Mordor Intelligence announces the publication of their research report on the global biopesticides market. The report titled “Global Biopesticides Market - Growth, Trends and Forecasts” discusses the current landscape and outlook of the said market.
The market was valued at USD 2,466.70 million in 2015. During the forecast period (2015-2020), the market is projected to witness the growth of CAGR 10.34%. An ever increasing demand for organic products is one of the major drivers for the biopesticides market. The advancement in molecular biotechnology during recent years has assisted in the growth of this market.
Although out of the total crop protection market, biopesticides constitute only 5% of the entire market share, top players such as Andermatt Biocontrol, Koppert Biological Systems, Valent Biosciences, Bayer CropScience and Certis USA have registered several biopesticides such as Helicovex, Trianum WG, Double Nickel, Zen Tari WG, to name a few, in 2015 in USA, Australia, Canada, South Africa, etc. indicating a structural change in the biopesticides industry.
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The market is further segmented based on product type, formulation, ingredient type and mode of application. Among the various biopesticides viz. microbial, plant based and biochemical pesticides, the microbial pesticides – specifically biopesticides from Bacillus thuringiensis dominate the market. By product type bioinsecticides dominate the market with nearly 50% of the parent market share.
Europe is the largest market globally, followed by North America and Asia-Pacific. Owing to the stringent pesticide regulations and increasing demand from organic producers, the European biopesticides market is further expected to witness a significant growth during 2016-2021. Industry statistics reveal that the biopesticides industry in growing at CAGR of 9.66% in 2016 and this would further increase by the year 2021.
Some of the major players profiled in these reports include: Bayer Crop Science AG, BASF SE, Certis LLC, Koppert Biological systems and Valent Biosciences.
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