According to the research report titled ‘GLOBAL Biopesticides Market 2019-2027’, available with Market Study Report, global biopesticides market size is projected to expand at a compound annual growth rate of 15.87% during the forecast period 2019-2027.
 

Expert analysts cite that inflating population followed by subsequent surge in food demand and food security are catalyzing global biopesticides market. Also, low research & development costs in development and manufacturing of biopesticides are positively impacting the business dynamics.
 

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Growing acceptance of biopesticides and advancements in integrated pest management (IPM) solution are further expected to infuse growth in this business sphere. However, low shelf life, poor profit margins, and inconsistent efficacy of the products is hindering the remuneration prospects of the industry. Further, stringent regulatory challenges and lack of awareness among farmers are expected to slow down global biopesticides industry expansion in the upcoming years.
 

The market, based on formulation, is split into dry formulation and liquid formulation. In terms of mode of application, the industry is fragmented into bioinsecticide, bioherbicide, biofungicide, and others. Moving on, the application spectrum of the industry is bifurcated into crop and non-crop. Speaking of the ingredients type, the market is divided into microbial and biorational.
 

Considering the regional outlook, Europe biopesticides industry is expected to grow at a rapid pace during the forecast period 2019-2027. United Kingdom, France, Italy, Spain, Germany, Russia, and Italy are the key contributors to the regional market growth.
 

Regulatory pressure on farmers to adopt biopesticides in line with ban on use of glyphosate, paraquat, and neonicotinoids are stimulating business development in Europe. Moreover, stringent environment regulations and surging demand for organic food products are projected to drive the industry growth through 2027.
 

Speaking of the competitive landscape, top contenders in global biopesticides industry sphere are Valent BioSciences LLC, Novozymes A/S, Monsanto Co., Stockton Group, Bayer CropScience LLC, Isagro SpA, Syngenta Group, FMC Corp., Marrone Bio Innovations, Certis U.S.A. LLC, Andermatt Biocontrol Suisse AG, International Panaacea Ltd., Koppert Biological Systems B.V., BASF SE, and BioWorks Inc.