Biopesticides are useful in controlling agricultural pests and protecting the crops. These are generally used to control unhealthy organisms, insects, and bacterial and fungal growth on crops. Major types of biopesticides include
Use of biopesticides can be helpful in avoiding unhealthy effects on ecosystem caused by the use of chemical pesticide residues. Advantages of biopesticides over toxic chemical pesticides are opening up new growth opportunities for biopesticides market.
Growing need for organic products from global market and increasing consumption of organic food items is driving the biopesticides market. Governments of different countries are encouraging the use of biopesticides because of their low toxicity, high efficiency in pest control, and safety. Biopesticides market is witnessing an increased need from growing economies as these products are ecosystem friendly and chemical residue free. This market is however, witnessing strong competition from well established crop protection chemicals industry, variable efficiency of biopesticides, and without of awareness about the use and benefits of biopesticides.
Field crops and oilseed crops are expected to be the emerging crop segments for biopesticides industry as a consequence of increasing oil course of action and growing population. Biopesticides are proving as an important and effective solution for controlling maximum residue level in crop for export.
The global market for biopesticides is forecasted to rise from $1.32 billion to $3.22 billion during the period from 2011-2017 at the compounded annual growth rate of 15.85%. North America is the largest market for biopesticides accounting for around 40.5% of the global need. Europe is the fastest growing part of this market with increasing use of biopesticides as a consequence of stringent regulations imposed by government against the use of unhealthy pesticides and rising need for organic products.
Manufacturers are focusing on development of biopesticides with improved efficiency targeting Asia-Pacific and European markets to gain maximum market proportion and enhance profitability. These products are generally used in organic farming and crops with lot of export possible for obstacle free trade. Market players have consequently started emphasizing on development of inventive product registrations and differentiation by modernism.
Major market players involved in the manufacturing of biopesticides include AgraQuest Inc. (U.S.), Marrone Bio Innovations Inc. (U.S.), Certis USA LLC (U.S.), Koppert Biological Systems (The Netherlands), Natural Industries Inc. (U.S.), and others.
More number of patents are registered in Europe followed by North America. Agreements and collaborations have become the most preferred development strategy since past few years in global market for biopesticides. Major companies are focusing on acquisitions and launching of new products as their growth strategy.
Biopesticides are the best alternatives for chemical pesticides and witnessing the double digit growth since past few years globally. Considering the hazardous impact on ecosystem with the use of chemical pesticides, many global players are actively involved in development and promotion of biopesticides.