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 size was valued at USD 5.9 Billion in 2022 and is poised to grow from USD 6.7 Billion in 2023 to USD 21.81 Billion by 2031, growing at a CAGR of 15.9% during the forecast period (2024-2031).   

Biopesticides are organic pest repellents made from naturally occurring substances such as plants, microbes, and biochemicals. Growing demand for organic farming and rising awareness regarding the harmful effects of chemical pesticides are projected to primarily augment the sales of biopesticides over the coming years. Imposition of bans and strict regulations regarding use of chemicals, emphasis on promoting sustainability, and evolving consumer preferences are also augmenting biopesticides market growth trajectory. The availability of subsidies and incentives for the use of biopesticides will also encourage more farmers to opt for them and drive demand outlook. However, high costs, limited availability, and lack of awareness are estimated to slow down biopesticides demand outlook in the long run. Limited shelf life and instability are also major concerns that could hamper sales of biopesticides across the study period and beyond. 

US Biopesticides Market is poised to grow at a sustainable CAGR for the next forecast year.