Biopesticides Market
REPORT DESCRIPTION
Biopesticides Market - Global Industry Analysis , Size , Share , Growth and Forecast 2015 - 2023
The global biopesticides market is partially consolidated with the top five players accounting for about half the market share . Some of the big names operating in the market are BASF SE , Arista Life Sciences , Valent Biosciences Corp , Bayer Crop Science AG , and Dow Agro Sciences , Novozymes A / S . They have invested heavily in research and development of new bio pesticides , particularly biochemical pesticides , microbial pesticides , and plant-pesticides .
The global market for biopesticides is regulated tightly by government . The U . S . Department of Agriculture and Department of Food and Drugs Administration were the first to formulate rules pertaining to pesticides . Later the Environmental Protection Agency ( EPA ) had been tasked with formulating rules and monitoring the market . The EPA has significantly supported research and development activities in the U . S . and this would likely lead to the unveiling of new biopesticides in the near future . Sensing opportunity in the market , prominent agrichemical companies have forayed into it through partnerships , licensing deals , and acquisitions .
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The global market for biopesticides was worth US $ 1.96 bn in 2015 and is predicted to attain a value of US $ 4.17 bn by 2023 by clocking a CAGR of 9.9 % from 2015 to 2023 .
Spiking Demand for Organic Food Makes Microbial Pesticides the Dominant Segment Among the various types of active ingredients used in bio pesticides , the microbial pesticides lead the market . This is because in the past couple of years , many manufacturers have embarked upon the discovery of microbial bio pesticides driven by the demand for organic food products . The segment is expected to expand at a healthy CAGR of 9.70 % between 2015 and 2023 .
Geographically , the global market for bio pesticides can be divided into North America , Europe , Asia Pacific , and the Rest of the World . North America , among them , dominates the market with a leading share . In the near future too North America is expected to see steady growth powered by demand from
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