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Global biopesticides market: 16% CAGR growth forecast between 2012-2016

Press Release   •   Aug 08, 2013 13:43 BST

The Global Biopesticides market is to grow at a CAGR of 15.87 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased consumption of organic food products. The Global Biopesticides market has also been witnessing an increasing demand for sustainable agricultural practices. However, government regulations that deter biopesticide commercialization could pose a challenge to the growth of this market.

One of the main trends witnessed in the Global Biopesticides market is the increasing grower-consultant collaboration. For the effective use of biopesticide on crops, the user needs to have an understanding of the procedure for correct and safe application. A lack of such knowledge has deterred farmers from adopting biopesticides. Use of chemical pesticides, on the other hand, is perceived as reliable and convenient. As a solution to this problem, several agrochemical companies, which produce biopesticides, have introduced field training programs for farmers and are encouraging consultant-farmer interactions. In addition, governments of many countries are increasingly conducting farmer training and counseling through biopesticide specialists.

One of the main factors driving the market is the lower R&D costs and availability of new products at competitive prices. The R&D costs for biopesticides is relatively much lesser than that of chemical pesticides. This has led to a host of new biopesticide products being introduced in the market.

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