Biopesticides Market Size to Worth Around US$ 8.5 billion by 2031 | Valent BioSciences Corporation, Certis (US)

The global biopesticides market size is expected to witness potential gains in the future, and register a significant CAGR of 15.92% over the forecast period

KIELBOROUGH, MINNESOTA, UNITED STATES, August 1, 2024 /EINPresswire.com/ -- Market Overview:

Biopesticides are certain types of pesticides derived from such natural materials as animals, plants, bacteria, and certain minerals. They are an important component of integrated pest management (IPM) programs, which focus on resulting in economic crop production and reduced risk to humans and the environment. Some key applications of biopesticides include seed treatment, on-farm, and post-harvest applications.

Market Dynamics:

Stringent regulatory standards on synthetic pesticides and the focus toward sustainable agriculture are driving the demand for biopesticides. The U.S. Environmental Protection Agency (EPA) and European Union regulators have banned or limited the use of many conventional pesticides. For instance, the European Union’s Sustainable Use Directive encourages using biopesticides as an alternative to chemical pesticides. Additionally, the growth in organic food industry and rising consumer demand for organic products are propelling the biopesticides market growth. Developing economies are also promoting biopesticide owing to their minimal environmental impact as compared to conventional pesticides. Continuous investment by leading players in R&D to develop new biopesticide formulations is further fueling the market growth over the forecast period.

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Major Driver: Increasing Consumer Awareness Towards Toxic Effects of Synthetic Pesticides and Their Impact on Environment and Human Health

Consumers today are more aware of the harmful effects caused by excess use of synthetic pesticides on the environment and human health. Repeated and indiscriminate use of these pesticides over long periods have contaminated soil and water bodies. They have also been found to cause cancers, neurological disorders, reproductive problems, and other health issues in human beings. Growing scientific evidence about such harmful impacts is making consumers shift towards organic and sustainable farming practices which rely more on biopesticides. The increasing demand for organic and chemical-free food is a major factor driving the growth of the global biopesticides market.

Major Opportunity: Rising Investment and Collaboration in R&D of Biopesticides

There is a significant increase in investment and collaborative R&D taking place between governments, private companies, and research institutions to discover and develop novel and more effective biopesticides. Governments across regions like Europe, USA, India, China, Brazil etc. are funding numerous research projects focused on isolation, characterization and formulation of microbial agents, plant extracts and other natural biopesticides. Private players are also aggressively investing in strengthening their product pipelines. Such efforts are expected to lead to discovery of new and more potent biopesticides that can control a wide variety of pests. Intensified collaboration between players will further help in overcoming technical and market challenges. The rising global R&D focus presents huge opportunities for involved companies to commercialize more innovative and sustainable biopesticide products in the coming years.

Major Trend: Launch of Biopesticide Products Targeting Specific Pests or Crops

A notable trend gaining momentum in the biopesticides industry is the launch of more specialized and targeted product formulations. Earlier, biopesticides mainly consisted of broad-spectrum products offering multiple pest control. However, companies are now introducing nano-formulations, pheromone-based, and other products engineered specifically for controlling certain key pest species or for select high-value crops. For instance, newer biofungicides are designed particularly for major diseases in fruits/vegetables, while bio-insecticides focus on key insect pests in cereals, cotton etc. Similarly, some cater to specific growth stages of target pests. These customized products promise enhanced efficacy and optimized cost-effectiveness for farmers. Their market-driven product development and precise formulations are improving biopesticide adoption amongst crop growers.

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Top Companies Included in This Report:

★ MHI Vestas Offshore Wind
★ Siemens Gamesa Renewable Energy
★ S.A.
★ J.J Cole Collections
★ Sinovel Wind Group Co.
★ Ltd
★ Erndtebrücker Eisenwerk Gmbh & Co. Kg
★ Northland Power Inc.
★ ABB Ltd.
★ Ming Yang Smart Energy Group Limited
★ Adwen Gmbh
★ General Electric Company
★ A2SEA A/S
★ Nexans

Market Segmentation:

Based on Product Type:

★ By Foundation: Floating and Bottom Founded
★ By Component: Turbine, Substructure, and Others (Electric components, etc.)
★ By Location: Shallow Water, Transitional Water, and Deep Water

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

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