Global Biopesticides Market worth $3.2 bn by 2017

Thursday 12 July 2012, Amsterdam

The report "Global Biopesticides Market - Trends & Forecasts (2012 - 2017) ", defines and segments the global biopesticides market with analysis and forecasting of the global revenue for biopesticides. It also identifies driving and restraining factors for the global biopesticide market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, Latin America, and Rest of the World (ROW). The key countries are covered and forecasted for each region. Further, market is segmented and revenues are forecasted on the basis of applications.

Biopesticides are widely used for controlling insects and disease causing pathogens. Bioinsecticides, biofungicides, and bionematicides are rapidly growing markets segments and are expected to boost the demand for biopesticides in near future. Increasing demand for residue free crop protection products, which have lesser or no negative impact on environment and better safety features are key drivers of the biopesticide market.

Growth in organic food market and easy registration than chemicals pesticides are another driving factors for global biopesticides market, since organic industry is dependent upon the chemical free crop protection products to safeguard crops. Factors such as toxicity of crop protection products, environment friendliness, innovative production practices, new product offerings, increased availability, and advent of new pests are increasing the market for biopesticide industry, globally.

The global market for biopesticide was valued at $1.3 bn in 2011 and is expected to reach $3.2 bn by 2017, growing at a CAGR of 15.8% from 2012 to 2017. North America dominated the global biopesticide market, accounting for around 40% of the global biopesticide demand in 2011. Europe is expected to be the fastest growing market in the near future owing to the stringent regulation for pesticides and increasing demand from organic products.