PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389802
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389802
The global biopesticides market has achieved substantial growth, reaching a valuation of US$ 8.19 billion in 2024, according to the latest study by Fairfield Market Research. The market is poised for continued expansion, with sales projected to surge to US$ 21.8 billion by the end of 2031.
Key Insights Driving the Demand for Biopesticides
Growing health consciousness and awareness about the harmful effects of synthetic pesticides in agricultural products are driving the adoption of biopesticides. Governments and regulatory bodies are supporting the use of natural and organic food commodities, leading to easier registration for biopesticide products compared to synthetic pesticides.
Innovations in agriculture, coupled with rising demand for organic and natural food products, are boosting the adoption of biopesticides in modern agricultural practices. Biopesticides are emerging as an ideal alternative to traditional synthetic pesticides.
Growing awareness of the health risks associated with synthetic pesticides is prompting consumers and growers to seek biological alternatives for plant protection. Safety concerns and toxicity issues related to traditional pesticides are driving the growth of the global biopesticides market.
The global population is expected to reach 9.7 billion by 2050, with a significant portion residing in urban areas. To meet the increasing demand for food products, agricultural production must be sustainable and environmentally friendly. Regions like the Asia Pacific and Latin America, with high populations, are driving the growth of the biopesticides market.
Excessive use of synthetic pesticides and chemicals in soil treatment has led to soil damage and loss of productivity. Biopesticides offer a solution that protects plants and crops without harming the soil. Developing countries represent a significant opportunity for soil treatment biopesticides, as they can improve soil health and productivity.
Challenges in the Adoption of Biopesticides
Stringent Regulations for Registration of Pesticides
The European Union has stringent registration policies for pesticides, including biopesticides. Manufacturers face a lengthy and rigorous process, including field trials and compliance with EU guidelines, for biopesticide registration, particularly in the EU.
Country-wise Insights
India's Lucrative Market for Biopesticides
India accounts for over 40% of biopesticide consumption in the South Asia and Pacific region, with soil treatment applications playing a significant role. The foliar spray sector is expected to witness rapid growth, with an estimated value CAGR of 16.7%.
High Demand for Biopesticides in the United States
North America holds approximately 41.0% of the global market share, with the United States contributing around 90.0% of North American consumption. Bioinsecticides are the most widely consumed type, with continued growth expected.
Competitive Landscape
The global biopesticides market is characterized by a large number of regional players, with North America, Western Europe, and South Asia & Pacific companies accounting for an approximate share of 30-40%. Manufacturers are targeting Asia Pacific and Latin America regions, where agriculture sectors are large and focused on sustainable practices.
Key Companies Profiled
Biopesticides Industry Research Segmentation