BIOPESTICIDES MARKET ANALYSIS

Biopesticides MarketSize and Trends

The global biopesticides market size is expected to witness potential gains in the future, and register a significant CAGR of 15.92% over the forecast period (2019 - 2027). The market was valued at US$ 2.9 billion in 2018, and is expected to reach US$ 6.5 billion by 2027.

Market Overview

Biopesticides are derived from natural materials such as plants, bacteria, fungi, and virus. There are three major types of biopesticides: biochemical pesticides, microbial pesticides, and plant-incorporated-protectants (PIPs). Biopesticides are used in organic farming, eco-friendly pest management, controlling pant diseases, seed treatment, and soil amendments. Mass production of biopesticides can be achieved by developing carrier based formulation by the use of native strains of Trichoderma and biofertilizers. Bacillus thuringiensis can also be used to produce biopesticides. Materials of plant origin can also be used in biopesticide production such as legumes, cereals, plant extracts, tubers, yeast powder, and fodder yeast. Various naturally occurring materials can also be used as biopesticides such as Insect pheromones and other semiochemicals.

Market Trends