Biopesticides and biofertilizers are set to transform farming methods by presenting numerous benefits over traditional chemical products. These eco-friendly options consume less resources and are likely to lessen the pollution and soil damage linked with conventional farming. Studies indicate that utilizing biopesticides and biofertilizers, created through eco-conscious processes, can greatly diminish the environmental footprint, including a potential decrease in greenhouse gas emissions.
As per the report published by BIS Research, the biopesticides and biofertilizers market was valued at $6,906.7 million in 2023, and it is expected to grow at a CAGR of 12.52% and reach $22,463.3 million by 2033.
Moreover, shifting towards bio-based practices may cut down the use of antibiotics, thereby reducing the prevalence of foodborne diseases and fostering healthier natural habitats. With the surge in demand for sustainable agricultural solutions, biopesticides and biofertilizers are anticipated to become key contributors to eco-friendly farming approaches.
The market for biopesticides and biofertilizers is making a significant impact across various industries, presenting a greener alternative to traditional chemical treatments and supporting the health of our ecosystems. These bio-based solutions are pivotal in minimizing pollution of soil and water, reducing energy use, and conserving biodiversity, thereby promoting a sustainable agricultural environment. They also offer lower toxicity, which translates into safer conditions for agricultural workers and healthier produce for consumers.
This sector is propelling advancements in biotechnology, encouraging the pursuit of more efficient products and application techniques. The implementation of strict regulatory measures ensures safety and adherence to the standards of these products. The emergence of biopesticides and biofertilizers is a step towards an eco-friendly approach in agriculture, setting the foundation for a durable and sustainable food supply chain.
• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others
• Biofertilizers
o Nitrogen Fixing
o Phosphate Stabilizers
o Others
• Biopesticides
o Bioinsecticides
o Biofungicides
o Bioherbicides
o Others
• Microorganism
o Bacteria
o Fungi
o Others
• Plant-Incorporated Protectants
• Biochemical
• Liquid
• Solid
• North America: North America, U.S., Canada, and Mexico
• Europe: Germany, U.K., France, Italy, Spain, and Rest-of-Europe
• Asia-Pacific: China, Japan, Australia and New Zealand, India, Indonesia, and Rest-of-Asia-Pacific
• Rest-of-the-World: South America and Middle East and Africa
- In September 2023, Biobest Group N.V., together with partners Aqua Capital, GIC, and the management of Biotrop, completed a definitive agreement for the acquisition of Biotrop Participações s.a. This pivotal move is expected to have several consequences for the entities involved, possibly affecting their standings and operations within the biopesticides and biofertilizers sector.
- In August 2023, the U.K.-based Bionema Group Ltd., a prominent entity in biocontrol technologies, biostimulants, and biofertilizers, launched a new series of biofertilizer products aimed at a wide range of applications nationwide, including in agriculture, horticulture, forestry, sports turf, and other areas. This new collection features four biofertilizers enriched with live microbes, crucial for boosting plant nutrition through the mobilization or improved availability of soil and substrate nutrients.
- In May 2023, Renaissance BioScience Corp., a key player in bioengineering for the agriculture and food sectors globally, received approval from the Canadian government's Pest Management Research Agency (PMRA) for a field study. This approval concerns the company's innovative RNA interference (RNAi) biopesticide delivery system, noted for its eco-friendly and sustainable properties.
- In November 2022, Taiwan achieved a breakthrough by developing a non-toxic biopesticide, setting the stage for becoming the first to start mass production. This development marks a significant advancement in Taiwan's agricultural innovation and pest control capabilities within the biopesticides and biofertilizers industry.
Some of the prominent names in the biopesticides and biofertilizers market are:
• Novozymes
• Symborg
• Kiwa Bio-Tech Products Group Corporation
• Vegalab SA
• UPL
• Lallemand Inc.
• T.Stanes and Company Limited
• Chr. Hansen Holding A/S
• AgriLife (India) Private Limited
• Syngenta
• Certis USA L.L.C.
• Andermatt Group AG
• Gujarat State Fertilizers & Chemicals Limited (GSFC)
• Biolchim SPA
• Biobest Group
According to Debraj Chakraborty, Principal Analyst, BIS Research, “The biopesticides and biofertilizers market is likely to grow multi-fold in the coming years, owing to the rapidly growing demand for sustainable agriculture, increasing awareness of the environmental impact of chemical inputs, and increasing demand for organic produce. This increased interest aligns with increasing environmental awareness, shifting consumer preferences, and advancements in bio-agriculture, creating a favorable landscape for the widespread acceptance and expansion of the biopesticides and biofertilizers market.
Moreover, substantial investments in the biopesticides and biofertilizers market further reinforce its growth potential. As investors recognize the economic and environmental benefits of biopesticides and biofertilizers, increased funding is facilitating research, development, and scaling of production processes.”
