June 03, 2020
According to the research report titled ‘Biopesticides Market Size By Product, By Application, By Crop, By Form, By Source, Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global biopesticides market is expected to generate appreciable revenues by the year 2026.
Growing inclination towards organic farming practices is a major factor driving the biopesticides market growth. These pesticides are produced from natural materials including bacteria, minerals, animals and plants. Biopesticides help in controlling the spread of pests by non-toxic mechanisms. Increasing awareness pertaining to benefits of biopesticides is aiding the market expansion. The product is typically less toxic as compared to conventional pesticides. It offers better efficiency in small quantities and can decompose swiftly, which further helps in minimizing pollution.
Based on the application spectrum, soil spray segment is projected to expand considerably by the year 2026. Biopesticides play a vital role in water conservation as well as helps in addressing issues concerning compact, hard and dry soils.
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In terms of crop type, the others segment, which comprises of greenhouse crops, forage, turfs and pulses, is expected to register significant growth during the forecast period.
Elaborating on the source, others segment including predatory biopesticides and pheromones, is predicted to record remunerative growth during the estimated timeframe. Pheromones are developed and released into the environment by animals such as mammals or insects. These pheromones influence the behavior and psychology of other animals of the same species.
Considering the geographical landscape, Latin America biopesticides industry is reckoned to grow significantly during the study period, primarily due to inclination towards organic farming practices and improving production capacity of biopesticides.
On the other hand, Middle East & Africa biopesticides market is slated to register momentous growth by the year 2026. Increasing export activities and focus towards enhancing agricultural productivity are favoring the market scenario in the region.
The prominent companies operating in biopesticides market are Multimol Micro Fertilizer Industries, Seipasa S.A., Chema Industries, Bioworks Inc., Syngenta Crop Protection AG, Parry America Inc., Certis USA LLC, Bayer S.p.A., Corteva Agriscience, Novozymes, BASF SE, Valent Biosciences LLC, Koppert B.V. and Marrone Bio Innovations among others.