Market Overview:

Microbial Pesticides Market worth is estimated to reach USD 720.88 million by 2024 from USD XX million in 2019, witnessing a double-digit market growth throughout the forecasted period. Microbial pesticides are the microbe based biopesticides that are employed to protect plants from different pests. Biopesticides are certain types of pesticides derived from natural materials such as animals, plants, bacteria, and certain minerals. For instance, baking soda and canola oil have pesticide like applications and are considered biopesticide. Biopesticide are generally inherently less toxic than traditional pesticides and normally affect only the target pest and closely related organisms, in contrast to broad-spectrum, traditional pesticides that may have a harmful effect on organisms as different as birds, insects, and mammals.

Market drivers and restraints:

Multiple acquisitions, licensing agreements, partnerships and investments of hundreds of millions of dollars in research and development by large companies show that the sector will drive the growth of the crop protection market in the coming decade. While the prevalence of chemical or artificial pesticides in crop protection would continue, human, animal, and environmental health concerns would play major roles in driving growth for biopesticides. Many countries are adopting a stringent approach concerning a number of imports, with a special focus on regulating a number of pesticide residues. As a result, use and demand of non-chemical treatments for crop protection are escalating. In spite of their low toxicity and environment impact levels, microbial pesticides have a key restraint in the form of high prices and low availability.

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Report segmented as:

By product type:

bacteria-based pesticides
fungi based pesticides
virus-based pesticides
nematode-based pesticides
By crop type:

fruits and vegetables
maize
rice
cotton
others
Geographical analysis:

On the basis of region, the microbial pesticide market is segregated into different regions namely North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. Asia Pacific is the biggest microbial pesticide market. China, Japan, and India are the major markets driving market growth.

Important market players:

The key players operating in the global microbial pesticide market are Becker Underwood, Valent BioSciences, Certis, BioWorks, Ecogen, Koppert, Agri Life and AgraQuest among others.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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