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By 2024, Biopesticides Market growth is driven by its rising demand for organic food

Author : Ronak Bora | Published Date : 2019-04-03 

Growing consumer awareness, rising demand for organic food along with favorable government regulations for organic products are the key factors driving the biopesticides market growth. Harmful environmental effects of chemical pesticides including surface & ground water pollution, soil & air contamination, adverse effects on non-target organisms will enhance the product demand.

Asia Pacific biopesticides market will witness significant growth due to increasing investment from several multinational companies, advancement in biotechnology, demand for organic food and improving farming practices.

Inclination towards sustainable farming practices to improve crop yield will propel the biopesticides market. Moreover, presence of beneficial microorganisms that are less vulnerable to genetic variations will enhance the crop yield. Technological advancement in the farming practices with adoption of innovative products will trigger the demand.

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Increasing population along with reducing arable land globally are the key factors fueling the biopesticides market growth. Strong regulatory compliance for organic pesticides along with high efficiency are projected to fuel the product demand. High availability of the chemical pesticides with superior effectiveness and quick result properties are the major restraints of the biopesticides market.

Foliar spray holds more than 75% of the overall industry share in 2016. Increasing foliar spray adoption among the farmers due to its easy handling properties will stimulate the biopesticides market growth. Effective ingredient application as compared to the other counterparts will support the industry growth.

North America biopesticides market accounted for over 35% of the industry share in 2016. Rising consumer awareness about organic pesticides along with increasing population will propel the industry growth. High adoption of advanced agricultural practices coupled with changing climatic conditions are the key factors fueling the revenue growth.

Europe biopesticides market will witness gains over 6.2% up to 2024. Shifting preference for healthy and nutritious food, stringent regulations on the chemical pesticides along with government promotions for farmer education will support the regional demand.

Fruits & vegetables accounted for around 70% of the total industry revenue. Increasing product benefits including enhanced yield, low disease occurrences and improved crop quality will enhance the product scope for fruits & vegetables. Development in the agricultural practices to provide better color, and increased sugar content in fruits & vegetables is expected to encourage the industry growth.

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Liquid formulations market will witness gains over 6.2% up to 2024 owing to increased shelf life of the product. It contains inert ingredients including stickers, coloring agents, stabilizers, surfactants, antifreeze compounds and additional nutrients. The product can be easily diluted in water using emulsions, suspension, oil dispersions and suspo-emulsions.

Microbial was worth around USD 950 million in 2016. Yeast, viruses, protozoa, fungi and bacteria are the major microbial sources. Microbial biopesticides are non-pathogenic & non-toxic with functions specific on the distinct species of pests, leaving the other living organisms harmless. It is used in many habitats where chemical pesticides are prohibited including, stream and lake borders of watersheds, urban & recreational areas and schools in agricultural settings.

Global biopesticides market is still at developing stage due to low adoption as compared to synthetic pesticides. Bayer Crop Science, Marrone Bio Innovations, Monsanto Company, Koppert Biological Systems, BASF, Certis, and Valent Biosciences are the major industry players.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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