Strict government regulations drive demand for biopesticides
Global Industry Analysts announced the release of a comprehensive global report on the biopesticides markets. Global market for Biopesticides is forecast to reach US$6.2 billion by 2020, buoyed by the enactment of stringent government regulations curbing the use of chemical pesticides.
The pressing need to sustainably ramp up crop productivity and quality to meet the needs of the burgeoning global population against the backdrop of shrinking arable land resources is spurring the importance of bio-based crop production. Growing concerns over the adverse impact of synthetic pesticides is resulting in governments across the globe phasing out hundreds of toxic chemical pesticides, thus creating ample market opportunities for bio-based herbicides, insecticides, fungicides and nematicides. Farmers are being encouraged to adopt eco-friendly cultivation practices such as Integrated Pest Management (IPM) practices which combine synthetic and bio-based pesticides to optimize pest management and control. Unlike chemical products, pre-harvest interval is not mandated for biopesticides, while re-entry intervals are shorter with growers only required to display a cautionary label. Further, the EU and the US governments are strictly imposing maximum residue limit (MRL) on imported food products. Several major food retailers and food processors therefore have zero-tolerance for chemical residues in food products sourced from suppliers. As a result, the biopesticides market has emerged as one of the biggest beneficiaries of the rapidly growing organic farming sector.
The biopesticides market, of late, witnessed a surge in corporate activity with several MNC agrochemical companies foraying into the agricultural biologicals sector through dedicated R&D investment, licensing deals and strategic partnerships, mergers and acquisitions. The relative saturation of the mature synthetic pesticides market, coupled with high cost and time requirements for developing new products are encouraging agrochemicals producers to focus on bio-based pesticides which are subject to less stringent approval requirements, and therefore are more quickly commercialized. The entry of large-scale players is expected to stimulate innovation in the market, besides improving distribution, sales, marketing and branding of these eco-friendly crop protection solutions. In addition to crop protection, biopesticide developers are also branching out into seeds treatment and other non-crop segments such as turf & ornamentals, industrial & institutional pest management, water treatment and animal healthcare, among others. The development of biopesticide-specific customized formulation and fermentation technologies to ensure product efficacy, broad-spectrum applicability and longer shelf-life in various ambient environmental conditions is vital for the growth of Agricultural Biologicals.
As stated by the new market research report on Biopesticides, the United States represents the single largest market worldwide. Europe represents the fastest growing market with a CAGR of 16.6% over the analysis period. Biorationals constitute the largest as well as the fastest growing market segment supported by its ability to control a broader spectrum of pests.
Major players covered in the report include AgBiTech Pty Ltd., Ajay Bio-tech (India) Ltd., Amit Biotech Pvt., Ltd., Andermatt Biocontrol AG, BASF SE, Bayer CropScience AG, Bayer CropScience Biologics GmbH, BionTech Inc., Camson Bio Technologies Limited, Certis USA LLC, Dow AgroSciences LLC, Greeneem, Hebei Veyong Bio-Chemical Co. Ltd., Isagro SpA, Kumiai Chemical Industry Co. Ltd., Lallemand Inc., Laverlam International, Marrone Bio Innovations Inc., Natural Industries Inc., Syngenta AG, Troy Biosciences Inc., and Valent Biosciences Corporation.
The research report titled “Biopesticides: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, issues, challenges, regulatory changes, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, the United Kingdom, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World. Product segments analyzed in the report include microbials and biorationals.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Biopesticides_Market_Report.asp.
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