Global Biopesticides Market – Growth, Trends And Forecasts (2014 – 2019)
Jun 27 2014
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The crop protection industry worldwide has made a marked shift towards utilization of biopesticides in favor of conventional mineral oil-based pesticides. This has been necessitated due to a variety of factors, including the negative impact of pesticide use on humans, animals and the environment and non-biodegradability of regular pesticides. A recent publication from Mordor Intelligence substantiates this fact, giving critical insights into reasons for greater adoption of biopesticides, emphasizing some of the major growth areas. Volume and value demand for biopesticides is slated to outpace synthetic pesticides by a considerable margin globally, with bioherbicides emerging the largest and biofungicides the fastest growing sub-segments. By region, while North America would retain its dominance in terms of volume and value of biopesticides demand, Asia-Pacific is anticipated to surpass other global markets by progressing at a faster rate.
On the other hand, one major factor limiting production of biopesticides is the large number of smaller companies engaged in the same, with outlays required for registration and demonstrating new products to growers being significantly high. To overcome this bottleneck, the United States’ IR-4 program has been of immense help in assisting with the process of registering sustainable pest management products for minor crops. As a consequence of this program, the EPA was able to approve more biopesticides compared to regular products in 2010. However, several larger players, such as Monsanto have recognized the potential offered by biopesticides and are investing in smaller companies to evaluate new products.
In recent times, research and development efforts in the field of biopesticides have been able to support the claims of effectiveness that was not possible in the past. Products with proven success now offer increased shelf life and residual activity, treating a much more extensive range of weeds and pests. This has resulted in biopesticide sales growing by leaps and bounds over the past decade.
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