The global Biopesticides Market is forecast to reach USD 10.11 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the biopesticides Market to maintain a stable growth rate over the forecast period. The manufacturers of organic insecticides are launching new products and collaborating with prominent brands in order to strengthen the market.
Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink down their expenses, which can lead to a decrease in the demand of the food industry, adversely affecting the biopesticides market. Though food demand is inelastic, but there can be a change in the dietary patterns of the consumers. While the above reasons can lead to a negative impact, but the inelasticity of demand for food will significantly result in the growth of the industry. Due to the COVID-19, the manufacturers of the biopesticides are adopting safety regulations and strategies, which may result in the industry’s growth over the forecast period.
Key participants include Valent Biosciences LLC, Koppert Biological Systems, Bayer CropScience AG, Syngenta AG, Marrone Bio Innovations, Andermatt BioControl AG, Stockton BIO-AG Technologies, International Panaacea LTD, Certis USA L.L.C and BASF SE, among others.
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The COVID-19 impact:
With the outbreak of the coronavirus, WHO encourages people to take more aggressive steps to prevent the widespread of the virus and to abide by the rules and regulations created by the respective governments of each country. The farmers and the manufacturers of the biopesticides industry have been widely affected by the disruptions in the supply chain and influence ingredients and raw materials. To prevent the transmission of the COVID-19 virus, Lockdowns have been announced worldwide, which is hampering the transport of raw materials, thus obstructing the production. The COVID-19 pandemic also created a raw material price volatility for the manufacturers of the Biopesticides products. The complete lockdown all over the world is causing a disturbance in the trade operations of the products. The pesticide value chain is directly affected by the lockdowns. The Manufacturers of the biopesticides are depending on the raw materials which were kept for emergency purpose. The raw materials will be soon over pertaining to the current situation and the probable continuation of the lockdown.
For the purpose of this report, Reports and Data have segmented the global Biopesticides Market on the basis of product type, crop type, mode of application, source, formulation and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
Mode of Application Outlook (Revenue, USD Billion; 2017-2027)
Source Outlook (Revenue, USD Billion; 2017-2027)
Formulation Channel Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
Further key findings from the report suggest
Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Indicative Metrics Chapter 4. Biopesticides Market Segmentation & Impact Analysis 4.1. Biopesticides Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Growing demand of organic food 4.2.2.2. Strict government rules and regulations against chemical pesticides 4.2.3. Market restraints analysis 4.2.3.1. Technological constraints are associate with the use of biological products 4.2.3.2. Cheaper cost of the chemical pesticides 4.3. Technological Insights 4.4. Regulatory Framework
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