Dec 05, 2021
AgroPages: Ingevity Biopesticides – An eco-friendly approach to plant protection and crop yield
INGEVITY IN THE NEWS
In recent years, increasingly stringent government regulations and growing consumer pressure to minimize the use of chemical pesticides have caused a shift in the agriculture industry toward more sustainable practices. Biological products, known as biopesticides, are derived from natural materials. They typically consist of two distinct categories: microbials and biochemicals. Microbial products originate from bacteria, fungi or viruses, while biochemical products are either of botanical or biochemical origin.
The current global biopesticide market is estimated to be worth $5 billion with an annual growth trajectory of 17%. North America and Europe represent over 65% of the biopesticides market, while Latin America has the fastest growth rate. Bioinsecticides make up almost 50% of that market and biofungicides more than 40%, while bionematicides and bioherbicides constitute a small portion. Interestingly, bionematicides for seed treatment application are the fastest growing portion of the global biopesticides market. Microbials represent the majority of biopesticides with nearly 60% of the total market. The promising growth trajectory of the integrated pest management (IPM) approach in agriculture is expected to influence the future growth of biopesticides. Read more…