BIOLOGICAL PESTICIDE MARKET ANALYSIS

Biological Pesticide MarketSize and Trends

The global biological pesticides market size is projected to surpass US$ 6.5 billion by 2027, and register a CAGR of 16.1% over the forecast period (2019 - 2027).

Market Overview

Biological pesticides are compounds that contain natural agents derived from plants, animals, minerals, or bacteria, for managing agricultural pests, disease causing pathogens, and weeds. Biological pesticides can be classified into three types depending on their application, such as microbial pesticides, plant-incorporated protectants (PIPs), and biochemical pesticides. Microbial pesticides contain microorganisms such as virus, fungi, and bacteria, whereas PPIs are substances produced through genetic material assimilated in a plant. Biochemicals are pesticides derived from naturally occurring compounds that employ non-toxic processes to eradicate pests.

Market Dynamics

Demand for biological pesticides is driven by the wide range of advantages it has over chemical pesticides. Chemical pesticides are known to account for extensive pollution. Moreover, presence of chemical residues in food can cause serious health issues. Biopesticides, however, are comparatively less toxic to humans and the environment, as they do not leave behind toxic deposits on plants, and are specifically targeted at eliminating pests. The demand for biological products is expected to increase over the forecast period since it is safer and sustainable, and can be used extensively as a substitute for chemical pesticides in applications such as Integrated Pest Management (IPM). Moreover, biological pesticides are economical due to their renewable and biodegradable properties, which makes them ideal for application in organic farming.