Ocean View, Delaware, May 24, 2017 (GLOBE NEWSWIRE) --
The industry growth report “ Biopesticides Market Size By Product (Bioherbicides, Bioinsecticides, Biofungicides), By Application (Seed Treatment, Foliar, Soil Spray), By Crop (Grains & Oil seeds, Fruits & Vegetables), By Form (Dry, Liquid), By Source (Microbial, Biochemical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Kazakhstan, Ukraine, Bulgaria, Greece, Turkey, China, India, Japan, Indonesia, Thailand, Australia, South Korea, Malaysia, Mexico, Brazil, Argentina, Saudi Arabia, South Africa, Egypt, Tunisia), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024” by Global Market Insights, Inc. says Biopesticides Market size is slated to surpass USD 2.5 billion by 2024.
Crop loss trends and a strong policy structure against the use of synthetic counterparts will drive biopesticides market growth. Decrease in arable land, rising population and growing need for enhanced crop yields remain key factors fueling product penetration.
Shifting consumer preference towards organic and sustainable food accompanied by innovation in technology will drive industry growth. Bioherbicides market was valued more than USD 100 million in 2016. Strong application potential due to usability timelines and efficient functioning will drive the product demand. Increasing necessity to improve farm productivity along with regulatory support are the key factors fueling the industry growth.
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Bioinsecticides will witness CAGR over 6% up to 2024. Rising pests and insects attack levels due to continuous climatic changes coupled with increasing demand for organic pest control are the key driving factors of the industry growth.
Ban on agrochemicals including paraquat and neonicotinoids along with petition to ban glyphosate will facilitate the biopesticides market penetration. Low R&D expenses, ease of registration, along with government subsidies will encourage industry growth over the forecast period.
Lack of awareness among farmers along with large presence of recognized pesticide brands are factors restraining industry growth.
Browse key industry insights spread across 270 pages with 415 market data tables & 12 figures & charts from this 2017 report Biopesticides Market in detail along with the table of contents at:
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Foliar spray dominated the industry accounting for more than 75% of the overall demand in 2016. Increasing adoption of smart farming techniques coupled with extensive R&D will drive the industry. Seed treatment applications were valued over USD 130 million in 2016. Disinfection of seeds for irradiating pathogens and improving seed performance are key benefits offered by the product.
Fruits & vegetables accounted for over 70% of the industry share in 2016. Rising awareness regarding nutritional values of food and healthy diet will support the product penetration in this segment. Increasing demand for organic fruits & vegetables will drive the product demand in this segment.
Liquid biopesticides market will witness growth over 6.2% due to its relatively increased shelf life. Water-based formulations consist inert ingredients including stabilizers, surfactants, stickers, coloring agents, anti-freeze compounds, and additional nutrients.
Biopesticides market size from microbial sources was valued more than USD 1 billion in 2016. Microbial products are widely used in habitats, where chemical pesticides are prohibited including stream or lake borders, recreational areas and schools.
U.S. biopesticides market generated over USD 550 million in 2016. Shifting preference towards organic food along with rising consumer awareness about health and environment will drive the demand. Germany market will witness growth over 6% up to 2024. Government as well as institutional initiatives and promotions for product usage will positively influence the product demand in this region.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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