Biopesticides Market was valued at USD 5.9 billion in 2022 and is poised to grow from USD 6.7 billion in 2023 to USD 21.81 billion by 2031, growing at a CAGR of 15.9% during the forecast period (2024-2031).
Biopesticides market is a steadily progressing market due to growing organic farming and mounting demand for organic food. Biopesticides hold great competency in agricultural pest control without harming the ecological chain or degrading environment pollution. Extensive studies and development of practical uses in the biopesticides domain significantly alleviate environmental pollution produced by residues of pesticide and encourage sustainable agricultural development. Ever since the introduction of biopesticides, the market has seen the development of innumerable products, of which most already play lead roles. Also, consumers are gaining awareness for the benefits of chemical-free production options, stimulating the farmers to adopt organic farming, and impelling biopesticides demand.
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Several regions across the globe are gaining awareness of the advantages offered by biopesticides like the United States, China, and the European Union. Most nations like Brazil, are experiencing registration of numerous novel products every year. Governments are also supporting the use of biological products, identifying their potential in sustainable farming. Emerging economies are progressively adopting biopesticides to meet the global standards for sustainable agriculture. From among different crops, the fruits and vegetables segments are leading, with leafy greens and tomatoes being the highly demanded crops. Also, soybeans, rice, and corn are a few other crops that are witnessing higher demand. This trend is expected to rise in future owing to the growing population that demands healthy foods. The growth of biopesticides is also impelled majorly by sustainability and associated regulations.
Biopesticides to Emerge as a Favorable Substitute to Harmful Synthetic Pesticides
In the course of time, synthetic pesticides have been used to enhance crop quality. When these pesticides are applied, their overuse and surplus discharge in water bodies cause severe diseases like cancer, diabetes, eczema, kidney diseases, heart disease, and more. Similarly, synthetic pesticides negatively impact soil microbes, plants, animals, and soil texture. The risks related to synthetic pesticides have enforced the need for cheaper, sustainable, and eco-friendly substitutes, biopesticides. These biopesticides can be obtained from plants, microbes, and nanoparticles of biological basis. As compared to synthetic pesticides, microbial pesticides are dedicated in nature, can be sought without costly chemicals and are eco-friendly with no harmful effects.
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- In October 2022, Koppert Biological Systems, a leading provider of biological control in Brazil and across the globe increases its business operations in the nation with spending of $ 700 million in the coming years for better production capacity.
- Syngenta company and Lavie Bio contracted to accelerate the R&D for biopesticides in April 2024. Speedis one challengeseen in the biologicaldomain, andthe company is taking initiatives throughresearch and developments, and collaborations.
- AlphaBio Control, a UK-based company and Bayer signed a contract to obtain an exclusive license for a novel biological insecticide, in April 2024. This novel product is specially for arable crops, comprising cereals and oilseed rape.
- In October 2022, Biotalys and Novozymes announced the positive result of the study for the foremost proprietary biocontrol product participant of Evoca™*, Biotalys. Novozymes gained concept proof for a novel production procedure that delivers scaling advantages and major price of goods, thus expanding the commercial opportunity of Evoca as a new biofungicide.
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Extensive Research and Developments in Biopesticides will Deliver Durable Solutions
Undoubtedly, biopesticides are transforming agricultural innovations and will eventually replace chemical pesticides. Most biopesticides are the best alternatives for their traditional chemical equivalents no pollution agricultural production but there are still some challenges. One such challenge is the shorter shelf-life of biopesticides since they need certain conditions and temperatures for existence during storage and transport. This should be considered by researchers in the domain for durable biopesticide production.
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