According to the latest report by IMARC Group, titled "Biopesticides Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global biopesticides market size reached a value of US$ 3.5 Billion in 2019. Biopesticides are biochemical pesticides that are used to control various pests and disease carriers, including rats, ticks and mice. Unlike conventional pesticides, they are relatively less toxic as they are derived from natural sources, such as plants, animals, bacteria, fungi, virus and minerals. They closely target pests and related organisms, which makes them highly effective even in small quantities. Apart from this, since they are decomposable in nature, their usage aids in lowering exposures and pollution rates. As a result, biopesticides are widely used as a preferred solution for long term control of pests and insect infestation in the agricultural sector.

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Biopesticides Market Trends:

The global market is primarily driven by the increasing demand for safe and effective pest control measures in the agricultural sector. Synthetic pesticides often cause microbial imbalance and soil pollution while leaving chemical residues in fruits and vegetables. Rising awareness regarding this, in turn, is facilitating the uptake of biopesticides. The market is further driven by the growing adoption of organic farming practices. This is being supported by the enhanced focus toward agricultural sustainability and environmental safety, along with significant growth in the agricultural sector. Inflating disposable incomes and changing lifestyle preferences of the masses have also led to the increasing demand for organic fruits and vegetables. This, coupled with the implementation of stringent government regulations to limit the use of chemicals and favorable initiatives undertaken to promote sustainable farming practices, is creating a positive outlook for the market. On account of the aforementioned factors, the market is expected to reach a value of US$ 7.8 Billion by 2026, registering a CAGR of 14.5% during 2021-2026.

Market Summary:

• On the basis of the product, the market has been divided into bioherbicides, bioinsecticides, biofungicides and others.

• Based on the formulation, the market has been bifurcated into liquid and dry.

• On the basis of the source, the market has been classified into microbials, plant extracts and biochemicals.

• Based on the mode of application, the market has been categorized into foliar spray, seed treatment, soil treatment and post-harvest.

• On the basis of the crop type, the market has been segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.

• On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.

• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BASF SE, Bayer AG, Certis USA L.L.C., FMC Corporation, Isagro SpA, Koppert Biological Systems, Marrone Bio Innovations, Novozymes A/S, Stockton (Israel) Ltd., Syngenta Crop Protection AG, The Dow Chemical Company, and Valent BioSciences LLC.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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