(I-BusinessNews.Com, June 03, 2021 ) The global biopesticides market size is projected to grow at a CAGR of 14.7% from an estimated value of USD 4.3 billion in 2020 to reach USD 8.5 billion by 2025. Factors such as the increasing awareness of consumers about harmful effects of pesticide residues in crops, increase in demand for organic foods, government support to increase integrated pest management programs, phase-out of key active ingredients, and regulatory ban of pesticides that are detrimental to the public health and environment have led to a huge demand for biopesticides.
The market is driven by factors such as an increase in area under of organically grown crops, growth in concerns regarding the hazards of using pesticides, demand for residue-free high-value crops, gradual phase-out of key active ingredients, and government policies are favoring the implementation of biopesticides.
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The entire biopesticides market is consolidated, with a few players occupying a major share. The wide variety of products offered by these companies for various market trends covered, their strong brand value, their vast geographical presence in terms of manufacturing, R&D units, and distribution partners are the major reasons for this organized market. The key players in biopesticides market include BASF SE (Germany), Bayer AG (Germany), Biobest Group NV (Belgium), Certis USA L.L.C (US), Novozymes A/S (Denmark), Marrone Bio innovations (US), Syngenta AG (Switzerland), Nufarm (Australia), Som Phytopharma India Ltd (India), Valent Biosciences LLC (US), BioWorks, Inc. (US), STK Bio-ag (Israel), Andermatt Biocontrol AG (Switzerland), International Panaacea Ltd (India), Bionema (US), Vegalab S.A (US), Isagro S.p.A (Italy), FMC Corporation (US), Koppert Biological Systems (Netherlands), and UPL Ltd (India).
BASF SE is one of the top players in the chemical industry across the world. The company operates through five major business segments, namely, functional materials & solutions, chemicals, performance products, agricultural solutions, and others. Biological solutions are offered by the company under the product portfolio for crop protection & seed, turf & ornamentals, and urban & rural pest control. This biological solutions segment includes biopesticides (biofungicides & bioinsecticides), inoculants, biostimulants, and pheromones, designed to be a part of IPM programs for both greenhouse and open field growers. The crop protection segment includes foliar- and drench-applied biological solutions. In 2019, the company launched new products in the biofungicide and bioinsecticide segments, which will strengthen the market position in the crop protection sector.
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Syngenta AG is one of the key players in crop protection and seed enhancement business. It operates through crop protection, seeds, professional solutions, and flower markets. The agricultural biologicals are offered through its crop protection business segment. Under the crop protection division, the company offers its solutions for selective herbicides, non-selective herbicides, fungicides, insecticides, seed care, controls, and other crop protection products. The seeds business of Syngenta AG operates in high-value commercial sectors of field crops, including corn, oilseeds, cereals, and vegetables. The collaboration between DSM and Syngenta AG has helped develop microbial-based agricultural solutions, which is aiding the growth in biological solutions. The company has been investing in new product launches to expand its product portfolio and increase the customer base in various regions. In 2019, Syngenta AG launched its first bioinsecticide, Costar, which can be used on more than 50 crops and in 2020, Syngenta AG and Novozymes A/S (Denmark) launched biofungicide, TAEGRO in Europe and Latin America, which caters to the crop management programs against diseases and pests such as powdery mildew and Botrytis.
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