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The global Biopesticide market has been estimated to cross USD 2527.1 million in 2016. The market is expected to register a CAGR of 13.3% during the forecast period, 2018 to 2023. North America is the largest market that puts the value of Biopesticide market at USD 967.9 million in 2016, and is poised to post a CAGR of 8.48% during the forecast period
Growing Demand for Food Safety and Easy registration procedure drives the market
Being less harmful than synthetic pesticides, Biopesticide typically affect only the target pest and other organisms closely related to it, as against broadspectrum conventional pesticides, which can be harmful to other organisms, such as, birds, insects, and mammals. Biopesticide can be very effective even in very small quantities and are quick to decompose, which causes lower exposure levels and prevents pollutionproblems associated with traditional pesticides
The future opportunity for companies lies in the increasing registrations of Biopesticide in various regional markets. The EPA requires fewer data and provides a simpler registration process, which is completed within a year, compared to the threeyear tenure for synthetic pesticides. As a result, more companies are expected to take a voluntary step towards increasing their Biopesticide portfolio.
North America dominates the market share
North America is the largest market that occupies 40% of the global market share and is poised to post a CAGR of 8.48% during the forecast period. Increasing demand for chemicalfree crops and the growing trend of organic farming have led to augmented usage of Biopesticides.
The United States forms the largest biopesticides market by value among rest of the countries, globally, with 66% market share, followed by Canada. The increasing acreage of crops, and the demand for organic products have driven the biopesticides market in the United States. Mexico is expected to be the fastest growing market in the region, with a CAGR of 9%, over the forecast period.
Key Developments in the Market
In 2017, Bayer Crop Science has reached an important milestone towards the market introduction of its biological insecticide Requiem in Europe
Major Key Players BAYER CROP SCIENCE AG, BASF SE, CERTIS LLC, AGRAQUEST, KOPPERT BIOLOGICAL SYSTEMS, MARRONE BIOINNOVATIONS, VALENT BIOSCIENCES, NOVOZYMES BIOLOGICALS
Reasons to Purchase this Report
To have an understanding of the fastest growing or/and largest regions during the forecast period
The report outlines drives, restraints and trends that are currently effecting the market
Analyzing various perspectives of the market with the help of Porter's five forces analysis
The report covers indetail insights about the competitors overview, company share analysis
Identify the latest developments, market shares and strategies employed by the major market players.
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Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.
Original Article: Global Biopesticides Market Segmented by Product, Formulation, Ingredient, Mode of Application,Application and Geography Growth, Trends and Forecasts 2018 2023 [Report Updated: 08022018] Prices from USD $1923NEXT ARTICLE
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