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Global Fast Growing Biopesticides Market Fragmented - QYResearch Report

Author: QYResearch  |   Published Date: 2021-01-20   |   Views: 54



In 2019, the global Biopesticides market size was US$ 4084.26 million and it is expected to reach US$ 8248.75 million by the end of 2026, with a CAGR of 11.39% between 2020 and 2026.

Biopesticides are made of living things, come from living things, or they are found in nature. Biopesticides are generally less toxic than chemical pesticides, often target-specific, have little or no residual effects and have acceptability for use in organic farming.

Global Biopesticides Market- Key Players

Bayer Crop Science, Valent BioSciences, Certis USA, Syngenta, Koppert, BASF, Andermatt Biocontrol, Corteva Agriscience, FMC Corporation, Isagro, Marrone Bio Innovations, Chengdu New Sun, Som Phytopharma India, Novozymes, Coromandel, SEIPASA, Jiangsu Luye, Jiangxi Xinlong Biological, Bionema are some key suppliers in the report. The industry is very fragmented. The top 5 players owns about 20% market share. The remained market is held by numerous companies.  

Global Biopesticides Market: Driver Analysis

The four key drivers are Residues, Product Life Cycle Management, Regulatory Cost and the Timelines of New Product Development and last but not least Synergies from Combining Biological and Chemical Crop Protection: Residues to start with: Food marketers and consumers are demanding reduced pesticide residues. Nearly all biopesticides have a food tolerance or MRL exemption based on their low toxicity and safety profiles. The second main driver is the Product Life Cycle Management: Companies have invested huge sums developing and commercializing existing conventional products in their portfolios. Effective pest resistance management strategies are critical to protecting this investment to extend the life cycle of these products. Biopesticides, which have a more complex mode of action, makes them valuable resistance management tools. The third driver is the Regulatory Cost and the Timelines of New Product Development For new conventional plant protection products, CropLife America documents that to discover one successful commercial chemical active ingredient as many as 139,000 candidate chemical compounds must be synthesized and screened. The successful registration of such a product today averages close to 10 years from the time of discovery and includes many long term toxicology, environmental fate, and crop residue requirements. The complete cost of launching a new conventional chemical active is in the range of $150- $265 million US dollars, based on CropLife industry surveys. A big difference with new microbial biopesticide products! Biological industry leaders estimate that one out of every 1,500 to 2,000 microbes screened results in a successful find. Registration timelines are shorter as well, especially with US-EPA and Canada-PMRA. Expensive long term toxicology, environmental fate and crop residues data are rarely required since the microbial or plant based extracts are already commonly found in the environment or in plants that have been consumed by humans for decades or centuries. This reduced cost of investment to develop a new microbial biopesticide is quite important when Return On Investment (ROI) is considered and compared to that of synthetic pesticides. Large crop protection and financial companies commonly use Discounted Cash Flow (DCF) models to evaluate investments in new products and technologies. DCF takes into account the value of money over time to calculate the Net Present Value (NPV) of an investment. The challenge for conventional pesticides is not only the much higher registration cost, but also the long period (minimum of 10 years) of investment prior to any sales. For microbial biopesticides the upfront cost of development is much lower and the development timelines are much shorter. This provides a much more positive NPV, even if the projected sales are lower than with a synthetic pesticide. Last but not least, there are synergies from combining biological and chemical crop protection: The majority of biopesticide companies are based on one or two technologies, while distributors and growers seek complete crop protection solutions. Due to this limitation, most biopesticide companies are small and lack market access due to restricted available resources (both money and manpower). On the contrary, Global Plant Protection Companies have extensive sales and marketing organizations (market access) for immediate global market growth. They offer the opportunity to combine biopesticide technologies with existing portfolio to offer complete solutions to growers and distributors. They can provide much greater resources to support biopesticide product R&D, registration, manufacturing, and marketing. The base strategy of the main plant protection companies is that of offering a complete portfolio of products to the growers in order to become the grower’s source of all plant protection products, rather than trying to compete on a product by product basis.

Global Biopesticides Market: Segmental Analysis

Based on the product type, the Biopesticides is primarily split into Microbial Pesticides, Biochemical Pesticides, Plant-Incorporated Protectants, etc.  Microbial Pesticides is the largest segment with 73.80% share in 2019. The follower is Biochemical Pesticides, accounting for 18.78% share in the same year.

 

Read More Information: https://www.qyresearch.com/index/detail/1013777/global-biopesticides-market

 

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