The Total Addressable Market (TAM) for Biopesticides had a revenue worth USD 6.26 billion in 2022. It is expected to reach USD 22.90 billion by 2031, growing at a CAGR of 15.5% during the forecast period (2023-2031). Biopesticides are specific insecticides from natural elements, such as minerals, bacteria, plants, and animals. The term "biopesticides" refers to substances that, as opposed to general chemical pesticides, are employed to control agricultural pests through specialized biological effects. To manage pests refers to goods containing biocontrol agents, natural creatures, or chemicals produced from natural materials (such as animals, plants, bacteria, or specific minerals). These agents may also include their genes or metabolites. Biopesticide is a method that poses less harm to people and the environment than using chemicals or pesticides made from chemicals. Environmental safety and host specificity are biopesticides' main benefits in treating agricultural pests.
While concerns about the environment, animal and human health, and crop protection are common reasons for using chemical or synthetic pesticides, biopesticides are rising. Several nations are taking a strict stance concerning imports, focusing on controlling the number of pesticide residues. Biopesticides are becoming more and more preferred over their synthetic counterparts due to the rising demand for food safety and quality. However, some factors anticipated to restrain the biopesticides market are their high pest specificity and higher cost.
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The Rising Demand for Hygiene and Quality Food, Easy Residue Management Techniques, and Inexpensive Research and Development
Today's consumers analyze the safety and quality of food goods and are more conscious of the products they consume. The risk of harm from synthetic pesticides entering the food chain is reduced when farmers apply biopesticides on agricultural land. Biopesticide usage will significantly decrease the demand for synthetic pesticides when incorporated into an integrated pest control program without reducing agricultural output rates. Biopesticides provide better residue control since they frequently contain naturally occurring substances safe for consumption and do not leave behind residues.
They provide advantages, including managing resistance and residues, limiting the number of applications, and ensuring both human and environmental safety. There are restrictions on the amount of residue found in food in Europe and other developed nations. However, for most biopesticides, there are typically no restrictions due to their relative safety. Since they are residue-exempt, many biopesticides do not have to be routinely inspected by regulatory bodies or retailers. Another factor influencing the development of biopesticides is the prohibitively high cost of creating synthetic crop protection agents. For start-ups and small businesses with restricted research funding, biopesticide research & development is more alluring due to its lower cost and speedier development procedure. Therefore, it is anticipated that rising consumer demand for food safety and quality, ease of residue management, and low research & development expenditures for novel biopesticide development will drive the worldwide market.
Low Product Availability and Reach in The Market
It is difficult to replace an established technology with a new one, and microbial are already having trouble. Compared to their synthetic rivals, microbials have a modest market share in the more than a century-long history of crop protection. A few growers in the market have a tendency to take risks. The transition from one technology to another is seen as a slow metamorphosis. Although growers are hesitant to adopt new technologies, the microbial sector is predicted to gain market share by doing so.
It's also debatable if the products will be available given the shifting demands. Farmers have difficulty getting their products since so few factories produce large quantities. The specificity of the target pest is a crucial issue in biological control. It affects a natural enemy's effectiveness and hazards to species other than the target. This has the drawback of each biopesticide only working against a particular set of pests. As a result, the global biopesticides market is constrained by low market product reach, availability, and high target pest specificity.
Rising Global Demand for Higher-Quality, Safer Food, As Well As Market Technological Breakthroughs and Innovations
Nowadays, consumers evaluate the safety and quality of food goods because they are conscious of the products they consume and are worried about them. Because of this, using biopesticide on agricultural land reduces the likelihood that toxicity from the use of synthetic pesticides will reach the food chain. The commercialization of biopesticides may benefit significantly from research in production, formulation, and delivery. To better the ability to develop nations to produce and use biopesticides and integrate biological agents into production systems, further research is required.
Compared to the market for synthetic pesticides, biopesticides have a more favorable regulatory environment. The usage of chemical pesticides will likely face increasing restrictions shortly, which is projected to positively impact the industry. The market for biopesticides is expected to soar in the following years, even though the size of the bioherbicide industry is a niche in many vital places due to the prohibition of the most effective chemical herbicides.
The global biopesticides market is classified based on the product, formulation, ingredient, mode of application, application, and region.
Per the product, the segments are Bioherbicide, Bioinsecticide, Bio fungicide, and Other Product Types.
The bio-insecticides section is projected to expand at a CAGR of 15.2% and holds the largest share. There are around 6,000 plant species known to have insecticidal qualities. Insect-pest management uses a variety of plant compounds made from neem, custard apple, tobacco, and pyrethrum as harmless insecticides. To launch new products, several businesses are emphasizing collaboration agreements and executing research & development operations. The market for bio-insecticides is then predicted to rise in response to this.
The bio-fungicide section will hold the second-largest share. Under the United States EPA, the average registration fee for a biological fungicide is close to USD 3 million. Additionally, the procedure takes between two and four years to complete. These considerations are the main obstacles preventing the global bio-fungicide market from expanding. Synthetic fungicides are pretty effective, but frequent usage has also resulted in environmental damage, the emergence of resistance, and lingering toxicity. Research & development on bio-fungicide, which is relatively safe and environmentally benign, has been accelerated as a result.
Per the formulation, the segments are Liquid Formulation and Dry Formulation.
The dry formulation section will likely have the most major shareholding and expand at a CAGR of 14.9%. The utilization of biological products is greatly desired because of their high target specificity; however, creating effective formulations takes a lot of work. The prepared product must maintain the biological agent's functionality during storage and application and have good physical qualities and ease of use. Dry biopesticide formulations, which come in granules, micro granules, and powders for seed dressing, can be used directly as dust and seed treatment.
The liquid formulation section will hold the second-largest share. High purity levels, a longer shelf life, and more straightforward handling and application processes are all benefits of liquid formulations. They are simple to store and carry and work with the machinery currently in use. Half of the market is taken up by formulations based on Bacillus thuringiensis (Bt), which are primarily bacterial suspensions in water or oil. They can develop vertically without restriction due to their higher success rate. Additionally, numerous product introductions of liquid biopesticide formulations are accelerating the market's expansion.
Per the ingredient, the segments are Microbial Pesticide, Plant Pesticide, Biochemical Pesticide, and Others.
The microbial pesticide section is forecasted to advance at a CAGR of 16.85% and hold the largest market share. The market for biopesticides has the fastest-growing market segment: microbial pesticides. Microbial pesticides contain an active ingredient of microorganisms like bacteria, fungi, viruses, or protozoans. Each organism that makes up the active component has a specific target pest. Microbial market growth has been driven by the need for high crop yield and production, high quality, evolving agricultural techniques, and precision farming.
The biochemical pesticide section will hold the second-largest share. Growing food demand and the enormous prevalence of crop diseases are driving the expansion of biochemical pesticides. The importance of biochemical insecticides in integrated pest management strategies is well known. Biochemicals used to preserve plants may include powdered plant components, plant extracts, and maybe co-formulants.
Per the mode of application, the segments are Foliar Spray, Seed Treatment, Soil Treatment, and Post-harvest.
The foliar spray section is forecasted to proliferate at a CAGR of 14.11% and holds the largest share. The concentration is much higher as biopesticides are applied directly to the plants during foliar sprays as opposed to seeds or soil. The most effective and speedy treatment for stressed plants is foliar sprays. Foliar sprays can spread quickly to various regions of the plant, allowing the plant to utilize the entire amount applied. Depending on the type of pest spraying, multiple nozzle types can be utilized with the sprays.
The soil treatment section will hold the second-largest share. One industry that has experienced exponential expansion is soil remediation. Soil treatment can control several pathogens in the soil and are responsible for seed blight, seed rot, etc., which results in crop damage. Certain strains of microorganisms have been employed successfully to combat infections and diseases transmitted through the soil for many years. Additionally, regional organizations worldwide support biopesticide use in their nations to improve the quality of soil and agricultural output.
Per the application, the segments are Crop-based and Non-crop-based.
The crop-based section is projected to expand at a CAGR of 15.81% and hold the most significant revenue in the market. The main crops that use biopesticides in more significant amounts are grains, cereals, oilseeds, fruits, and vegetables. Between 20% and 60% of the crops' losses occur during their growth and during the handling, processing, storage, and distribution processes following harvest. This is one of the key elements driving the market's expansion. Additionally, many research organizations are spending a lot of money on research and development of more sophisticated biopesticide products that will meet various needs.
The non-crop-based section will hold the second-largest share. A few nations in Asia-Pacific, Africa, and Europe are among the top producers of non-crop-based biopesticides like turf and ornamental plants. The ornamental industry is lucrative and aims to give major stakeholders access to ventures and business opportunities. Therefore, developing biological pesticides is essential to maintain industry growth in the coming years and avoid the loss of yields of such highly valued plants.
The region-wise segmentation of the global biopesticides market includes North America, Asia Pacific, South America, Africa, and Europe.
North America and the Asia Pacific will dominate the regional market
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North America is forecasted to command the regional market while expanding at a CAGR of 16.3%. The United States is the primary revenue generator of the region. The volume of biopesticides consumed in the United States would be significantly pushed by an increase in the area planted to grains, cereals, and oilseeds. Although biopesticide use for grains and cereals is the highest, oilseed applications are likely to grow faster due to the rising demand for products made from oilseeds.
Consumers are picky about the cooking oil they use, so there is a direct correlation between the production of oil sources and the consumption of oils derived from them. More people becoming aware of biopesticides and how to use them is another factor driving demand. On-farm demonstrations and applied research are more prevalent than ever. More than 60 businesses are involved in developing and/or marketing biopesticides. The market for biopesticides in the area is benefited from these factors.
The Asia Pacific is predicted to grow at a CAGR of 14.85% and holds USD 5,179 million by 2031. China holds a significant share of the region. Greater emphasis has been placed on developing biopesticides as part of China's plan to reduce its use of harmful chemical pesticides while promoting sustainable agriculture in the nation. China recently claimed the top spot in the world for biopesticide research and development. As a result, the nation already has a system of biopesticides, including microbial pesticides, biochemical pesticides, botanical pesticides, agricultural antibiotics, and biological pest control.
In addition, the area is luring numerous foreign players to come and introduce their technologies and set up manufacturing facilities there. The demand for biopesticides is projected to rise during the forecast period due to regional regulatory authorities encouraging bio-pesticide use through regulations, policies, and programs.