Global Microbial Pesticide market is anticipated to reach USD 726.72 million by 2024. Factors influencing the growth of Microbial Pesticide market include low toxicity of pesticides, harmony with synthetic chemicals and less impact on environment among others.
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Agriculture holds the largest share in microbial pesticide market
Based on the end-user application, Microbial pesticide market is segmented as Agriculture, Manufacturing, Healthcare, energy, and environment. Agriculture is further sub-segmented into Pesticides and Fertilizers. Agriculture holds the largest share in the microbial pesticide market owing to an increased demand for fertilizers and other agricultural products. Agriculture is followed by Healthcare and manufacturing because of the increased demand for baking and brewing of food products.
Crystalliferous spore formers hold the largest share in microbial pesticide market
On the basis of ingredient type, Microbial pesticide market is segmented as crystalliferous spore formers, obligate pathogens, potential pathogens and facultative pathogens. Among these, Crystalliferous spore formers also known as Bacillus thuringiensis holds the largest share because of its advantages like safety and effectiveness in controlling insects and it is followed by obligate pathogens known as Bacillus Popilliae.
North America dominates the Microbial Pesticide market in 2017
As a result of evolving technology and increased demand for Microbial Pesticide, North America leads the market owing to the increased usage of synthetic pesticides. North America is followed by Europe. Asia-Pacific region is expected to hold the largest market share by 2024, because of its increased funds in developing new pesticides and demand for microbial pesticides in agriculture, healthcare industries.
The crucial players in the Global Microbial Pesticide market include Becker Underwood, Valent BioSciences, Bio Works, Ecogen and Koppert Biological System among others.
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