Smithers Viscient estimates rapid growth in Biopesticides market reaching $2 billion by 2022

The biological pesticide or ‘biopesticide’ industry has shifted over the last five years from being a few specialist companies supplying niche markets to being a more diverse, innovative industry comprising new entrants, existing specialist companies and now the agrochemical majors. This had led to the rapid growth of the biopesticides market: Smithers Viscient’s latest market report ‘The Future of Biopesticides to 2022’ estimates the market growing from $814.7 million in 2016 to $2 billion by 2022, at a CAGR of 15.3%.

There has been a flurry of MA&D activity in recent years, licensing deals and portfolio acquisitions, as well as development partnerships and publications of patents. Acquisitions by the agrochemicals in the biopesticides sector between 2012 and 2017 amounted to $2.4 billion. Governments around the world are also factoring biopesticides into their management of crop protection regulation, with some regions introducing specific legislation to allow faster, less costly registration of less environmentally harmful biopesticides, compared to chemical pesticides.

Support for regulatory adaptation is being led by biopesticide industry bodies such as the IBMA (Europe), the BPIA (North America) and ABCBio (Latin America). China has also publicised its efforts to modify its registration procedures through collaboration with the US Environmental Protection Agency. Although some scepticism still exists among farmers over the efficacy of biopesticides, the switch over from chemicals is becoming more common amidst availability of a wider range of products, government support and guidance in use from the companies selling the products. The rise of organic farming and cultural approaches to agriculture, such as integrated pest management, mean that growers are increasingly open to biological products. In fact, many are being driven toward biological solutions faced with market demand for organic produce and the waning efficacy of chemicals amidst resistance of target organisms to their modes of action.

The Future of Biopesticides to 2022 is a synthesis of information on the demand potential of biopesticides, with market sizes and forecasts to 2022, key market trends and a detailed discussion of growth drivers. The report also appraises the industry for its supply chain dynamics, sources of profit and competitive landscape.


Notes for Editors            

The Future of Biopesticides to 2022 is available for £4,500.

For press enquiries or a more detailed article, please contact Julie Bostock:
Tel: +44 (0) 1372 802 035