Biopesticides Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
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 (2019 2027). The market was valued at US$ 2.9 billion in 2018, and is expected to reach US$ 6.5 billion by 2027. Market Overview Biopesticides are derived from natural materials such as plants, bacteria, fungi, and virus. There are three major types of biopesticides: biochemical pesticides, microbial pesticides, and plant-incorporated-protectants (PIPs). Biopesticides are used in organic farming, eco-friendly pest management, controlling pant diseases, seed treatment, and soil amendments. Mass production of biopesticides can be achieved by developing carrier based formulation by the use of native strains of Trichoderma and biofertilizers. Bacillus thuringiensis can also be used to produce biopesticides. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2722 Market Dynamics Considerable pressure on farmers to reduce or eliminate the use of pesticides in crop production systems, owing to the effects of pesticide residues on human health and on the environment is a major factor boosting growth of the market. Moreover, several government organizations are focused on development of ‘safer pesticides’ such as the Environmental Protection Agency (EPA). The current EPA policy is to facilitate the testing and registration of pesticides which have ‘reduced risks’. Such initiatives may have significant Impact on market size over the forecast period. However, biopesticides have high specificity, which means that certain biopesticides may only be effective on certain pests. This in turn may require use of multiple products, which may not be commercially viable. Moreover, biopesticides are often slow in action against pest, which may not be appropriate in case of a pest outbreak on a crop. The possibility of a target pest/disease developing resistance or tolerance