November 08, 2012
Wellesley, Mass. – According to a new technical market research report, GLOBAL MARKETS FOR BIOPESTICIDES (CHM029D), from BCC Research (www.bccresearch.com), the global pesticide market was valued at $37.5 billion in 2011 and should reach $46.1 billion in 2012. Total market value is expected to reach $65.3 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 7.2%.
The market for pesticides can be broken down into two segments: synthetic pesticides and biopesticides.
As a segment, synthetic pesticides should total $44 billion in 2012 and $61.5 billion in 2017, a CAGR of 7%.
Biopesticides are expected to total $2.1 billion in 2012, and surpass $3.7 billion in 2017, a CAGR of 12%.
The Environmental Protection Agency (EPA) defines a biopesticide as a pesticide derived from natural materials such as animals, plants, bacteria, and certain minerals. Microorganisms such as a bacteria, virus, fungus, or microscopic nematode worms can be used in agricultural practices to control or eliminate pests that can inflict damage to a plant.
Agents used as biopesticides include parasites, predators (e.g., lady beetles, lacewings), fungi, bacteria, and viruses. Each agent has a specific mode of action used to control pests. They are increasingly being recommended and used as components of integrated pest management (IPM) programs in the production of high-value specialty crops such as fruit, nut, vegetable, vine, ornamental, and turf crops.
According to the IR-4 project at Rutgers University (U.S.), there are 230 actively promoted biopesticides in the United States. This compares with nearly 80 in the European market.
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Global Markets for Biopesticides( CHM029D )
Publish Date: Nov 2012
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