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Global Market for Biopesticides to Be Worth $3.3 Billion In 2014

The global market for biopesticides was worth an estimated $1.6 billion in 2009, but is expected to increase to $3.3 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 15.6%.

Projected Global Pesticide Market Through 2014Projected Global Pesticide Market Through 2014

Wellesley, MA, April 9, 2010 /India PRwire/ -- According to a new technical market research report, Biopesticides: The Global Market (CHM029C) from BCC Research (www.bccresearch.com), the global market for biopesticides was worth an estimated $1.6 billion in 2009, but is expected to increase to $3.3 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 15.6%.

The much-larger segment of the global pesticides market, synthetic pesticides, is expected to reach nearly $48 billion in 2014, after increasing at a CAGR of 3% from the estimated 2009 value of $41.2 billion.

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 bacterium, 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, fungi, bacteria, and viruses. Each agent has a specific mode of operation used to control pests. They are being recommended increasingly and used as components of integrated pest management (IPM) programs in the production of high-value specialty crops such as fruits, nuts, vegetables, vines, ornamentals, and turf crops.

Biopesticides represent a strong growth area in the global pesticide market. Even though in 2008 biopesticides represented an estimated 3% of the total market, they continue to produce double-digit growth.

More research and development in biopesticides, increases in the use of genetically modified (GM) seed, application of IPM concepts, and market demand for organically grown crops will be the key factors in the development of the use of biopesticides. The projected market percentage should reach nearly 6% by 2014.

This report provides the reader with a detailed analysis of the global biopesticides industry. It also discusses technological developments, future trends, and emerging opportunities. This information will be useful for those involved in strategic planning, marketing, sales, and technological development.

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