Biopesticides are useful in controlling agricultural pests and protecting the crops. These are generally used to control Unido Annual Report 2018 harmful organisms, insects, and bacterial and fungal growth on crops. Major types of biopesticides include
Use of biopesticides can be helpful in avoiding harmful effects on environment caused by the use of chemical pesticide residues. Advantages of biopesticides over toxic chemical pesticides are opening up new growth opportunities for biopesticides market.
Growing demand for organic products from global market and increasing consumption of organic food items is driving the biopesticides market. Governments of different countries are encouraging the use of biopesticides because of their low toxicity, high efficiency in pest control, and safety. Biopesticides market is witnessing an increased demand from growing economies as these products are environment friendly and chemical residue free. This market is however, witnessing strong competition from well established crop protection chemicals industry, variable efficiency of biopesticides, and lack of awareness about the use and benefits of biopesticides.
Field crops and oilseed crops are expected to be the emerging crop segments for biopesticides industry as a result of increasing oil process and growing population. Biopesticides are proving as an important and effective solution for controlling maximum residue level in crop for export.
The global market for biopesticides is forecasted to rise from $1.32 billion to $3.22 billion during the period from 2011-2017 at the compounded annual growth rate of 15.85%. North America is the largest market for biopesticides accounting for around 40.5% Electrician Math Test of the global demand. Europe is the fastest growing segment of this market with increasing use of biopesticides as a result of stringent regulations imposed by government against the use of harmful pesticides and rising demand for organic products.
Manufacturers are focusing on development of biopesticides with improved efficiency targeting Asia-Pacific and European markets to gain maximum market share and improve profitability. These products are generally used in organic farming and crops with lot of export potential for barrier free trade. Market players have thus started emphasizing on development of innovative product registrations and differentiation through modernism.
Major market players involved in the manufacturing of biopesticides include AgraQuest Inc. (U.S.), Marrone Bio Innovations Inc. (U.S.), Certis USA LLC (U.S.), Koppert Biological Systems (The Netherlands), Natural Industries Inc. (U.S.), and others.
More number of patents are registered in Europe followed by North America. Agreements and collaborations have become the most preferred development strategy since past few years in global market for biopesticides. Major companies are focusing on acquisitions and launching of new products as their growth strategy.
Biopesticides are the best alternatives for chemical pesticides and witnessing the double digit growth since past few years globally. Considering the hazardous impact on environment with the use of chemical pesticides, many global players are actively involved in development and promotion of biopesticides.