Triton Market Research's report predicts that the global biopesticides market is poised for substantial growth, with an anticipated CAGR of 15.13% during the forecast period from 2023 to 2030.
The biopesticides market has witnessed significant growth due to increasing demand for organic products driven by consumer preference for healthier options. Moreover, cost-effective research and development in biopesticide manufacturing, coupled with a growing global population, is expected to boost the reviewed market’s expansion.
Conversely, the advent of cutting-edge genetic engineering techniques and the burgeoning development of nano-biopesticides for pest control have opened new avenues for the studied market. However, the potentially inconsistent efficacy and limited accessibility of products pose a barrier to further market expansion.
REGIONAL OUTLOOK
The global biopesticides market covers Asia-Pacific, Latin America, North America, Europe, and the Middle East and Africa regions.
Globally, North America holds the largest share of the biopesticides market. The region's commitment to implementing Integrated Pest Management (IPM) and Integrated Crop Management (ICM) programs is poised to catalyze further growth within the market. Additionally, the increasing emphasis on organic farming practices and the rising consumer preference for organic products fuel the demand for biopesticides in the region.
Competitive Outlook
The established companies thriving in the biopesticides market are Andermatt Group AG, BioWorks Inc, BASF SE, Koppert Biological Systems, IPL Biologicals Limited, Certis Europe BV, Pro Farm Group, Isagro SpA, Bayer CropScience AG, Rovensa Group, Novozymes A/S, The Stockton Group, and Valent BioSciences Corporation.
BioWorks Inc is a biotechnology company that provides innovative solutions for the horticulture industry. The company also promotes plant and soil health through reliable and environmentally friendly products. Its extensive product portfolio includes disease control, plant nutrition, insect control, and soil amendment. In addition, it offers organic and organo-mineral fertilizers and products certified by the Organic Materials Review Institute (OMRI) for use in organic production. With global reach, BioWorks distributes its biopesticide products to customers worldwide. The company is headquartered in New York, USA. "
1. Global 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. Market Maturity Analysis
2.7. Regulatory Framework
2.8. Key Market Strategies
2.8.1. Product Launches And Developments
2.8.2. Collaborations
2.8.3. Acquisitions
2.9. Market Drivers
2.9.1. Rising Population Has Raised The Demand For Food Products
2.9.2. Consumer Inclination Towards Organic Produce Pushes Organic Farming
2.9.3. Cost-effective R&D In Biopesticide Manufacturing And Innovation
2.10. Market Challenges
2.10.1. Precision Targeting And Limited Product Availability