Key Players: AgBiTech Pty Ltd (Australia.), AgraQuest Inc. (U.S.), Andermatt Biocontrol AG (Switzerland), Becker Underwood Inc. (U.S.), Bayer AG (Germany), BioWorks Inc. (U.S.), Certis USA LLC (U.S.).
(PRWEB) June 08, 2014
The report “Global Biopesticides Market – Trends & Forecasts (2012 – 2017)” published by MarketsandMarkets (http://www.marketsandmarkets.com) defines and segments the global biopesticides market with analysis and forecasting of the global revenue for biopesticides. It also identifies driving and restraining factors for the global biopesticide market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, Latin America, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, market is segmented and revenues are forecasted on the basis of applications.
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Biopesticides are basically derived from biological sources such as plants, animals, microorganisms, and certain minerals. They are used to kill harmful organisms responsible for insects and diseases. Different types of biopesticides such as bacteria, fungi, virus, nematodes, botanical extracts, and semio-chemicals are used for various applications such as in seed treatment or on farm application for crop protection as bioinsecticide, biofungicide, bioherbicide, bionematicides, and others. Growth in organic products market due to changing food habits, and awareness regarding chemical residue-free crops are a major driver for global biopesticides market.
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The market is also witnessing an increase in demand for biopesticides due to environmentally friendly approach for crop protection as well as safety benefits of biopesticides in terms of labor and harvesting flexibility.
Biopesticides with new efficient active ingredients are complimenting environment regulations with reduced risk of exceeding maximum residue level and supporting for barrier free trade in global market. Biopesticide new active ingredient registration is less costly and time consuming, hence many participants are continuously making new product registrations.
Growth in organic food market and easy registration than chemical pesticides are other driving factors for global biopesticides market, since organic industry is dependent upon the chemical-free crop protection products to safeguard crops. Factors such as toxicity of crop protection products, environment friendliness, innovative production practices, new product offerings, increased availability, and advent of new pests are increasing the market for biopesticide industry globally.
The global market for biopesticide was valued at $1.3 billion in 2011 and is expected to reach $3.2 billion by 2017, growing at a CAGR of 15.8% from 2012 to 2017. North America dominated the global biopesticide market, accounting for around 40% of the global biopesticide demand in 2011. Europe is expected to be the fastest growing market in the near future owing to the stringent regulation for pesticides and increasing demand from organic products.
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Crop Protection Chemicals Market
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