Microbial Pesticides Market Overview:
According to the USD Analytics published latest research report, the global “Microbial Pesticides Market” is expected to grow at a tremendous CAGR of 6.42% during the forecast period 2023-2030.
Pesticides produced by naturally occurring fungi, viruses, or bacteria are known as microbial pesticides. Microbial pesticides are often employed to control a particular pest. Microbial pests are particularly cost-efficient in terms of research and development and are less hazardous than chemical-based pesticides due to the rising occurrence of natural bacteria, fungi, and viruses.
Market Drivers:
While chemical or synthetic pesticides would continue to be used in crop protection, human, animal, and environmental health, concerns would play important roles in driving expansion for Biopesticides. Several nations are taking a more rigorous stance on a variety of imports, with a particular emphasis on controlling pesticide residues. As a consequence, the usage and demand for non-chemical crop protection methods are expanding.
Other reasons supporting market expansion include microbial pesticides’ low toxicity on non-target pest species, compatibility with synthetic insecticides, and lack of residual toxicity for humans and other animals. Despite their minimal toxicity and environmental effect, microbial insecticides have significant constraints in the form of expensive pricing and limited availability. Furthermore, significant businesses’ many acquisitions, licensing agreements, collaborations, and massive spending in research and development will fuel the expansion of the crop protection market in the future years.
Market Trends:
Increasing Organic Land and Adaptation of New Farming Technologies
The growing use of modern agriculture technology has resulted in safer field applications of items such as microbial insecticides. Sustainable farming acceptability and support within mainstream agriculture push farmers to reduce their use of chemical pesticides, saving money, productivity, and the environment. The use of microbial pesticides in sustainable agriculture solves various environmental and social problems while also providing producers, workers, and customers with new and commercially feasible options. This is one of the primary factors of microbial pesticide market development.
According to the Organic Trade Association (OTA), organic sales in the United States will reach USD 61.92 billion in 2020, representing a 12.4% increase over the previous year. When we compare the economic growth rate of organic sales to the whole market for food and non-food items in the United States, which expanded at less than half the pace, at 4.9%, the consumer behavior changes towards organic is evident.
Market Opportunities:
Increasing food commerce across developing market borders broadens the sector’s potential for expansion. The increased frequency of food-borne diseases, as well as inadequate sanitation and manufacturing conditions in a few nations, demand the use of food microbial pesticides. The adoption of rules in rising nations that have joined the food trade, as well as the authority to restrict the import and sale of tainted food and enforce food recalls, are likely to raise pesticide demand in these areas.
Market Restraints:
Pest and insect spread, as well as farmers’ lack of awareness of microbial pesticides, are predicted to stifle progress and restrict market expansion.
Covid-19 Impact Analysis:
The agriculture sector’s demand declined during the worldwide pandemic, COVID-19, due to different economic constraints and regulations. Many pesticide units were compelled to suspend production as a result of these severe lockdown measures, restricting the development of the microbial pesticides market in 2020.
Furthermore, as a consequence of the epidemic, fruit and vegetable production and export declined, leading to a fall in demand for microbial pesticides, resulting in a large decrease in market income for microbial pesticides. Furthermore, the covid-19 pandemic impacted microbial pesticide manufacturing, consumption, imports, and exports.
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Recent Industry Developments:
- FMC Corporation, a prominent worldwide agricultural sciences corporation, introduced a new brand identity for its Plant Health division in June 2022 to represent the company’s ongoing development and expansion of its biologicals platform.
- FMC Corporation announced a strategic relationship with Novozymes, the global leader in biological solutions, to study, co-develop, and market biological enzyme-based crop protection solutions for farmers worldwide in February 2021. The two businesses partnered on enzyme-based biocontrol technologies for the worldwide fungicide and pesticide industries under a multi-year global partnership.
Segmentation Analysis:
As per the research analysis, the global microbial pesticides market is segmented by ingredient type into Bacteria-based Pesticides, Fungi-based Pesticides, Virus-based Pesticides, and Other Ingredient Types; by product type into Microbial Fungicide, Microbial Insecticide, and Other Product Types; and by application into Grains & Cereals, Pulses & Oilseeds, Fruits & Vegetables and Other Applications.
Microbial insecticides based on bacteria dominate the market. B. thuringiensis var. israelensis is the most often utilized bacterium in bacteria-based insecticides. After bacteria, fungi-based microbial pesticides constitute the biggest market category. Trichoderma sp. is the most frequent fungus utilized in the production of microbial insecticides. The majority of the products on the market are insecticides.
Geographical Analysis:
The global microbial pesticides market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Microbial Pesticides Market:
As people become more aware of the dangers of conventional herbicides and pesticides, bioherbicides may be used as an alternative, particularly for integrated weed control. Herbicides made up of phytotoxins, pathogens, and other microorganisms are known as bioherbicides. It is used to manage weeds biologically.
Bioherbicides are generated from microorganisms such as fungi, bacteria, and protozoa or from phytotoxic plant residues, extracts, or single chemicals taken from other plant species. A variety of reasons are driving demand in the area, including rising interest in green farming techniques and the loss of many conventional goods due to registration and/or performance difficulties.
Product development has increased the demand for microbial pesticides. Better biological active ingredients and products that can compete with and complement traditional chemical pesticides are now available on the market. Increasing awareness of sustainable food production, farmer worries about excessive chemical usage, and the rising cost of conventional crop protection are driving the microbial biopesticide industry. This increasing understanding is evident in the United States’ thriving biological industry, which presents an ideal chance to apply microbial pesticides.
Competitive Landscape:
The major companies included in the global microbial pesticides market are Bayer AG, BASF SE, Yara International, Compass Minerals, Syngenta Crop Protection AG, ADAMA, Sumitomo Chemicals, Nufarm Limited, UPL, K+S Group, Israel Chemical Company, BotanoCap, Arysta LifeScience, GAT Microencapsulation, Reed Pacific.
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