Virus Based Biopesticides Market - Regional Analysis
North American Market Insights
The market share of virus based biopesticides in North America, amongst the market in all the other regions, is projected to be the largest with a share of about 44% by the end of 2035. The growth of the market can be attributed majorly to the increasing shift in the eating habits of consumers and the growing emphasis on the consumption of organic foods is also projected to boost the growth of the market in this region. For instance, sales of organic food in the US were estimated to be at approximately USD 58 billion in 2021. Whereas, the sales were over USD 44 billion in 2017. Further, the surging adoption of sustainable farming, coupled with the amplified awareness among people about the hazardous effects of chemical pesticides on human health, and the environment is also estimated to propel the market growth in the region throughout the forecast period. In addition to this, the strong presence of market players, along with the growing focus on high utilization of biopesticides for enhanced yield, and the surge in stringent regulations imposed by the government to regulate the use of chemical-based pesticides and fertilizers is also projected to drive the market growth further throughout the forecast period in the region.
Europe Market Insights
The European virus based biopesticides market is estimated to be the second largest, registering a share of about 23% by the end of 2035. The growth of the market can be attributed majorly to the increasing number of research and development activities associated with residue-free crop produce and growing levels of health awareness in the region. Further, the escalating ratio of organic food consumers, followed by the strict regulatory rules regarding the use of synthetic pesticides is also a significant factor that is estimated to drive the market growth in the region during the projected time frame. In addition to this, the surging cost of chemical fertilizers, and escalating initiatives by the government to promote sustainable farming are also projected to accelerate the virus based biopesticides market growth further in the European region throughout the forecast period.
APAC Market Insights
Asia Pacific industry is poised to dominate majority revenue share of 49% by 2035, The growth of the market can be attributed majorly to the increasing demand for high crop productivity, followed by the rising adoption of precision farming across the major countries of the region including China, Australia, India, and so on. Additionally, the increasing demand for food backed by the surge in population is also anticipated to proliferate the market expansion in the region. In addition to this, surging investment in R&D activities, coupled with the increase in the development of novel products are also estimated to boost the market growth in the region.
