The Global Biopesticides projected to register a CAGR of 14. 7% during the forecast period. Due to the growing demand for food safety and quality, biopesticides are gaining increasing popularity, over their synthetic counterparts.
New York, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biopesticides Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05976754/?utm_source=GNW
However, high specificity on target pests and higher cost of biopesticides are some of the factors expected to constrain the market.
Africa is expected to witness the fastest growth in the forecast period. In addition, the United States is likely to be the largest individual market over the forecast period. While the prevalence of chemical or synthetic pesticides in crop protection is continuing, human, animal, and environmental health concerns are playing key roles in driving the growth of biopesticides. Several countries are adopting a stringent approach concerning the number of imports, with a special focus on regulating the number of pesticide residues. Emerging economies in Asia-Pacific are likely to take the lead in the adoption of biopesticides.
Valent BioSciences, Certis USA LLC, and Koppert Biological systems, among others, are the leading players in the business.
Key Market Trends
Easy Registration Procedure
Given that biopesticides tend to pose fewer risks than chemical pesticides, the EPA generally requires less data to register a biopesticide than to register a chemical pesticide. As a result, new biopesticides are often registered in less than a year, compared to an average of more than three years for chemical pesticides.
Biopesticides are regulated in the European Union in the same manner as chemical pesticides. The Organization for Economic Co-operation and Development (OECD), a 34-country group headquartered in Paris, France, assists EU governments in quickly and thoroughly assessing biopesticide risks to humans and the environment.
To promote the use of biopesticides, developing countries have simplified the requirement for the registration of biopesticides. These countries are also providing grants for R&D and production unit setups. All these activities are creating an opportunity for the development of the biopesticide market, globally.
North America dominates the global market
Demand in the region is driven by a number of factors, including the increased interest in green agricultural practices and the loss of many conventional products to reregistration and/or performance issues. Demand is also driven by increased knowledge about biopesticides and how to use them. More applied research and on-farm demonstrations are existing than ever before. There are more than 60 companies that are developing and/or selling biopesticide products today In the US alone.
Product development has also driven up the demand for biopesticides. Today more and better biological active ingredients and products are available that can compete with, as well as complement conventional chemical pesticides. The United States had over 420 registered biopesticides. As of 2018, nearly 13 active PIP active ingredients were registered for corn, nine for cotton, and five for soybean. Organizations, like BPIA, EPA, and many others, are working toward developing biopesticides for the majority of the pests in the region. Bio fungicides and bioinsecticides cover more than 80% of the North American biopesticides market.
The global biopesticides market is concentrated and highly dominated by international players like Bayer CropScience LLC, Syngenta AG, Sumitomo Chemical Co. Ltd and others. In the global biopesticide market, companies are not only competing based on product quality and promotion but are also focused on strategic moves, to hold larger market shares.New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the global biopesticide market. For instance, in November 2017, Koppert Biological Systems, a producer of biological solutions for horticulture and agriculture, acquired Brazilian biological control company, BUG Agentes Biológicos with an aim to strengthen its position in the macro-biological crop protection market in Latin America including biopesticides.
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