Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSThe global biopesticides market garnered a revenue of USD 4590.9 Million in the year 2020 and is further expected to reach USD 14191.5 Million by the end of 2029 by growing with a CAGR of 13.4% during the forecast period, i.e., 2021-2029. The growth of the market can be attributed to the rapid surge in organic agricultural practices worldwide, backed by the growing demand for organic food, followed by the rise in awareness about environmental safety and the benefits associated with the use of biopesticides, along with the increasing technological advancements and innovation in the field of agricultural science. Moreover, stringent government regulations for the use of toxic pesticides, is also expected to create numerous opportunities for market growth.
One of the major factors that is expected to drive the market growth is the growing availability of organic agricultural land, where biopesticides are used widely. According to the statistics by the Research Institute of Organic Agriculture (FiBL), in the year 2019, organic agricultural land around the world recorded to 72.3 Million hectares. Out of these, the region which held the largest share was Oceania with 35.9 Million hectares, followed by Europe, Latin America, Asia, North America, and Africa with 16.5 Million hectares, 8.3 Million hectares, 5.9 Million hectares, 3.6 Million hectares, and 2 Million hectares respectively. CLICK TO DOWNLOAD SAMPLE REPORT
Moreover, growing sales of organic food products in several countries worldwide, backed by the shift in preferences of consumers towards such food products, along with the rise in demand for natural plant protection solutions are some of the other factors anticipated to contribute to the market growth.
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.
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.
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FREQUENTLY ASKED QUESTIONS
The surge in organic agricultural practices worldwide is one of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 13.4% over the forecast period, i.e., 2021-2029.
The high cost of biopesticides is one of the major factors estimated to hamper the market growth.
The market in Europe is expected to display significant business opportunities in the near future.
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.
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.
The market is segmented by class, species, type, formulation, mode of application, crop type, end user, and by region.
The microbial pesticides segment is anticipated to hold the largest market size in value and is estimated to display significant growth opportunities.
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