Consumer Demand for Organic to Drive Biopesticides Market

Triton Market Research presents the Global Biopesticides Market report segmented by Formulation (Liquid Formulation, Dry Formulation), Product (Bioherbicide, Bioinsecticide, Biofungicide, Other Products), Mode of Application (Foliar Spray, Seed Treatment, Soil Treatment, Post-Harvest), Application (Crop [Grains and Cereals, Oil Seeds, Fruits and Vegetables], Non-Crop [Turf and Ornamental Grass, Other Non-Crops]), Ingredient (Microbial [Bacteria, Virus, Fungal, Nematode, Other Microbials], Biorational [Botanical {Insect Growth Regulators, Feeding Detergents, Repellants, Confusants, Plant Allelopathy, Plant Growth Regulator, Fungicidal Control, Induced Resistance, Pyrethrum, Neem, Essential Oils}, Semiochemical {Repellants, Pheromones, Kairomones, Allomones}), and Regional Outlook (North America, Asia-Pacific, Latin America, Middle East and Africa, Europe).

The report further includes the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Maturity Analysis, Regulatory Framework, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

According to Triton’s research report, the global biopesticides market is anticipated to advance at a CAGR of 15.13% during the forecast period 2023-2030.

A biopesticide is derived from natural materials or organisms to control pests, including insects, weeds, and pathogens, in agriculture and other fields. Unlike chemical pesticides, which are often synthetic and can have harmful environmental and health effects, biopesticides are generally considered more environmentally friendly and sustainable.

Growing consumer preference for organic products is anticipated to expand the biopesticides market during the projected period. Organic food and related agriculture account for around 5-10% of the total food sector. Therefore, the increasing popularity of organic farming leads to increased demand for biopesticides. Moreover, the rising use of nano biopesticides in pest control coupled with advanced genetic engineering will create lucrative opportunities for the reviewed market.

However, the development of the biopesticides market is hindered by constraints such as precision targeting and limited product availability.

The Asia-Pacific is anticipated to experience the fastest growth over the forecasted period. China is the dominant player in the biopesticides market, closely followed by India. For instance, the Chinese government has introduced subsidies to encourage developing and using environmentally friendly pesticides, especially for major cereal crops. This push is driven by the urgent need to meet the escalating food demands of the growing population. In the country, where pesticide use has historically been minimal, biopesticides are widely opted as a sustainable solution, significantly driving the Asia-Pacific biopesticides market.

The established companies in the biopesticides market include Pro Farm Group, Rovensa Group, Isagro SpA, Koppert Biological Systems, Andermatt Group AG, BioWorks Inc, BASF SE, IPL Biologicals Limited, Certis Europe BV, Bayer CropScience AG, Novozymes A/S, The Stockton Group, and Valent BioSciences Corporation.

The initial investment required to start a biopesticide manufacturing company is relatively low. This is facilitated by the ready availability of essential raw materials such as crops, growth materials, and production equipment in local markets, which can be acquired with little capital investment. In addition, the growing demand for biopesticides provides a favorable environment for new players to enter the market. This regulatory advantage encourages companies to expand their biopesticide portfolio. Hence, the threat of new entrants is expected to be high over the forecast years.