According to Triton's research report, the Asia-Pacific biopesticides market is projected to rise at a CAGR of 15.53% during the forecast period 2023 to 2030. The region’s report assesses Australia & New Zealand, South Korea, India, China, Japan, ASEAN countries, and the Rest of Asia-Pacific.
In South Korea, the rising adoption of environmentally friendly agricultural products are primarily due to the Positive List System (PLS) introduction. Under this set of regulations, farmers are compelled to switch from chemical to organic pesticides recognized for environmental safety. This switch aligns with the government's strict guidelines to reduce chemical pesticide use by 50%. In addition, a well-established research and development department exercises comprehensive control over the production and use of biopesticides in the country. This regulatory framework has significantly reshaped the agricultural industry towards sustainability, thus expanding the biopesticides market.
Similarly, the Indian biopesticides market has experienced significant growth in recent years. This growth can be attributed to growing environmental awareness and a shift towards organic farming practices. Moreover, government initiatives have promoted the use of biopesticides. Given the increasing importance of sustainable agriculture, the market under review is expected to continue an upward trend over the forecast years.
Competitive Outlook
Rovensa Group, Valent BioSciences Corporation, BASF SE, Andermatt Group AG, and Isagro SpA are among the prominent players in the biopesticides market.
1. Asia-pacific Biopesticides Market - Summary
2. Industry Outlook
2.1. Parent Market Analysis
2.2. Evolution And Transition Of Biopesticides
2.3. Impact Analysis On The Biopesticides Market
2.3.1. Covid-19 Impact
2.4. Key Insights
2.4.1. Using Biopesticides As Part Of Integrated Pest Management (Ipm)
2.4.2. Integration Of Precision Farming And Big Data With Pest Management
2.4.3. Adoption Of New Farming Technologies
2.5. Porter’s Five Forces Analysis
2.5.1. Threat Of New Entrants
2.5.2. Threat Of Substitutes
2.5.3. Bargaining Power Of Suppliers
2.5.4. Bargaining Power Of Buyers
2.5.5. Threat Of Competitive Rivalry
2.6. Regulatory Framework
2.7. Key Market Strategies
2.7.1. Product Launches And Developments
2.7.2. Collaborations
2.7.3. Acquisitions
2.8. Market Drivers
2.8.1. Rising Population Has Raised The Demand For Food Products
2.8.2. Consumer Inclination Towards Organic Produce Pushes Organic Farming
2.8.3. Cost-effective R&D In Biopesticide Manufacturing And Innovation
2.9. Market Challenges
2.9.1. Precision Targeting And Limited Product Availability