Often overlooked in the food production process is the growing demand for bio-pesticides. The good news is the global biopesticides market is in for substantial growth, with projections indicating an increase of USD 5.66 billion from now to 2027.
This expansion reflects an impressive annual growth rate of 16.27%, as reported by Technavio in its latest market research report. A significant driver of this growth is the escalating consumer demand for organic products, steering the agricultural sector towards more natural and sustainable practices.
Source: PFN Ai depiction of people working in an organic garden free of pests.
Biopesticides, derived from natural sources such as bacteria, minerals, and plants, offer a viable alternative to synthetic pesticides, which are openly associated with environmental degradation and health risks including cancer.
The organic movement, primarily rooted in small, family-run farms, emphasises the preservation of soil and water quality, ensuring the fertility of lands for future generations.
However more and more countries are turning to biopesticide products for use in industrial scale vegetable and fruit farming, namely Germany, the Netherlands and even Sri Lanka, which now has a total ban on the use of synthetic pesticide and fertiliser products.
Technavio's report, titled "Global Biopesticides Market 2023-2027," highlights the market's fragmentation and predicts North America will contribute 30% to the global market growth, with the US and Canada leading the way. This growth is attributed to simplified registration processes for biopesticides, a growing preference for organic products, and an increased awareness of the adverse effects of synthetic pesticides on human health.
The market segmentation analysis includes bioherbicides, biofungicides, bioinsecticides, bionematicides, and others, with bioherbicides expected to play a significant role in the market's expansion. These are used to inhibit the growth of unwanted plants, utilising microbial agents like bacteria, fungi, and viruses. The shift towards eco-friendly weed killers, coupled with the advantages of reduced chemical hazards and improved crop quality, are key factors driving this segment's growth.
Source: PFN Ai depiction of people working in an organic garden free of pests.
Despite the optimistic outlook, challenges such as a lack of awareness about biopesticides may hinder market growth. However, advancements in molecular-based technologies for biopesticide development and a focus on understanding the interactions between weeds and crops are trends that could further bolster the market.
This surge in the biopesticides market underscores a broader shift towards organic and sustainable agriculture, supported by organizations and governmental bodies worldwide. As the industry evolves, biopesticides are set to play a critical role in meeting global demands for environmentally responsible and health-conscious agricultural practices.
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