Worldwide, the pesticides industry has been witnessing a relatively steady growth, which has been primarily attributed to advancements in the Biopesticides industry. Consumption and demand for bioinsecticides Asia-Pacific would remain the largest, with estimated respective volume and value shares of 27.7% and 38% of the global market in 2016, in addition to witnessing the fastest growth between 2017 and 2022. The Biopesticides market in Asia-Pacific is slated to post a volume CAGR of 17.2% and a value CAGR of 17.8% during 2017-2022, it the fastest growing region on a global basis.
Use of pesticides in countries such as India, China, and other less developed countries in the region is increasing with the need to meet the demand of the growing population in the region, thus leading to the growth in areas where there had previously been very less or no pesticide usage. In addition, decreasing arable land per person in countries like India, China, and especially in South East Asia is a growing concern, with arable land per person decreasing by 0.1 hectares per person. Other key drivers in the market are increasing consumer demand for organic products thus encouraging organic farming practices and governments promoting bio control products. The market however is mainly constrained by the grower’s low awareness on the use of bio control agents and availability of the products. Also low shelf life of products results in farmer’s frequent application of Biopesticides thus resulting in increased costs.
Segmentation of this report includes futher segmentation of Biopesticides to include Bioherbicides, Bioinsecticides, biofungicides and other Biopesticides. Based on application the market gives a share of pesticides used on Crop based applications like grains & Cereals, Oilseeds, Fruits and vegetable and Non crop application on Turf & Ornamental grass. In terms of region, China and India are set to outpace other markets in Asia-Pacific by posting faster CAGRs, with the Japanese market sustaining slower growth over the similar period.
Some of the players profiled in this market are Bayer cropscience, BASF, Emery Oleochemicals, ISagro Spa, Ishihara Sangyo Kaisha,Ltd , Sri Biotech Laboratories India, Ltd among others.
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