Research Nester has released a report titled “Biopesticides Market: Global Demand Analysis & Opportunity Outlook 2029” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
For more information’s https://www.researchnester.com/reports/biopesticides-market/3320
Organic agricultural land globally registered to 72.3 Million hectares in the year 2019, according to the statistics by the Research Institute of Organic Agriculture (FiBL). Further, the largest share of organic agricultural land was registered in Oceania, followed by Europe, Latin America, Asia, North America, and Africa with 35.9 Million hectares, 16.5 Million hectares, 8.3 Million hectares, 5.9 Million hectares, 3.6 Million hectares, and 2 Million hectares respectively.
The statistics portray the growing availability of organic agricultural lands worldwide which is expected to drive the demand for biopesticides amongst the farmers for farming purposes. Globally, the sales of organic food products in the recent years have surged drastically. As a result, there is a rising need amongst the farmers to increase their organic produce so as to meet the growing demand for such food products. Moreover, increasing awareness about the benefits of using biopesticides, along with the stringent government norms for the use of toxic pesticides, are some of the additional factors anticipated to drive the market growth.
The global biopesticides market is anticipated to grow with a CAGR of 13.4% during the forecast period, i.e., 2021-2029. The market garnered a revenue of USD 4590.9 Million in the year 2020 and is further expected to reach USD 14191.5 Million by the end of 2029. On the basis of type, the market is segmented into insecticides, herbicides, bactericides, fungicides, and nematicides, out of which, the insecticides segment is expected to hold the largest market revenue throughout the forecast period and further attain the market revenue of USD 3270.9 Million by the end of 2029 by growing with a CAGR of 12.6% during the forecast period.
On the basis of geographical analysis, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst the market in these regions, the market in North America is expected to hold the largest market share of 38.13% by the end of 2029. In the same year, the market is anticipated to garner a revenue of USD 5411.9 Million, backed by the growing initiatives of the government to support organic food culture, and for the rise in demand for clean and healthy food products amongst the end consumers.
However, the high cost of biopesticides is one of the major factors anticipated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global biopesticides market, which includes company profiling of BASF SE, Bayer AG, Syngenta Group, Certis USA L.L.C., Isagro S.p.A., Andermatt Biocontrol AG, Marrone Bio Innovations, Inc., Novozymes A/S, Nufarm Limited, Biotalys NV, Terramera Inc., NewLeaf Symbiotics, Inc., Vestaron Corporation, and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Biopesticides Market: Global Demand Analysis & Opportunity Outlook 2029”, analyses the overall global biopesticides industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global biopesticides market in the near future.
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