Liquid biopesticides market will witness growth over 6.2% due to its relatively increased shelf life. Water-based formulations consist inert ingredients including stabilizers, surfactants, stickers, coloring agents, anti-freeze compounds, and additional nutrients.
Biopesticides market size from microbial sources was valued more than USD 1 billion in 2016. Microbial products are widely used in habitats, where chemical pesticides are prohibited including stream or lake borders, recreational areas and schools.
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U.S. biopesticides market generated over USD 550 million in 2016. Shifting preference towards organic food along with rising consumer awareness about health and environment will drive the demand. Germany market will witness growth over 6% up to 2024. Government as well as institutional initiatives and promotions for product usage will positively influence the product demand in this region.
North America biopesticides market accounted for over 35% of the industry share in 2016. Rising consumer awareness about organic pesticides along with increasing population will propel the industry growth. High adoption of advanced agricultural practices coupled with changing climatic conditions are the key factors fueling the revenue growth.
Asia Pacific biopesticides market will witness significant growth due to increasing investment from several multinational companies, advancement in biotechnology, demand for organic food and improving farming practices.
Europe biopesticides market will witness gains over 6.2% up to 2024. Shifting preference for healthy and nutritious food, stringent regulations on the chemical pesticides along with government promotions for farmer education will support the regional demand.
Growing consumer awareness, rising demand for organic food along with favorable government regulations for organic products are the key factors driving the biopesticides market growth. Harmful environmental effects of chemical pesticides including surface & ground water pollution, soil & air contamination, adverse effects on non-target organisms will enhance the product demand.
Inclination towards sustainable farming practices to improve crop yield will propel the biopesticides market. Moreover, presence of beneficial microorganisms that are less vulnerable to genetic variations will enhance the crop yield. Technological advancement in the farming practices with adoption of innovative products will trigger the demand.
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Increasing population along with reducing arable land globally are the key factors fueling the biopesticides market growth. Strong regulatory compliance for organic pesticides along with high efficiency are projected to fuel the product demand. High availability of the chemical pesticides with superior effectiveness and quick result properties are the major restraints of the biopesticides market.
Foliar spray holds more than 75% of the overall industry share in 2016. Increasing foliar spray adoption among the farmers due to its easy handling properties will stimulate the biopesticides market growth. Effective ingredient application as compared to the other counterparts will support the industry growth.
Industry giants are investing intensively in R&D activities to modify the farming techniques, which will favorably stimulate biopesticides industry share. BioWorks Inc., Syngenta, BASF, Bayer, DuPont, Stoller, Koppert, ADAMA Agricultural Solutions, Valent BioSciences Corporation, Dow, Futureco Bioscience, and Nufarm Limited are few of the key participants in biopesticides market.
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