Increase bans on synthetic pesticides and advancements in integrated pest management solutions are expected to drive the growth of the biopesticides market
Biopesticides are derived from natural resources such as animals, plants, and bacteria, among others. Owing to the occurrence of chemical or synthetic pesticides in crop protection there is stringent and strict government regulations to enhance the adoption of bio-based pesticides. The increasing awareness for health concerns and an increase in individual income level are expected to play a key role in the development of biopesticides. It includes active agents such as bacteria, fungi, and viruses.
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Stringent government regulations to ban the usage of synthetic pesticides, further backing for the advancements in integrated pest management solutions, and growing support for the disposition of biological solutions despite to chemical pesticides across organic farming and IPM systems are expected to drive the market for biopesticides. Moreover, the growing awareness for environmental-friendly products for agriculture application to further enhance the development in the global biopesticides market during the forecast period.
However, the short shelf life of biopesticides and stringent approach concerning the number of imports are expected to restrain the growth of the market during the forecast period.
• Based on the product, the bioinsecticide type segment accounted for more than 50% of the share in the global biopesticides market in 2018
• Based on the formulation, the supermarkets /hypermarkets segment is expected to grow at a CAGR of around 11% throughout the forecast period.
• Based on the ingredient, the microbial pesticide segment accounts of the largest share in the market and held for more than 50% of the total market in 2018.
• Based on the mode of application, the foliar spray segment is expected to dominant the market during the forecast period
• Based on the application, the crop-based segment is expected to dominant the market during the forecast period
• North America accounted for more than 40% global market share of the biopesticides in 2018
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• In February 2019, Marrone Bio Innovations gained regulatory approval for its MBI-110 Bacillus strain, which covers a wide array of fungal diseases.
• In December 2018, Koppert Canada expanded in term of new facility in Leamington, Ontario, Canada. The new facility would allow better testing of Koppert’s line of biological products.
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