Northbrook, IL 60062 -- (SBWIRE) -- 06/28/2023 -- The global biopesticides market is expected to reach USD 13.9 billion by 2028, growing at a compound annual growth rate (CAGR) of 15.9% during the forecast period. The market has experienced significant growth due to the expanding organic farming sector, driven by consumer concerns about food quality and safety. Biopesticides are preferred in organic farming as they are compliant with the prohibition of synthetic chemical pesticides. The increasing demand for organic produce has directly contributed to the growth of the biopesticides market.

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The market has attracted substantial investments from both public and private sectors, enabling the development and commercialization of innovative biopesticide products. Investments in research and infrastructure have further stimulated market growth, making biopesticides more accessible to farmers globally.

Microbial biopesticides, which offer targeted pest control, are driving the market due to their effectiveness in integrated pest management (IPM) strategies. These environmentally friendly alternatives to chemical pesticides align with the goals of sustainable and long-term pest management sought by farmers. Microbial pesticides have demonstrated efficacy against a wide range of pests while minimizing harm to beneficial insects. This precision in pest control helps preserve biodiversity and ecological balance in agricultural ecosystems.

Liquid formulations of biopesticides are in high demand due to their ease of application. Liquid biopesticides can be easily mixed with water and applied using standard spraying equipment, ensuring efficient and uniform coverage of crops. Their longer shelf life compared to powdered or granular forms enhances storage and distribution, reducing the risk of product deterioration. Liquid biopesticides also provide systemic protection by adhering to plant surfaces and penetrating plant tissues, making them effective against pests that target below-ground parts or systemic diseases.

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North America is experiencing growth in the biopesticides market due to stringent regulations and limitations on the use of conventional chemical pesticides. The diverse farming landscape in North America, including commercial and organic farms, provides favorable conditions for the adoption of biopesticides. Regulatory agencies such as the United States Environmental Protection Agency (EPA) have implemented strict regulations on conventional chemical pesticides, prompting farmers to explore alternative pest control solutions like biopesticides. The focus on environmental sustainability and reducing chemical inputs further drives the adoption of biopesticides in North America.

Key players in the biopesticides market include BASF SE, Bayer AG, Syngenta AG, UPL, FMC Corporation, Pro Farm Group Inc., Novozymes, Isagro S.p.A, Nufarm, and Certis USA L.L.C.

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