According to the recent research report titled ‘GLOBAL BIOPESTICIDES MARKET 2019-2027’, available with Market Study Report, global biopesticides market is anticipated to record a CAGR of 15.87% during 2019-2027.
 

Growing population, flourishing food sector, and low R&D costs of manufacturing & development of biopesticides are primarily driving the growth of global biopesticides market. In addition, surging popularity of biopesticides and technological advancements in integrated pest management (IPM) systems are  also contributing to the overall market growth.
 

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However, factors such as low potential of profit, less shelf life, and inconstant efficacy may hinder the growth of global biopesticides market. Besides, stringent regulatory issues along with lack of awareness among farmers regarding the benefits of biopesticides may also act as restraining factors for the industry expansion.
 

Based on formulation type, global biopesticides market is divided into dry and liquid segments. Speaking of product type, the industry is bifurcated into biofungicide, bioinsecticide, bioherbicide, and others. Moving on to mode of application, global biopesticides market is split into post-harvest, soil treatment, seed treatment, and foliar spray.
 

Elaborating on application spectrum, the industry is categorized into crop and non-crop. The crop segment includes fruits & vegetables, oil seeds, and grains & cereals. On the other hand, the non-crop segment comprises of turf & ornamental grass and other non-crops.
 

As per ingredients type, the market is split into microbial and biorational. The microbial segment is further bifurcated into nematode, fungal, virus, bacteria, and other microbials. Whereas, the biorational segment consists of insect growth regulators and semiochemicals.
 

Citing the regional landscape, global biopesticides market is segmented into Middle East & Africa (MEA), Asia Pacific, North America, Europe, and Latin America. Europe biopesticide market is expected to record significant growth in the forthcoming years, with France and Germany being the major contributors.
 

The growth of the Europe biopesticides industry is credited to boycotting of pesticides such as paraquat, neonicotinoids, and glyphosate, which in turn has compelled the farmers across the region to use biopesticides in order to safeguard their crops. Moreover, strict environmental regulations along with surging demand for organic food products are augmenting Europe biopesticides industry share.
 

Major contenders in global biopesticides market are Novozymes A/S, Andermatt Biocontrol AG, Valent Biosciences Corp (VBC), Marrone Bio Innovations (MBI), Syngenta AG (acquired by ChemChina), Koppert Biological Systems B.V, The Stockton Group, Isagro S.p.A, International Panaacea Limited, Monsanto Company (acquired by Bayer), FMC Corporation, Certis USA LLC, BASF SE, Bioworks Inc., and Bayer CropScience AG.