- The global market for biopesticides is projected to reach $3.4 billion by the year 2017. Growth will primarily be driven by growing environmental concerns and politically influenced regulatory riders imposing restrictions on the use of traditional products
The world market for biopesticides is projected to reach $3.4 billion by the year 2017. Growth will primarily be driven by growing environmental concerns and politically influenced regulatory riders imposing restrictions on the use of traditional products, such as, endosulfan, azinphosmethyl and methyl bromide. Most importantly, growing public awareness on the long-term impact of conventional toxic pesticides on human health and the huge hidden costs associated with it will drive consumer demand for food grown with natural or organic pesticide alternatives.
As next generation of pest control products, biopesticides is gaining in popularity. With food supplies in most countries testing positive for violative pesticide residues, the business case for biopesticides is strengthening by the day. Demand is also growing supported by tightening regulations on pesticide residues, especially in developed regions, such as in Europe and North America. Today, U.S. EPA approves more number of biopesticides annually as compared to conventional chemicals. The number of active ingredients and products registered with EPA is now substantially higher than in the year 2001. In North America and Western Europe, the biopesticides market is growing rapidly, due to growing importance for organic farming and chemical-free crops. In the two regions, the demand for biopesticides including beneficial insects, biochemical pesticides and microbial biopesticides, is projected to significantly increase in the coming years. In Europe, implementation of modified plant protection regulatory system would lead to non-availability of several active substances for crop protection. Such implementation would potentially extend a major threat to the commercial growing of field vegetables and inurn would extend higher demand for biopesticides in the region.
With the growing acceptance of biopesticides as an efficient crop protection alternative with eco-friendly footprint, several leading agrochemical companies are increasingly leaning towards biopesticides sector. With increasing demand for biopesticides noticeably eating into the market share of their conventional pesticide products, the major companies are readily willing to include biopesticides in their portfolio. Majority of the companies are seen forming licensing agreements with startup companies or acquiring products rather than investing in R&D projects.
As stated by the new market research report on Biopesticides, the U.S. represents the largest market worldwide followed by Europe. Asia-Pacific and Europe remain two of the fastest growing markets, each projected to grow at a CAGR of 14.2% and 16%, respectively, over the analysis period. The region offers great opportunity for the use and development of microbial biopesticides. Products based on Bacillus thuringiensis dominate the market. Market for nematode and microbial-based pesticides in the Asia-Pacific region increased noticeably during the past few years. Other major products in the market include fungal-based products such as Metarhizium, Beauveria and Trichoderma products; entomopathogenic viruses, mainly Spodoptera litura NPV and Helicoverpa armigera NPV; and other bacteria-based products such as Pseudomonas fluorescens, Bacillus subtilis, and other Bacillus derived products for plant disease prevention and Salmonella-based rat poison. China is the largest market for biopesticides in the region, followed by India and Japan.
Major players in the market include AG Biotech Australia Pty Ltd., AgraQuest Inc., Amit Biotech Pvt. Ltd., BionTech Inc., Certis USA LLC, Embrapa Milho E Sorgo, Greeneem, Isagro SpA, Kumiai Chemical Industry Co. Ltd., Prophyta Biologischer Pflanzenschutz GmbH, San Jacinto Environmental Supplies, Sumitomo Chemical Co. Ltd., Syngenta International AG, Troy Biosciences Inc., and Valent Biosciences Corporation.
The research report titled “Biopesticides: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, key growth drivers, product overview, product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Biopesticides for geographic markets, such as, US, Canada, Europe, Asia-Pacific (including Japan), Latin America and Rest of World.
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