Biopesticides Market foreseen to have a CAGR above 14.7% by 2026

Market overview:
The Biopesticides Market was valued at 4.3 billion USD in 2021 that is estimated to reach a valuation of 8.5 billion USD by 2026 at a CAGR of 14.7% during the conjecture period of 2021 to 2026.

Recent Developments
In the month of March 2020, Marronne bio innovations had an agreement with Anasac company from Chile to develop and also to distribute Grandevo and Venerate bioinsecticide in Chile.
In the month of February 2020, Stockton Bio AG had an agreement with ADAMA agricultural solutions Ltd from Israel for the distribution of biofungicides regev and hybrid in the Ecuadorian market.

Market Drivers and Restrains:
The market for Biopesticides is expected to grow at a significant rate as there is increasing awareness regarding pesticide residue levels in food, increasing demand for organic food, adoption of IPM practices across the world. Also, expansions and key collaborations and strategies adopted by market players helps the market to grow further.

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Report is segmented as:
The global Biopesticides market is segmented on the basis of type, source, mode of application, crop type and formulation.

By type, the market of Biopesticides is segmented into bionematicides, bioinsecticide, biofungicides, bioherbicides and other types.

By source, the market of Biopesticides is segmented into microbials, biochemical, beneficial insects. By mode of application, the Biopesticides market is segmented into foliar spray, soil treatment, seed treatment and other modes of operation.

By crop type, the Biopesticides market is divided into fruits & vegetables, cereals & grains, oilseeds & pulses and others.

By formulation, the market of Biopesticides is segmented into two types dry and liquid.

Geographical Segmentation:
North America is expected to have a significant growth of market owing to the increasing demand for bio-based products in the nations like the United States. North America region is also supposed to hold the dominance of the market during the foreseen period. Asia Pacific region holds the second largest share of the market owing to the increase in acquisitions as well as investments for the new technological advancements in the locale.

Impact of COVID-19 on Biopesticides Market
Due to coronavirus pandemic, all the industries including the Biopesticides are facing a lot of difficulties since the manufacturing and production units have been halted due to the lockdown situations. In addition to this, the Biopesticides demand has been reduced due to the unavailability of workforce to look after the operations that resulted the companies to suffer financial crisis due to the COVID-19 outbreak. As per the analysis, the market is supposed to record a hike in the revenue post coronavirus.

Key market players:
Major players of Biopesticides market include Bayer AG (Germany), Novozymes A/S (Denmark), BASF SE (Germany), Syngenta AG (Switzerland), Marrone Bio Innovations (US), Certis USA L.L.C (US), Andermatt Biocontrol AG (Switzerland), and Nufarm (Australia)

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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