Australia Bio-pesticides market- Growth, Trends & Forecast (2020 - 2025)

The Australian Biopesticide Market is estimated to grow at a CAGR of 7.3% during the forecast period 2016-2020. While the prevalence of chemical or synthetic pesticides in crop protection is continuing, human, animal and environmental health concerns are playing key roles in driving the growth of biopesticides. Several countries are adopting a stringent approach concerning the number of imports, with a special focus on regulating the number of pesticide residues. Emerging economies in Asia-Pacific are likely to take the lead in the adoption of biopesticides.

Key Market Trends

Easy Registration Procedure

Given that biopesticides tend to pose fewer risks than chemical pesticides, the EPA generally requires fewer data to register a biopesticide than to register a chemical pesticide. As a result, new biopesticides are often registered in less than a year, compared to an average of more than three years for chemical pesticides. To promote the use of biopesticides, developing countries have simplified the requirement for the registration of biopesticides. These countries are also providing grants for R&D and production unit setups. All these activities are creating an opportunity for the development of the biopesticide market. The registration of microbial pesticides is similar in many of the countries. The processes have evolved from the existing requirements of chemical pesticides but have been modified to take account of the biological nature of the active ingredients involved.

Australia Dominates the Market

As next-generation pesticides, biopesticides are gaining popularity in Australia. Due to the presence of higher pesticide residues in food crops and increasing pest resistance, developed countries are posing strict regulations on the import of such crops. These regulations are affecting the use of synthetic crop chemical applications on wheat (major exported grain) and other crops in Australia. Also, Australia has the worst weed resistance problem in the world, and many herbicides are of no use in the country and in this scenario, biopesticides are the only lucrative option or substitute. On the other hand, the increasing popularity of broad-spectrum pesticides in Australia due to their cheap prices and abundant market availability is hindering the use and large scale adoption of biopesticides. Organophosphates are still widely used in agriculture in Australia even though many have been banned in the EU, and banned or restricted in the USA.

Competitive Landscape

In the Australia biopesticide market, companies are not only competing based on product quality and promotion but are also focused on strategic moves, to hold larger market shares. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the global biopesticide market. Companies are investing heavily in developing new products and are collaborating and acquiring other companies, which is expected to increase their market shares and strengthen R&D activities. Along with innovations and expansions, investing n R&D and developing bio-based product portfolios are likely to be the crucial strategies over the forecast period. Involvement in agreements, with other biopesticides and technology providing companies, is one of the most prominent strategies followed by market leaders in the global biopesticide market.

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