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.
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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.
Increasing number of product approvals from environment agencies such as the Environmental Protection Agency (EPA) are expected to boost growth of the market further. Owing to the fewer risks posed by biological pesticides compared to conventional, chemical pesticides, getting approvals is generally a quicker, easier process, which is likely to make biopesticides a more preferred choice in the agricultural community. Furthermore, growing demand for sustainable alternatives to synthetic substances, as well as inclination towards adopting natural product-based strategies in food production are projected to benefit the market growth over the next few years. Increasing research on pesticides of plant origin is likely to benefit the growth of the biological pesticides market over the forecast period.
It is worth noting, however, that the mode of administration for biopesticides is quite specific. As a result, unlike conventional pesticides, applying biopesticides requires a fair amount of user knowledge to achieve efficiency, such as application time, application intervals, and field rates among others. Lack of sufficient knowledge with regards to application can lead to poorer yield or higher production cost, which, in turn, is expected to hamper the market growth to some degree.
Market Outlook
Environmental regulations in North America and Europe, particularly Western Europe, have led to an increase in adoption of plant based products and organic farming. This is expected to drive demand for biological pesticides in these regions. Moreover, stringent regulations placed on the use of chemical pesticides by the Environment Protection Agency (EPA) in the U.S. is boosting growth of the market. Increasing number of research and development activities by research institutions and investment in technological advancements by key players are expected to account for a major market share in the global biological pesticides market. Usage of biopesticides in other regions such as Asia Pacific and Latin America is projected to witness considerable growth over the forecast period. Government initiatives to raise awareness among the agricultural community in countries such as India regarding application of biopesticides is expected to propel growth of the Asia Pacific market over the forecast period.
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Key Players
Some of the key players operating in the global biological pesticides market are Dow Chemicals, Du Pont (EI) de Nemours, Henkel AG, Bayers AG, and BASF SE among others.
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