Poster in Jul 02, 2024 12:23:15

Global Biostimulants and Biopesticides Market Poised for Significant Growth, Reaching US$20 Bn by 2030

Global Biostimulants and Biopesticides Market Poised for Significant Growth, Reaching US$20 Bn by 2030

The global biostimulants and biopesticides market is set to experience robust growth, expanding at a compound annual growth rate (CAGR) of over 10% from 2023 to 2030. By the end of 2030, the market is expected to reach an impressive value of approximately US$20 billion. This growth trajectory underscores the increasing demand for sustainable agricultural practices and the rising awareness of the benefits of biostimulants and biopesticides in promoting plant health and protecting crops.

Key Report Findings

Robust Market Growth: The global biostimulants and biopesticides market will expand at a significant rate of more than 10% CAGR between 2023 and 2030.

Rising Demand: The demand for biostimulants and biopesticides is growing due to the increasing preference for natural crop protection methods and organic nutrition products.

Market Dominance: Biopesticides will continue to dominate the global market in terms of sales.

Leading Segment: The fruits and vegetables category held the largest market revenue share in 2022.

Regional Leadership: Europe will continue to lead the market, whereas the Asia Pacific region will experience the strongest growth till 2030.

Growth Drivers

Rising Preference for Natural Crop Protection and Nutrition Products

The growing consumer preference for natural crop protection and nutrition solutions is a key driver for the market's growth. Concerns over the environmental impact of traditional chemical pesticides and fertilizers are prompting consumers and farmers to seek more environmentally friendly and sustainable options. Biostimulants and biopesticides, made from natural sources, provide a safer alternative with lower environmental risks.

Soaring Popularity of Organic Farming in Line with Surging Consumer Demand for Biological Food

Biostimulants and biopesticides are integral to organic farming techniques, which prohibit synthetic chemicals. As consumers become more health-conscious, the demand for organic food, produced with biostimulants and biopesticides, continues to rise. These products enhance plant growth, improve yield, and ensure healthier, pesticide-free food options, aligning with the increasing trend toward organic food production.

Regulatory Landscape Analysis

Regulations and Guidelines for Using Biopesticides and Biostimulants

Regulatory frameworks play a crucial role in ensuring the safety and efficacy of biopesticides and biostimulants. However, the registration and approval process can be lengthy and costly, potentially deterring some businesses from entering the market. Furthermore, varying regulations across different regions can pose challenges for manufacturers, affecting product availability and market expansion.

Overview of Key Segments

Biopesticides Continue to Sell Higher with Growing Need for Increased Agriculture Yield

Biopesticides are essential for protecting crops against pests such as worms, mites, and insects. They are compatible with various crops, including fruits, vegetables, grains, and fiber crops. Biopesticides are particularly beneficial in integrated pest management (IPM) and organic farming systems, offering a sustainable solution for pest control without harming beneficial insects or pollinators.

Strong Demand Growth Expected in Fruits & Vegetables Segment

The fruits and vegetables segment is projected to be the fastest-growing market segment. Biopesticides and biostimulants enhance plant growth, improve resistance to abiotic stressors, and boost crop yield and quality. Bioinsecticides and biostimulants are increasingly used in fruits and vegetables to ensure healthier, higher-quality produce, making them essential components of sustainable agricultural practices.

Growth Opportunities Across Regions

European Markets Present a Hub of Opportunities

Europe is expected to dominate the biostimulants and biopesticides market due to its strong emphasis on sustainable agriculture practices and consumer preference for eco-friendly products. The region's growing organic farming sector relies heavily on biostimulants and biopesticides, driving their popularity. Innovations in biotechnology and formulation methods are expected to enhance product effectiveness and market penetration.

Asia Pacific Will be the Fastest Growing Market

The Asia Pacific region is anticipated to exhibit significant growth during the forecast period. The increasing awareness of sustainable agriculture and the need to eliminate chemical residues in food products are key drivers. Countries like India are focusing on developing biopesticides and biostimulants from native plants and microorganisms, tailored to local pest and disease challenges. The rising adoption of IPM practices further supports the market's growth in the region.

Biostimulants and Biopesticides Market: Competitive Landscape

Leading players in the biostimulants and biopesticides market include Bayer CropScience, BASF, Syngenta (ChemChina), Corteva Agriscience, Biofa GmbH, Certis Europe B.V, COMPO EXPERT GmbH, BIOBEST GROUP NV, AGLUKON, and Humintech GmbH. These companies are at the forefront of innovation, driving advancements in product formulation and application techniques to meet the growing demand for sustainable agricultural solutions.

-By Swati Tiwari, Marketing Manager, 

Source: Email/GFMM

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