecasted for each region. It also identifies the driving and restraining factors for the biopesticides market with an analysis of the trends, opportunities, burning issues, and winning imperatives.
The key market players profiled in this report are Bayers CropScience (Germany), BASF SE (Germany), Monsanto Company (U.S.), Isagro S.p.A (Italy), The Dow Chemical Company (U.S.), Marrone Bio Innovations Inc. (U.S.), Koppert Biological Systems (The Netherlands), and Valent BioSciences Corporation (U.S.) among others.
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