Albany – NY:, Sept. 21, 2017 (GLOBE NEWSWIRE) —
According to Transparency Market Research, the global biopesticides market is expected to rise to a value of US$9.5 bn by 2025. The market was valued at US$3.3 bn in 2017 and is expected to exhibit a robust 13.9% CAGR therein.
Geographically, North America is likely to remain the leading revenue generator in the global biopesticides market in the coming years. Nevertheless, Asia Pacific and Europe are expected to be more important to the global biopesticides market due to the greater growth potential of the market in these regions. Europe is likely to exhibit a strong 14.7% CAGR in the 2017-2025 forecast period to rise from US$540.4 mn to US$1,613.8 mn by 2025. Asia Pacific is expected to rise to US$2,933.9 mn by 2025, exhibiting a 14.2% CAGR from 2017 to 2025. The North America market for biopesticides is expected to rise to US$3,667.5 mn by 2025.
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Growing Awareness about Environmental Viability of Agriculture Drives Demand for Biopesticides
The rising use of biopesticides is part of a larger movement towards making advanced agricultural practices harmonious with the environmental conditions. This has become a popular move in several developed economies, with a subsequent rise in government support leading to growing adoption of the biopesticides market. The fertile agricultural research and development scenario in developed Western economies such as the U.S. and the U.K. has also helped growth of the biopesticides market thanks to the easy availability of advanced research and product development tools.
The presence of traditional biopesticide systems in several Southeast Asian countries such as China and India has helped the growth prospects of the Asia Pacific market for biopesticides. Many local players have found a growing market, which has raised the amount of activity from more prosperous Western market players. This is likely to drive the biopesticides market in countries such as China, India, and Australia in the coming years. Rising government initiative towards the use of ecofriendly agricultural products in key countries such as China, India, and Australia has made the market all the more attractive for existing as well as new players.
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Improving Fruit Production Offers Excellent Growth Opportunities
Rising fruit production in North America and Europe is likely to be a major driver for the biopesticides market in the coming years. Biopesticides are highly effective against microbial infections that plague fruit crops, leading to their growing acceptance in the agriculture sector across the world. The growing awareness regarding the benefit of biopesticides in comparison to conventional chemical pesticides in fruit farming is likely to lead to rising government support in the coming years, which will aid the growth of the biopesticides market. The growing demand for exotic fruits and the rampant globalization of the food and beverage industry is thus likely to be a key driver for the global biopesticides market, as it will enable a steady growth in demand from the market.
Key players in the global biopesticides market include Certis USA L.L.C., Syngenta, FMC Corporation, Nufarm Agricultural Products, AGRICHEM, S.A., BioWorks, Inc., AgriLife, and Monsanta. Established players are likely to advance their claim in the global biopesticides market in the coming years due to the prevalence of firmly established sales and promotion channels in various regions. However, new players could enter the biopesticides market on the local scale in a number of regions. The competitive landscape of the global biopesticides market is thus likely to be fragmented in the coming years, with many established players looking to acquire smaller entities in regional markets.
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The information in this preview comes from a Transparency Market Research report titled ‘Biopesticides Market (Product – Bioinsecticides, Biofungicides, Bioherbcides, Bionematicides; Application – Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025.’
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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