Regionally, the global biopesticides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest market share of 38.13% by the end of 2029 and further attain a market revenue of USD 5411.9 Million in the same year, up from a value of USD 1819.2 Million in the year 2020. The growth of the market in the region can be attributed to the growing demand for healthy and clean food amongst the consumers, increasing favorable initiatives of the government, and for the surge in sales of organic food products. On the other hand, the market in the Asia Pacific is expected to grow with the highest CAGR of 14.8% during the forecast period. Further, the market in Europe is expected to hold the second leading stance by registering a revenue of USD 3331.5 Million by the end of 2029, up from a value of USD 1166.4 Million in the year 2020. The market in Europe is segmented by country into the UK, Germany, Italy, France, Spain, Russia, Netherlands, and Rest of Europe, out of which, the market in France is anticipated to hold the highest market share of 17.43% by the end of 2029 and further attain a market revenue of USD 580.7 Million in the same year by growing from a revenue of USD 220.7 Million in 2020.
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The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global biopesticides market is segmented by class into biochemical pesticides, microbial pesticides, and plant-incorporated protectants. Amongst these segments, the microbial pesticides segment is expected to hold the largest market share throughout the forecast period and further attain a market revenue of USD 11689.6 Million by the end of 2029. Further, on the basis of species, the market is segmented into Bacillus, Trichoderma, Streptomyces, Pseudomonas, Paecilomyces, and others. Out of these, the Bacillus segment is anticipated to hold the largest market revenue of USD 12270 Million by the end of 2029. The market is further segmented by type into insecticides, herbicides, bactericides, fungicides, and nematicides. Amongst these segments, the insecticides segment is expected to hold the largest market revenue throughout the forecast period and further attain the market revenue of USD 3270.9 Million by the end of 2029. The segment is further expected to grow with a CAGR of 12.6% during the forecast period.
The market is further segmented by formulation into liquid pesticides, and dry formulation, out of which, the dry formulation segment is anticipated to grow with the highest CAGR of 14% during the forecast period. On the basis of mode of application, the market is segmented into foliar spray, dusting, soil treatment, seed treatment, and others. Out of these, the foliar spray segment is anticipated to hold the largest market share and further attain a revenue of USD 3203 Million by the end of 2029. Based on crop type, the market is segmented into cereals & grains, pulses, fruits, vegetables, and others. Out of these, the cereals & pulses segment is anticipated to hold the largest market revenue of USD 4698.8 Million by the end of 2029, up from USD 1590.3 Million in 2020. The market is also segmented on the basis of end user into agriculture farms, greenhouses, nursery, and lawn & garden. Amongst these, the agriculture farms segment is expected to hold the largest market share and attain a revenue of USD 7853.6 Million by the end of 2029.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global biopesticides market that are included in our report are BASF SE, Bayer AG, Syngenta Group, Certis USA L.L.C., Isagro S.p.A., Andermatt Biocontrol AG, Marrone Bio Innovations, Inc., Novozymes A/S, Nufarm Limited, Biotalys NV, Terramera Inc., NewLeaf Symbiotics, Inc., Vestaron Corporation, and others.
Key Reasons to Buy Our Report
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The surge in organic agricultural practices worldwide is one of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 13.4% over the forecast period, i.e., 2021-2029.
Ans: The high cost of biopesticides is one of the major factors estimated to hamper the market growth.
Ans: The market in Europe is expected to display significant business opportunities in the near future.
Ans: The major players in the market are BASF SE, Bayer AG, Syngenta Group, Certis USA L.L.C., Isagro S.p.A., Andermatt Biocontrol AG, Marrone Bio Innovations, Inc., Novozymes A/S, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by class, species, type, formulation, mode of application, crop type, end user, and by region.
Ans: The microbial pesticides segment is anticipated to hold the largest market size in value and is estimated to display significant growth opportunities.