(PharmaNewsWire.Com, January 09, 2018 ) The Global Bio Pesticides market is estimated to grow to USD 8.82 Billion in 2024 from USD 3.36 Billion in 2017 with a CAGR of 17.4% during forecast period (2018-2024). Due to the increase in crop loss through various diseases and insects in the farms, these biopesticides are used to eradicate the crop loss and harmful insects in the farms. The use of bio pesticides are the advanced level of agricultural practices. The market of biopesticides increases in forecast period due to the rising organic food demand and increase in research & development of major pesticides companies. The main reason for increasing the market is raising population, decrease in cultivable land and decrease in the quality of crops. The use of biopesticides was widely used in Fruits, Vegetables, Grains and cereals in many regions.
Biopesticides are segmented into bioherbicides, bioinsecticides, bio nematicides and bio fungicides. Bio insecticides have a huge market because they have high tendency to protect the crops in various aspects. Insects have a capability to resist pesticides, so the bioinsecticides are mostly preferred. These bio insecticides have high flexibility and they are more convenient to use. In biopesticides, the bio insecticides are widely used. The bioinsecticides are estimated as the fast growing in the upcoming eight years.
Bio Pesticides are heavily used in fruits and vegetable segment
The biopesticides are majorly sprayed on oilseeds, grains, fruits, vegetables, sugar crops and cotton plants. Among all of these, bio pesticides has large market share in fruits and vegetable segments. As the growth of fruits and vegetables market increases, the awareness of bio pesticides also increases with growing nutritional benefits. The increase in the demand and productivity of crops drives the bio pesticides market in the vegetables and fruits segment.
North America is the leading consumer of Bio Pesticides market
In North America, advanced level of agricultural practices is done for the cultivation. The bio pesticides market in North America is high due to the need for organic food products, change in farming practices into smart cultivation and investing huge amount in research and development. In North America U.S is considered as largest country level market. The rapid change of climatic conditions, need of nutrients for the agricultural growth and productivity drives the bio pesticides market in North America.
The vital players in the Bio Pesticides market are Marrone Bio Innovations Inc. (U.S.), Certis USA LLC (U.S.), Monsanto Company (U.S.), Isagro SPA (Italy), Camson Bio Technologies Limited (India), and Valent Biosciences Corporation (U.S.).
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