Microbial Pesticides Market

Microbial Pesticides Market: Current Size, Key Players, Trends, Drivers, Opportunities, and Threats-

The global microbial pesticides market is a growing industry that is expected to continue expanding over the next few years.

The market is projected to grow at a CAGR of +8% from 2019 to 2025.

The increasing demand for organic farming practices, rising awareness about the benefits of microbial pesticides, and favorable regulatory policies are some of the key factors driving the growth of the market.

Current Market Size and Market Share of the Industry-

The global microbial pesticides market is expected to reach USD 2.5 billion by 2025.

North America accounted for the largest market share in 2019, followed by Europe and Asia-Pacific. The increasing adoption of organic farming practices and the growing demand for high-quality food products are the key drivers of the market in these regions.

Key Players in the Industry-

The key players operating in the microbial pesticides market include -

• Valent BioSciences
• Certis USA LLC
• Bio Works Inc.
• Agri Life
• Marrone Bio Innovations
• Novozymes Biologicals
• Bayer CropScience
• BASF SE
• IsAgro Spa
• De Sangosse
• FMC Corporation

Segmentations:

By Ingredient Type

• Bacteria-based Pesticides
• Fungi-based Pesticides
• Virus-based Pesticides
• Other Ingredient Types

By Product Type

• Microbial Fungicide
• Microbial Insecticide
• Other Product Types

By Application

• Grains & Cereals
• Pulses & Oilseeds
• Fruits & Vegetables
• Other Applications

Major Trends and Drivers Affecting the Industry-

The increasing demand for organic farming practices and the rising awareness about the benefits of microbial pesticides are some of the major trends driving the growth of the market. Microbial pesticides are eco-friendly, non-toxic, and have low residual effects on the environment, making them a preferred choice over chemical pesticides. In addition, favorable regulatory policies and the growing demand for high-quality food products are also driving the growth of the market.

Opportunities and Threats in the Industry-

The increasing demand for organic food products and the growing awareness about the benefits of microbial pesticides present a significant opportunity for the market players. However, the high cost of production and the lack of awareness about the use of microbial pesticides among farmers in developing countries are some of the major challenges faced by the industry. In addition, the emergence of new pest and disease strains and the increasing competition from chemical pesticides are also posing a threat to the growth of the market.

Regulatory and Legal Issues Affecting the Industry-

The use of microbial pesticides is regulated by various government agencies, including the Environmental Protection Agency (EPA) in the United States and the European Food Safety Authority (EFSA) in Europe. These agencies require extensive testing and evaluation of microbial pesticides to ensure their safety and efficacy before they can be approved for use. In addition, there are also legal issues related to the patenting of microbial pesticides, which can affect the competitiveness of the market players.

Target Demographics of the Industry-

The target demographics of the microbial pesticides market include farmers, horticulturists, and other professionals in the agriculture industry. The preferences and behaviors of these demographics are influenced by factors such as the availability and cost of microbial pesticides, the efficacy of the products, and the ease of use.

Pricing Trends in the Industry-

The pricing of microbial pesticides varies across different segments, depending on factors such as the type of pest or disease being targeted, the mode of application, and the region. Generally, microbial pesticides are more expensive than chemical pesticides due to the high cost of production and the extensive testing and evaluation required for regulatory approval. However, the increasing demand for organic food products and the growing awareness about the benefits of microbial pesticides are likely to drive the prices down in the future.

In conclusion, the microbial pesticides market is a growing industry with significant opportunities for growth in the future.