Biopesticides Market – Snapshot
Biopesticides are a type of pesticides that are derived from microorganisms such as fungi, bacteria, and virus, or from natural materials such as plants. Biopesticides can be classified into biochemical pesticides, microbial pesticides, and plant-incorporated protectants.
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Biochemical pesticides are naturally occurring and non-toxic compounds or synthetically derived with functional identities similar to their natural counterparts. Microbial pesticides consist of microorganisms as active ingredients. Plant-incorporated protectants are substances that are produced from genetic materials. Bt products and non Bt products are the sub-types of microbial pesticides.
Based on source, the microbial pesticides segment holds significant share of the market due to its cost effectiveness and minimal environmental impact. These pesticides contain bacteria, viruses, fungi, or protozoans as their active elements. Unlike chemical-based pesticides, these natural materials do not harm the environment. Furthermore, biopesticides can be easily adopted in Integrated Pest Management systems (IPMs) due to their lower environmental risks and cost effectiveness.
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Biopesticides are employed in a wide range of applications such as cereals and grains, oilseeds and pulses, fruits and vegetable, and others (including nursery and turf). Cereals & grains is a major segment of the global biopesticides market. Biopesticides provide better results than chemical-based pesticides on cereal and grain crops, as they prevent a wide range of pathogens and pests. Biopesticides also contain natural active materials. Hence, they are non-toxic and have lower environmental impact. After cereals & grains, fruits & vegetables is a lucrative segment of the global pesticides market. In terms of volume and value, the cereals & grains segment constituted major share of more than 35% of the global market in 2018.
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Bioherbicides can provide excellent weed control results, primarily on fruits and vegetables; and cereals and grains types of crops. Innovation in crop protection technologies and shift of consumer preferences toward nutritional and greener diet are driving the demand for organic food. This has augmented the demand for organic yield of fruits and vegetables and food grains crops. Easy adoption of bioherbicides in integrated weed control programs is also boosting the bioherbicides segment of the global biopesticides market.
Most farmers in developing countries are unaware about the benefits of biopesticides due to the extensive popularity of chemical-based pesticides. Conventional techniques dominate the agriculture sector in developing countries. Thus, the rate of adoption of advanced products is sluggish in agriculture and agriculture-related industries, especially in developing economies. Lack of an effective distribution network for biopesticides has adversely affected the availability of biopesticides in local markets. These factors are anticipated to hamper the biopesticides market in the near future. Low shelf life of biopesticides compared to chemical-based pesticides and time-consuming & costly registration process of pesticides are the key challenges faced by the global biopesticides market.
In terms of volume and value, North America held the leading share of more than 30% of the global biopesticides market in 2018. The U.S. is a major country for biopesticides. Key players operate in the market in the country along with several local and unorganized manufacturers. Presence of large areas of agricultural land and rise in demand for bio-based agricultural products, led by the implementation of stringent environmental regulations on the usage of synthetic pesticides, are prominent factors driving the global biopesticides market. The biopesticides market in Asia Pacific is estimated to expand at a rapid pace during the forecast period.
Increase in demand for food crops, mainly cereals and grains and fruit and vegetables, due to the ever-growing population is fuelling the demand for efficient agrochemicals in the region. This coupled with rise in awareness about benefits of bio-based agrochemicals among farmers is also augmenting the demand for biopesticides in Asia Pacific. Government support in terms of subsidies and awareness programs for educating farmers about the ill-effects of chemical-based pesticides is anticipated to propel the popularity of biopesticides in the pesticides industry in the region.
The market in Europe and Latin America is projected to expand at a rapid pace, while that in Middle East & Africa is likely to expand at a sluggish pace between 2019 and 2027.
The global biopesticides market is fragmented with the presence of regional and local players. The market has experienced acquisitions of key manufacturers by large chemical companies. For instance, Bayer AG acquired Monsanto Company in 2016. Prominent players operating in the market include Certis USA L.L.C., Bayer AG, Syngenta International AG, FMC Corporation, Novozymes A/S, Gujarat State Fertilizers and Chemicals Ltd, AGRICHEM, Symborg S. L., Biotech International Ltd, T. Stance & Company Ltd, Summit Chemical LLC, and BioSafe Systems LLC. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, product mapping, and recent developments.
