Biopesticides Market Size, Share, Growth Analysis, By Crop Type(Cereal & Grains (Corn, Wheat, Rice and Others), Oilseeds & Pulses (Soyabean), By Formulation(Liquid (Emulsifiable Concentrates, Suspension Concentrates and Soluble Liquid Concentrates), and Dry (Dry Granules, Water-Dispersible Granules and Wettable Powders)), By Application(Seed Treatment, Soil Treatment, Foliar Spray and Others), By Source(Microbial, Biochemicals, and Beneficial Insects), By Type(Bioinsecticides (Bacillus Thuringiensis, Beauveria Bassiana, Metarhizium Anisopliae, Verticillium Lecanii), By Region - Industry Forecast 2024-2031

Biopesticides Market Drivers

Rise of Organic Farming 

• Organic farming has emerged in popularity across the world and this is mostly due to rising awareness regarding ill-effects of chemical use in agriculture. Evolving consumer preferences and rising health consciousness have boosted the demand for organic food products thereby uplifting biopesticides sales as well.  

Bans on Chemical Pesticides 

• Synthetic pesticides and chemical pesticides have been shown to damage environment as well as human health. This has resulted on bans on their usage across multiple countries in recent years, which in turn, is projected to favor the demand for biopesticides in the future.  

Biopesticides Market Restraints 

High Costs of Development 

• Complexity of biopesticide development often results in high costs of the end product, which makes it inaccessible to farmers on a budget. Moreover, the availability of traditional pesticides at a much cheaper price also hampers the overall market growth potential.  

Lack of Awareness 

• Biopesticides are relatively new in the field of agriculture, which is why not many farmers are aware of their usage benefits and this lack of awareness is projected to impede biopesticide demand outlook going forward. This factor is estimated to hinder biopesticide sales in developing and under-developed countries as awareness among farmers regarding new products  is limited.