Biopesticides Market Outlook

In 2022, the Biopesticides Market Size reached USD 5.5 billion. Forecasts for the biopesticides industry indicate substantial growth, with the market poised to ascend from USD 6.2 billion in 2023 to a significant USD 13.2 billion by 2030. This expansion reflects a noteworthy compound annual growth rate (CAGR) of 13.3% during the forecast period from 2023 to 2030. The drivers propelling this market growth include augmented investment from prominent crop protection companies, heightened environmental consciousness, improved crop quality and yield attributed to biopesticide use, the escalating practice of organic farming, surging demand for organic food, and an increase in government initiatives supporting the biopesticides market.

Rising Demand for Organic Food Fuels Market Expansion

With the increasing global prominence of organic farming and food production, there is a growing demand for biopesticides, propelling the expansion of the biopesticides market. Farmers worldwide are adopting biopesticides more frequently to mitigate crop degradation caused by chemical pesticides and address escalating environmental concerns. As consumers gain awareness of the chemicals used in food production and the potential health risks associated with chemical residues, they are advocating for alternatives to conventional, chemical-based agriculture.

Strict Regulations on Environmental Pollution Provide Robust Opportunities

The preference for biopesticides over chemical alternatives is driven by their safer and more environmentally friendly nature, designed to specifically target pests without leaving residues or negative environmental impacts. Consequently, the biopesticides market is witnessing growth as numerous governments enforce stringent regulations to address environmental contamination concerns.

Click Here to Get Sample Premium Report: https://www.marketresearchfuture.com/sample_request/5098

Key Players 

Eminent industry players profiled in the global biopesticides market report include DuPont (U.S.), Bayer Crop Science AG (Germany), Monsanto Company (U.S.), BASF SE (Germany), Novozymes Biologicals (Denmark), Syngenta (Switzerland), Certis USA LLC (U.S.), and Others.

Restraints and Challenges 

Low Shelf Life to act as Market Restraint 

The low shelf life of biopesticides, high cost, lack of awareness, and stringent regulation on pesticides may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.

Market Segmentation 

The global biopesticides market is bifurcated based on type, form, application, and crop.

By type, bioinsecticides will lead the market over the forecast period.

By form, liquid will domineer the market over the forecast period.

By application, soil will spearhead the market over the forecast period.

By crop, vegetables will spur the market over the forecast period.

Regional Analysis 

North America to Lead Biopesticides Market 

North America dominates the market. The market for biopesticides in North America is being driven by two factors: the rise in interest in ecologically friendly agricultural practices & the loss of several conventional products owing to re-registration and/or performance concerns. More than 60 companies are now working to develop and/or sell biopesticide products in the US alone. The introduction of new products has also raised demand for biopesticides. The North American market will grow at an incredible rate in the future years due to the expanding local and worldwide demand.

Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Biopesticides Market Report: https://www.marketresearchfuture.com/reports/biopesticides-market-5098.

About Market Research Future: 

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), and Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team has a supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which helps to answer all their most important questions.

To stay updated with the technology and work process of the industry, MRFR often plans & conducts meetings with the industry experts and industrial visits for its research analyst members.

Contact

Market Research Future

Office No. 104, Pentagon 4 Magarpatta City, Hadapsar,

Pune – 411013 Maharashtra, India

Tel. (0) + 91 8411985042 / 020 640000195

Email: Sales@marketresearchfuture.com