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The global biopesticides market is forecast to grow at a CAGR of 6.2% between 2012 and 2017. This growth will see the market reach an estimated value of $67.5 billion by 2017, after reaching $49.9 billion in 2012. The synthetic pesticides sector is expected to generate the highest return for companies working in the biopesticides industry in the coming years, with an expected value of $63.7 billion by 2017.
The definition of a biopesticides, is a pesticide derived from natural materials such as plants, animals and some minerals. Also in this category are microorganisms, such as bacteria, virus or fungus, which can be used to control and eliminate pests via agricultural practices.
A number of leading crop protection companies are looking into developing and manufacturing biopesticides in order to capitalise of the rising demand from the chemicals. Leading players in the global biopesticides market include Bayer, AgraQuest Inc, BioWorks, Plant Health Care, Becker Underwood, Novozymes and Valent BioSciences Corporation.
The increasing production and development of biopesticides can be seen as a trend towards more eco-friendly chemicals. Pollution and health hazards from conventional pesticides are driving the use of biopesticides, as is the demand for organically grown food.
With increased popularity comes increased research, and in the last few years the biopesticides sector has been researched extensively in order to increase the effectiveness of the chemicals. One of the main objectives for development is to increase the commercial feasibility of the production and usage of biopesticides.
For more information on the global biopesticides market, see the latest research: Global Biopesticides Market
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