The biopesticides market will grow at a CAGR of 16.3% during the forecast period to reach USD 7,626.3 million by 2022, driven by the increasing investment from leading crop protection companies in biopesticides market, growing awareness about environmental safety with the use of biopesticides, increasing organic farming and demand for organic food, and rising government initiatives to promote the use of biopesticides across the globe.
The global biopesticides market is mainly segmented by type, application, formulation, origin, and crop type. The biopesticides market by type is further segmented into bioinsecticides, bioherbicides, biofungicides, and bionematicides. By mode of application, the market is segmented into foliar spray, seed treatment, soil treatment, root treatment, and post-harvest. Based on formulations, market is segmented into liquid formulation and dry formulation. By crop type, the market is segmented into fruits and vegetables, grains, cereals, and oilseeds.
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Geographically, the global biopesticides market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America commanded the largest share in the global biopesticides market in 2016, followed by Europe, and Asia-Pacific region. The major share of the North American region is mainly attributed to the rising concern over harmful chemicals on environment, increasing demand for organic food, and its most streamlined registration process. However, Asia-pacific region is projected to show lucrative growth potential for the biopesticides market during the analysis period. The growth in the Asia-pacific region is attributed to the increasing demand for organic food production, high prevalence of crop diseases, and government initiatives to develop and increase application of biopesticides in the region.
The leading companies have employed various strategies to expand their product & application offerings, global footprint, and augment their market share. The leading players in the global biopesticides market are BASF SE, Bayer CropScience AG, Marrone Bio Innovation, Certis USA L.L.C., The Dow Chemical Company, Monsanto Company (Part of Bayer), Isagro S.P.A., Camson Bio Technologies Limited, Andermatt Biocontol AG, Som Phytopharma India Limited, Syngenta, International Panaacea Ltd, The Stockton Group, BioWorks, Inc., Novozymes, Inc., Koppert B.V., W. Neudorff GMBH KG, Invivo Agrosciences, Valent U.S.A. LLC, and FMC Corporation
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