Skip to main content

Biopesticides Market: Growing Popularity of Organic Foods and Innovative Product Launches to Boost Market, TMR

The global biopesticides market is fairly consolidated with the top five companies accounting for a combined share of over 50% in 2014, finds Transparency Market Research (TMR). Some of the leading players in this market include BASF SE, Valent Biosciences Corp, Arysta LifeSciences, Bayer CropScience AG, Novozymes, and Dow AgroSciences. The top players are actively investing in research and development of new products, particularly microbial and biochemical pesticides. The leading companies are increasingly mobilizing their capital through acquisitions, licensing deals, and partnership agreements to consolidate their shares. 

Owing to an evolving regulatory environment, a large number of chemical pesticide manufacturers have made a foray into the biopesticides sector. In the past few years, intensifying regulatory pressures have led major agro-chemical companies to diversify their assets from chemicals to biopesticides. The global biopesticides market stood at US$1.72 bn in 2014 and is anticipated to reach US$4.17 bn by 2023, expanding at a CAGR of 9.9% during 2015–2023.
Spiraling Investment in Development of Microbial Pesticides to Bolster Uptake 
Based on the type of active ingredients used in biopesticides, the major types are microbial pesticides, plant-pesticides, and biochemical pesticides; among these, the microbial pesticides dominate the market. In the recent years, several manufacturers have invested heavily in the production and marketing of microbial biopesticides, which has triggered the growth of the segment. The microbial pesticides segment is anticipated to rise at an impressive CAGR of 9.70% during 2015 - 2023. 
Based on geography, the major regions for the growth of the biopesticides market are Asia Pacific, North America, and Europe; of these, North America dominates the global biopesticides market. The North America market contributed the highest revenue by occupying a share of 41.7% in 2014. The considerable growth of the regional market is driven by the spike in demand for organic food and stringent regulations on the use of chemical pesticides in farming and agriculture. 
Regulatory Pressures on Use of Toxic Chemicals in Agriculture Trigger Adoption of Biopesticides 
The biopesticides market is primarily driven by the spiraling demand for chemical-free foods, especially organic foods and the growing environmental regulations on the use of chemical pesticides in various regions. The increasing adoption of biopesticides in crop production and pest management programs is fuelled by the numerous benefits they offer over chemical pesticides. 
Biopesticides are preferred over traditional chemical pesticides to improve the quality of crops and enhance farming yield since they are cost-effective, have high host specificity, and are biodegradable, causing minimal impact to ecology. In addition, a surge in research and development of new products, especially in developed regions such as the North America and Europe is expected to boost the market in the coming years. Furthermore, the advent of innovative farming practices and increasing popularity of genetically modifies crops are encouraging developments in the market.   
However, the limited awareness on the use of biopesticides, their short shelf life, and the marked reluctance of farmers to use biopesticides are the factors likely to hinder the growth of the market to some extent. Nevertheless, increasing regulatory pressures on the use of toxic agrochemicals in emerging and established markets and new product launches by several agrochemical companies are expected to unlock exciting opportunities for players. 

Labels:
Location: United States

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a...
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry ...
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid proto...
Post a Comment
Read more