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LONDON, Feb. 28, 2017 /PRNewswire/ -- l biopesticides market projected to grow at a CAGR of 17.4%" The global biopesticides market is projected to reach a value of USD 8.82 billion by 2022, growing at a CAGR of 17.4% from 2016. The market is driven by factors such as growth in the crop production, ease of application, increase in need for organic food, and rise in preference for sustainable pest control pesticides.
The report "Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bioherbicides, and Bionematicides), Origin (Beneficial Insects, Microbials, Plant-incorporated Protectants, and Biochemicals), Mode of Application, Formulation, & Crop Type - Global Forecast to 2022", The global market is estimated to be valued at USD 3.36 Billion in 2016 and projected to reach USD 8.82 Billion by 2022, at a CAGR of 17.
"Biofertilizers market projected to grow at a CAGR of 14.08% during the forecast period" The biofertilizers market is projected to grow at a CAGR of 14.08% from 2016, to reach USD 2,305.5 million by 2022. The market is driven by factors such as increase in demand for fertilizers due to the rise in global food production and development in biofertilizer manufacturing technologies. The high growth potential in emerging markets and untapped regions provide new growth opportunities for the players in the biofertilizers market.
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