Virus Based Biopesticides Market Size

Virus Based Biopesticides Market size was over USD 4.62 Billion in 2023 and is anticipated to exceed USD 30.08 Billion by the end of 2036, witnessing over 15.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of virus based biopesticides is evaluated at USD 5.26 Billion. The growth of the market can be attributed to the increasing use of biopesticides in sustainable agriculture, coupled with the rising awareness about the eco-friendliness of virus based biopesticides throughout the world. For instance, in 2021, the usage of biopesticides increased by around 14% as an alternative agrochemical throughout the world. Further, the worldwide surging demand for non-toxic pesticides is also estimated to fuel the growth of the global virus based biopesticides market in the years to come.

In addition to these, factors that are believed to fuel the market growth of virus based biopesticides include an upsurge in awareness regarding the toxicity and hazardous effects of chemical pesticides which have been imposing threats on human health and the environment. As per a study, from the global farming population of around 870 million, approximately 47% of farmers are being poisoned by pesticides each year. Additionally, the growing ratio of organic farming is also predicted to present the potential for market expansion over the projected time frame throughout the world.