The global biopesticides market is anticipated to grow at a significant CAGR during the forecast period. Biopesticides are used for managing invertebrate pests, plant pathogens, and weeds with the pesticides that are derived from natural materials as animals, plants, bacteria, and many more.
The biopesticides also aid in restricting the process of soil erosion as it lacks toxic chemicals.
Additionally, the increasing government support towards the bio-based agriculture practices will potentially drive the biopesticides market during the forecast period.
The global biopesticides market is segmented based on type, source, and application.
Based on the type, the market is sub-segmented into bioherbicide, bioinsecticide, bio fungicide, and others.
Based on the source, the market is segmented into microbial pesticides, plant pesticide, and biochemical pesticides.
The microbial pesticide segment is estimated to grow at a considerable CAGR during the forecast period. Further, based on the application, the market is sub-segmented into foliar spray, seed treatment, soil treatment, and post-harvest.
The global biopesticides market is further segmented based on geography into North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and the Rest of the World. North America is expected to hold a significant share in the market during the forecast period.
The growth in the region is owing to the increased demand for organic food products across the region.
Some of the key players operating in the global biopesticides market include Bayer Cropscience Ltd., Marrone Bio Innovations, Inc., IsagroSpA, Syngenta AG, United Phosphorus Ltd., Certis USA L.L.C., and others. The market players are considerably contributing to market growth by adopting various organic and inorganic growth strategies to stay competitive in the market.
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