Discover 5 Top Biopesticides Market Solution in 2024: Key Statistics, Demand Analysis With Spherical Insights
RELEASE DATE: Oct 2024 Author: Spherical Insights Request Free Sample
Introduction
Biopesticides are the pesticides that are made from natural materials, such as plants, animals, bacteria, and specific minerals used by farmers in the control of agricultural pests as well as pathogens. Market share of biopesticides worldwide is expected to increase significantly in the near future as increasing awareness about disadvantages associated with conventional pesticides and growing demand for sustainable agriculture practices reach a head. Second, the general increase in government efforts toward the promotion of research and development work will also positively drive more market growth.
The report provides a summary of the global top trends and future prospects for the global biopesticides market based on historical data sets (current trends, industry statistics, and emerging trends shaping the biopesticides industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global biopesticides trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions.
Latest Trends
1. Rising Government Support and Initiatives to Fuel the Market Growth
The governments of many parts of the world have increasingly realized the harmful effects of the conventional use of pesticides. Biopesticides, which are the products of natural origin and direct target action, make a safer choice that is in line with the goals of governments towards environmental protection. The product is found to be safer than other conventional pesticides and hence in some countries requires less data and time in registration. For example, in India, the Central Insecticide Control Board and Registration Committee has simplified procedures for the registration of biopesticides compared with chemical pesticide registrations to boost the use of biopesticide products in agriculture.
2. Ever-rising Demand for Organic Food to Play a Crucial Role in Product Demand
Organic farming is increasingly presented as an ideal alternative to conventional techniques in reducing the overall impact on the environment. As such, the promising growth trajectory of organic agriculture practices will certainly benefit future growth of bio-based pesticides, given the higher demand for organic and natural plant protection products. According to the report by Organic Trade Association's (OTA) survey, the sales of organic products crossed USD 63 billion between the period of 2020-2021. It has seen an annual growth of USD 1.4 billion over the year, with food sales at about USD 57.5 billion. The heavy emphasis by governments and various other stakeholders on organic and sustainable modes of farming has increased the adoption of the product.
3. Phase-out of Key Chemical Active Ingredients to Support the Market Growth
Such huge and widespread environmental damage has been reported through the usage of synthetic pesticides. Therefore, several government organizations have banned or placed limitations on certain active chemical ingredients to avoid their negative impact on both the environment and human and animal health. Other than this, many administrations and government organizations are very amiable and designate funds to motivate the consumption of bio-based crop protection chemicals in order to reduce the environmental hazardous effects of pesticides. The growing sentiment against the use of chemical pesticides is probably to drive sales positively for other eco-friendly alternatives and will help promote the product.
List of Top Biopesticides Companies:
- BASF SE
- Syngenta AG
- Bayer AG
- Bioceres S.A.
- Novozymes
- Koppert Biological Systems
- Floridienne SA
- Gowan Group
- Sumitomo Chemical Co., Ltd.
- Certis USA LLC.
Key Industry Developments:
- In January 2024, India-based multinational UPL launched its bioinsecticide product Tackler, which could control pests on different crops. This novel product is from the fungus Beauveria Bassian.
- In January 2024, Simbiose, from Brazil, introduced the fungicide Frontier Control (Bacillus velezensis). Frontier Control is a microbiological fungicide with concentrated suspension formulation that allows delivering directly to the ground.
- In August 2023, US-based bioinsecticides company Vestaron Corporation raised USD 10 mln to advance new R&D plans in fresh projects of new biopesticides.
- In September 2023, Atlox BS-50, a UK speciality chemicals company, Croda International plc announced the launch of a biopesticide. The product is a ready-to-use powder for spore-forming microbes, which meets the demands in the growing biopesticide market.
- In April 2022, FMC Corporation is introducing its new brand of biopesticides, Biológicos da FMC, in Brazil. This new brand seeks new mechanisms of action and innovative solutions and raise productivity for sustainable agriculture.
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us