Biopesticides Market

Market Leader - Biopesticides Market

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. The benefits associated with biopesticides are the key factors contributing to the growth of this market globally. The increase in demand for sustainable agriculture practices, integrated pest management, pest resistance & resurgence, organic farming, and the growing need to curb post-harvest crop losses have encouraged the development of biopesticides. The biopesticides market is a steadily growing sector in the crop protection industry and has been growing at a significant rate due to the rise in demand for organic food, increase in area under organic farming, phase-out of key active ingredients, and a ban on active ingredients.

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 factors encouraging the growth of this organized market. Key players in the 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).

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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 that are 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 would strengthen the market position in the crop protection sector.

Syngenta AG is one of the key players in the 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 of the biological solutions market. 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. In 2020, Syngenta AG and Novozymes A/S (Denmark) launched biofungicide, TAEGRO, in Europe and Latin America that cater to the crop management programs against diseases and pests, such as powdery mildew and Botrytis.

Bayer AG (Germany) is one of the leaders in the crop protection business and caters to the agriculture industry by providing seeds and crop protection chemicals. The recent acquisition of Monsanto (US) in June 2018 has driven Bayer’s agriculture business with innovative solutions in the crop protection and seed manufacturing industries. This acquisition has given a cutting-edge to Bayer over other key competitors by expanding its product and service portfolio, offering innovative technologies, and increasing its global presence. In August 2019, Bayer AG, in collaboration with  Certis USA L.L.C (US), launched Requiem Prime (bioinsecticide) for customers, along with the bionematicide, MeloCon WG.

Related Reports:

Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation, Crop Application, and Region - Global Forecast to 2025

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Report Code
AGI 2716
RI Published ON
6/11/2020
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