A new market study, titled “Discover Global Bio Pesticides Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Bio pesticides refer to the pesticides that are obtained from natural sources like animals, plants, bacteria, and minerals. Bio pesticides are widely used to control the impact of insects, pests, and weeds on the field crops.
Bio pesticides are less toxic than conventional pesticides. It helps in reducing environmental pollution as a very small quantity of the pesticide is effective in securing the crops. The use of bio pesticides ensures high crop yields. The global bio pesticides market is estimated to witness growth by a prominent CAGR over the forecast period.
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Market Drivers
The increase in the concern related to the environment is a major driving factor of the global bio pesticides market. The increase in the health concerns related to the application of synthetic pesticides further boosts the market growth across the globe. The growing awareness about the organic products among the people and their increasing adoption accelerates the demand for the bio pesticides market. Government initiatives for the adoption of eco-friendly products augment the market growth. The shift towards sustainable means of crop yield is expected to fuel market growth in the coming years.
The lack of awareness in the underdeveloped countries about the bio pesticides and their applications is anticipated to restrict the growth of the bio pesticides market.
Market Segmentation
The global bio pesticides market is segmented based on product type, source, formulation, mode of application, application, and region.
Depending on the product type, the global market includes bioinsecticide, biofungicide, bioherbicide, and other products. The bioinsecticide segment holds the leading position in the global market.
Based on the source, the bio pesticides market is fragmented into plant extract, microbial, and beneficial insects. The microbial segment is expected to witness growth during the forecast period.
Based on the formulation, the global market is further segmented into the dry formulation and liquid formulation.
Depending on the mode of application, the global bio pesticides market is segregated into seed treatment, post-harvest, soil treatment, and foliar spray.
Based on the application, the global market includes crop-based applications and non-crop-based applications. The crop-based application is further subdivided into fruit and vegetable, oilseed, grain and cereal, and turf and ornamental grass.
Important Geographical Regions
The important geographical regions of the global bio pesticides market include the Asia Pacific region, Europe region, North America region, Middle East and Africa region, and South America region.
North America region is the leading segment in the global market. The growth of green agricultural practices in the North America region accounts for its leading position. The regional market of Europe is projected to witness the fastest growth during the forecast period.
Key Players of Global Bio Pesticides Market =>
The key players of the global bio pesticides market are Bayer CropScience AG, BASF SE, American Vanguard Corporation, Certis USA LLC, DuPont, FMC Corporation, and Valent Biosciences Corporation. Other important players include Marrone Bio Innovations Inc., Syngenta, Koppert Biological Systems, Stockton, Andermatt Biocontrol, and Bioworks Inc.
Industry Updates
The top players of the industry are increasingly adopting the latest innovations and technologies to offer high-quality bio pesticides. Collaborations among the key players will further lead to the growth of the bio pesticides market.
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