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Global Biopesticides Market - Drivers and Forecasts by Technavio
[August 10, 2017]

Global Biopesticides Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global biopesticides market to grow at a CAGR of more than 17% during the forecast period, according to their latest report.

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Technavio has published a new report on the global biopesticides market from 2017-2021. (Graphic: Bu ...

Technavio has published a new report on the global biopesticides market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global biopesticides market for 2017-2021. The market is segmented based on product (bioherbicides, biofungicides, bioinsecticides, and bionematicides) and geography (North America, Europe, APAC, Latin America, and ROW)

The global biopesticides market is expected to grow with the increasing worldwide population, which will lead to a higher demand for food. Also, the rising awareness of the benefits of organic products, especially among the rapidly growing younger generation in emerging economies, will have a positive impact on the growth of the market. More crop cultivation by farmers will drive the requirement of more biopesticide. Increasing population and urbanization are the two main factors that intensify the competition among manufacturers and at the same time pave the way for more players to enter the market.

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Technavio chemicals and materials research analysts highlight the following three factors that are contributing to the growth of the global biopesticides market:

  • Increase in pest activities due to global warming
  • Improved biological pest control methods
  • Demand for organic proucts

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Increase in pest activities due to global warming

An increase in carbon dioxide (CO2) concentrations increase simple sugars present in leaves and even reduces the nitrogen content. These changes in the environment can increase the damage caused by insects that consume more number of leaves just to meet their metabolic requirements of nitrogen. Higher temperatures due to global warming can provide suitable conditions for pests to survive the winter season.

Kurva Samba Sivudu, a lead agrochemicals and fertilizers research analyst at Technavio, says, "Global warming and climatic changes have drastic effects at various levels, for example, they increase the geographical spread of pests and pathogens, new species in cooler regions, increased risks by migration of pests, reduction in effectiveness of crop protection technologies, and a higher probability of developing pest resistance. These adverse effects are driving the demand for biopesticides that can adapt to changing climatic conditions easily and can sustain changes more often."

Improved biological pest control methods

Botanical pesticides are chemicals that are derived from plants and are used in similar ways as conventional pesticides. They can occur naturally like pyrethroids from chrysanthemum flowers or can be synthesized like nicotine from tobacco. Naturally occurring botanicals are more popular because of their natural sources.

"Insect growth regulators are chemicals that affect insect growth and are available as naturally occurring hormones or synthesized compounds. Insects follow a phenomenon of shedding and growing outer layers of their skin through a process called molting. IGRs interfere with this molting process. Even though mammals exhibit low toxic levels to these insecticides, they affect crabs, shrimps, and other molting animals. However, non-targeted impacts have raised concerns leading to strict regulations on the usage of IGRs," adds Kurva.

Demand for organic products

Rising health concerns and increasing awareness of the health benefits of organic food are enhancing the growth of the global biopesticides market. The increase in income levels leading to better standards of living and government initiatives are other factors driving this market's growth. Consumer behavior has shifted toward health consciousness resulting in the change of preferences and tastes.

Organic food is produced using reusable resources that limit the use of harmful pesticides and chemicals in food products. It is usually observed that organic farming is practiced in small, family-run farms, where utmost importance is dedicated to the quality of soil and water ensuring fertile lands even for future generations. Crop rotation is another farming technique followed to retain soil fertility. This form of farming lowers the toxic load on the environment. These factors are influencing government authorities to fund organic farming practices and are even attracting many private players into this field.

Top vendors:

  • BASF
  • Bayer
  • DuPont
  • Novozymes
  • Sumitomo Chemical

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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