Global Microbial Pesticides Market - 2023-2030

Global Microbial Pesticides Market - 2023-2030

The Global Microbial Pesticides Market reached US$ 1.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 2.1 billion by 2030. The market is growing at a CAGR of 6.3% during the forecast period 2023-2030.

The increasing adoption of integrated pest management (IPM) practices is contributing to microbial pesticides market growth. IPM combines multiple pest control strategies, including the use of microbial pesticides, to achieve sustainable pest management. This approach is gaining popularity among farmers and is expected to boost the demand for the microbial pesticides market.

The microbial pesticides market is also benefiting from the expansion of agriculture and horticulture industries in developing countries. As these industries grow, the need for effective pest management solutions increases, creating a favorable market landscape for the microbial pesticides market.

Market Dynamics
Rise in Integrated Pest Management (IPM) Practices Drive the Market Growth

The rise in integrated pest management (IPM) practices is driving the global microbial pesticides market by creating a favorable market landscape and increasing the demand for microbial pesticides. IPM is an approach that combines various pest control strategies, including the use of microbial pesticides, to manage pests in a sustainable and environmentally friendly manner.

The utilization of microbial pesticides in IPM practices allows for a substantial decrease in the need for synthetic pesticides without compromising crop productivity. According to the Food and Agriculture Organization (FAO), the global harvested area in 2021 expanded to 1,465.0 million hectares, surpassing the previous year's 1,442.7 million hectares due to heightened demand for crop production with minimal microbiological and insect infestation.

Increasing Prevalence of Pest and Disease Resistance Drives the Market Growth

The pests and diseases are developing resistance to conventional synthetic pesticides, rendering them less effective in controlling infestations. This growing resistance is posing a significant challenge for farmers and the agricultural industry as a whole. In response, there is a need for alternative pest management strategies, leading to an increased demand for the microbial pesticides market.

The effectiveness of microbial pesticides against resistant pests and diseases is well-documented, which is contributing to their growing popularity in the market. As farmers encounter challenges with conventional pesticides, they are turning to microbial pesticides as a viable and sustainable alternative. This shift in demand is driving the market growth for microbial pesticides.

Cost Considerations of Microbial Pesticides Hamper the Market Growth
The complex process of developing, manufacturing, and formulating microbial pesticides can involve additional research, testing, and quality control measures. These factors contribute to higher production costs, which can make microbial pesticides less economically feasible for some farmers, especially those operating in price-sensitive markets or regions with limited financial resources.

The pricing of microbial pesticides can also be influenced by market dynamics. If the demand for microbial pesticides is relatively low compared to chemical pesticides, manufacturers may struggle to achieve economies of scale and, consequently, may not be able to offer competitive prices. This can further limit the affordability and adoption of microbial pesticides in the market.

COVID-19 Impact Analysis
The economic impact of COVID-19 has resulted in financial constraints for farmers and growers. Reduced incomes, uncertain market conditions, and increased production costs have limited the purchasing power of farmers. As a result, some farmers have been reluctant to invest in microbial pesticides and have opted for cheaper alternatives, including conventional chemical pesticides.

However, the pandemic has emphasized the importance of food security and self-sufficiency. As disruptions occurred in global supply chains, there was a renewed focus on local food production. This has prompted farmers to explore alternative pest management strategies, such as microbial pesticides, to protect their crops and ensure a stable food supply. As a result, the market for microbial pesticides has witnessed increased adoption and growth during the pandemic.

Segment Analysis
The global microbial pesticides market is segmented based on ingredient type, product type, application, and region.

Increasing Application of Microbial Pesticides in Grains & Cereals
The grains & cereals application segment holds the largest share of the global microbial pesticides market. The grains & cereals segment has witnessed an increasing demand for sustainable agricultural practices. Consumers are becoming more conscious of food safety and the environmental impact of conventional chemical pesticides. This has driven the adoption of microbial pesticides as a preferred pest management solution in the grains and cereals sector.

The grains & cereals segment is also benefiting from the extensive research and development efforts focused on developing microbial pesticides tailored specifically for these crops. Manufacturers in the microbial pesticides market are introducing a wide range of products designed to address the specific pests and diseases that commonly affect grains and cereals. These products offer targeted solutions and improved crop protection, further driving this segment’s market share in the global market.

Geographical Analysis
Increasing Innovative Farming Practices and Technologies in North America
The North America region dominates the global microbial pesticides market. North America is a highly developed and technologically advanced agricultural sector. The region consists of large-scale commercial farming operations that are embracing innovative farming practices and technologies. The adoption of advanced agricultural practices is creating a favorable market environment for microbial pesticides.

Microbial pesticides, with their low toxicity and minimal environmental impact, are gaining significant traction as an integral part of organic farming systems. The North American market is responding to this consumer demand by offering a wide array of microbial pesticide products that cater to organic farming practices. The region's commitment to sustainable agriculture and organic production is further fueling the dominance of microbial pesticides in the market.

Competitive Landscape
The major global microbial pesticides market players include Becker Underwood, Valent Biosciences Corporation, Certis USA LLC, Ecogen, Koppert Biological System, Agri Life, AgraQuest, Marrone Bio Innovations, Novozyme Biological, and Bayer CropScience AG.

Why Purchase the Report?
• To visualize the global microbial pesticides market segmentation based on ingredient type, product type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of microbial pesticides market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global microbial pesticides market report would provide approximately 61 tables, 59 figures, and 120 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies