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Global biopesticide market to reach $6.6 bn by 2020
Dec. 3, 2015
The market for biopesticides is projected to reach USD 6.60 Billion by 2020 at a CAGR of 18.8% from 2015 to 2020, according to a new biopesticides report. The need for a continuous supply of food has led conventional agriculture to be strongly dependent on chemicals. The increasing concern of consumers and government on food safety has led growers to explore new environmentally friendly methods to replace, or at least supplement, the current chemical-based practices. The use of biopesticides has emerged as promising alternative to chemical pesticides.
Though the biopesticides market is primarily driven by microbial biopesticides, biochemical and beneficial insects usage is projected to contribute to further growth. Grains & oilseeds and fruits & vegetables are the important crop segments that drive the current growth of the biopesticides market; however, there is a rising trend for use of biopesticides in forestry.
North America dominated the global biopesticides market in 2014; whereas, the European region is projected to grow at the highest CAGR from 2015 to 2020. The Asian market presents a good opportunity for biopesticides as China and India adopt more biopesticides. The market competitiveness of biopesticides has been increasing with the growing demand for organic food from developing nations and environmental hazards caused by chemical pesticides. The less availability of arable land has fostered the use of advanced methods to increase the agricultural productivity.
In organic production systems, biopesticides represent the most significant crop protection tools that a grower has to produce a quality crop. While their use is not overly complicated, the application of some biopesticides may require a high level of understanding and knowledge of the diseases and pathogens that they are designed to control. As with any disease management program, proper timing and application are essential to ensure efficacy. Biopesticides may not perform as quickly as some synthetic chemical pesticides. However, biopesticides are generally less toxic to the user and are smooth on non-target organisms, making them desirable and sustainable tools for disease management.
Source: MarketsandMarkets (M&M)
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