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“MarketsandMarkets™”

The global precision irrigation market is projected to expand from USD 4.18 billion in 2024 to reach USD 6.29 billion by 2029, at a CAGR of 8.5% during the forecast period. The United Nations World Water Development Report 2023 indicated that climate change will exacerbate water scarcity in regions already affected, such as the Middle East and the Sahara, while impacting currently water-abundant areas like Central Africa, East Asia, and South America. As regions globally seek efficient solutions to address escalating water scarcity and ensure food security, this will likely drive substantial growth in the precision irrigation market.

Precision Irrigation Market Drivers: Government initiatives to promote water conservation

Government initiatives aimed at promoting water conservation have significantly driven the growth of the precision irrigation market. Water scarcity and climate variability are among the pressing issues that governments around the world are tackling with the implementation of policies that promote efficient use of water. These initiatives typically provide financial incentives for farmers to adopt advanced irrigation technologies, along with technical support and educational programs that showcase the advantages of precision irrigation. The EU has made efforts toward efficient water management and reduced energy costs. This trend of governmental support extends beyond Spain. For instance, in November 2023, the Asian Development Bank (ADB) approved a USD 48 million loan to modernize agricultural irrigation systems in Georgia. The program emphasizes innovative agriculture production and irrigation technologies, benefiting at least 1,000 farmers with water-efficient technologies such as drip and sprinkler irrigation systems.

These government-supported programs facilitate the adoption of precision irrigation technologies and promote sustainable agricultural practices. By emphasizing efficient water management, they contribute to raising agricultural yields while protecting priceless water resources, proving the value of precision irrigation in modern farming practices.

Precision Irrigation Market Opportunities: Increasing adoption of precision agriculture and sustainable practices

The increasing adoption of precision agriculture and sustainable practices has significantly boosted the precision irrigation market, creating substantial opportunities for growth. With precision irrigation, crops receive precisely the right amount of water at the right stage of growth due to the use of modern technologies like sensors, drones, and satellite imagery. This strategy improves crop yields while conserving water resources, which is consistent with sustainable agricultural methods. In recent years, greenhouse vegetable production has been increasing in various parts of the world. Increasing acreage under protected farming systems is expected to drive the precision irrigation systems market. These systems leverage data analytics to monitor soil moisture levels, weather conditions, and crop requirements, enabling real-time adjustments to irrigation schedules. The potential of precision irrigation is enhanced by integrating Internet of Things (IoT) technology, which provides farmers with valuable insights and improves overall water management.

Additionally, precision irrigation technologies are gaining popularity due to government initiatives that promote sustainable farming practices and the increasing demand for organic produce. Precision farming is increasingly adopted due to several key reasons. Primarily, rising global concerns over water scarcity and environmental sustainability drive the need for efficient water management practices in agriculture. Precision irrigation aligns perfectly with these goals by delivering water directly to the root zone of plants, minimizing evaporation and runoff compared to traditional methods like flood irrigation.

Based on component, the sensors segment is estimated to grow at the highest CAGR during the studied period.

The sensors segment of the precision irrigation market is projected to experience significant growth due to the rising demand for efficient water management and improved agricultural productivity. Sensors enhance irrigation by collecting data on soil conditions, crop water needs, weather conditions, moisture levels, pH levels, humidity, and temperature. This data helps estimate the precise amount of irrigation water required, minimizing the waste of water, energy, nutrients, and fertilizers. Additionally, sensors help prevent waterlogging and land infertility. By providing accurate information, sensors improve the productivity and profitability of land and crops, aiding growers in determining the optimal irrigation schedule, water requirements, and fertilizers.

Since sensors provide a more thorough approach to data-driven irrigation than other components like controllers and water flow meters, they are projected to grow at a higher CAGR. While controllers automate irrigation schedules and water flow meters measure usage, sensors provide the vital data needed to inform those systems. This synergy enhances overall system effectiveness, making sensors indispensable in the advancement of precision irrigation technologies.

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The Asia Pacific region is anticipated to experience rapid growth between 2024 and 2029.

The Asia Pacific region is expected to witness the fastest growth rate concerning the precision irrigation market due to several key factors, such as rapid advancements in agriculture, increasing water scarcity, and strong government initiatives aimed at improving irrigation efficiency. In August 2021, the Consulate General of Israel to South India, in collaboration with the United Planters’ Association of Southern India (UPASI), Jain Irrigation Systems, and NAAOVA Irrigation, launched the Smart IoT Irrigation Project in Tea Plantation in Ooty, Tamil Nadu. Implemented on a five-acre plot within the United Nilgiri Tea Estates Company Pvt Ltd., the project integrates drip technology, automation, and fertigation. It aims to empower growers to achieve higher yields of superior quality crops while optimizing resource utilization, a solution engineered and executed by Jain Irrigation.

The government in collaboration with market players encourages modern irrigation methods like drip and sprinkler systems, which are essential for optimizing water usage and increasing crop yields. The Western Australian Government is funding commercial horticultural businesses to enhance water use efficiency, targeting those affected by a 10% groundwater reduction by 2028 under the Gnangara groundwater allocation plan. This initiative will drive the adoption of precision irrigation practices, promote efficient water management, and boost the precision irrigation market in the region.

Top Precision Irrigation Companies

The report profiles key players such as Valmont Industries, Inc. (US), NETAFIM (Israel), Hunter Industries Inc. (US), The Toro Company (US), Rain Bird Corporation (US), Lindsay Corporation (US), Rivulis (Israel), HydroPoint (US), REINKE MANUFACTURING CO., INC. (US), AZUD (Spain), T-L Irrigation (US), and Mahindra Irrigation (India).

Recent Developments in the Precision Irrigation Industry

In November 2024, Netafim Italia, a subsidiary of Orbia’s Precision Agriculture business, has acquired Tecnir S.r.l., a Faenza-based leader in irrigation system design and installation, to strengthen its position in precision irrigation for Italian agribusiness. The acquisition enhances Netafim Italia’s offerings with Tecnir’s expertise in innovative and sustainable irrigation solutions, aligning with its strategy to support efficient water use and address the needs of Italian farmers and Green Economy professionals.

In September 2024, Rivulis (Israel) announced the opening of its largest micro-irrigation manufacturing facility in North America. This 160,000-square-foot facility in Tijuana, Mexico, will manufacture T-Tape goods. With its advanced technology, the new facility has produced about 200 jobs locally, is built for future growth, and maximizes recycled materials and product quality.

In August 2024, Rain Bird Corporation (US) announced the acquisition of Adritec Group International’s Jordanian and Mexican assets. This acquisition is expected to enhance Rain Bird’s agricultural irrigation capabilities in the Middle East, Africa, and Latin America. It enables the business to take advantage of Adritec’s experience and broaden its product line, particularly in drip irrigation.

In April 2024, Mahindra Irrigation (India) announced that it had received contracts to supply micro-irrigation systems for about 2,700 hectares of land. The contract is worth USD 1.59 million and will be completed within a year.

In January 2024, Lindsay Corporation (US) introduced FieldNET NextGen, a new user interface for its FieldNET platform that makes managing precision irrigation easier. The new interface offered farmers clear and intuitive maps, graphics, and real-time analytics for efficient irrigation control and monitoring. It features better mapping, intelligent reporting, and remote control, giving farmers a complete view of their fields.

Key Questions Addressed by the Precision Irrigation Market Report:

What is the current size of the precision irrigation market?

What are the key market players, and how intense is the competition?

Which region is estimated to account for the largest share of the precision irrigation market in 2024?

What kind of information is provided in the company profiles section?

What are the factors driving the precision irrigation market?

About MarketsandMarkets™

MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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“MarketsandMarkets™”

The global biopesticides market is projected to reach USD 15.66 billion by 2029 from USD 7.72 billion by 2024, at a CAGR of 15.2% during the forecast period in terms of value. The growth in the biopesticides market is driven by increasing consumer demand for food produced organically and sustainably, coupled with increasing stringent government regulations pertaining to synthetic pesticides. In 2023, the EPA updated its FIFRA regulations. These updates will involve a more complete analysis of chemical pesticides’ environmental and health risks, emphasizing ensuring minimal risk from pesticide residues in food. These revised regulations, particularly those related to the FQPA, further complicate the safety standards for synthetic chemical pesticides. The European Union opted to ban several key active ingredients in agriculture. In June 2022, the executive arm of the European Union proposed a reduction in chemical pesticides by 50% by 2030. All these types of restrictions are forcing the use of biopesticides in agricultural production.

Biopesticides Market Driver: Increasing demand for organic food

The increasing demand for organic food is a major driving factor behind the biopesticides market, as consumers increasingly seek healthy and environmentally friendly practices. Organic farming, which does not allow synthetic chemicals, depends on biopesticides to control pests and diseases in accordance with certification standards. This trend is driven by increased awareness of the health and environmental impacts of chemical residues. As consumers increasingly seek healthier options, farmers must adapt to organic and natural crop management methods without artificial chemicals. Organic farming prohibits synthetic pesticides and fertilizers, creating a natural alignment with biopesticides derived from natural sources like microorganisms, plant extracts, and other organic compounds. Organic food sales in the US broke through the USD 60 billion mark for the first time in 2022, and total organic sales, including non-food items, reached a record of USD 67.6 billion, according to the Organic Trade Association’s 2023 Organic Industry Survey. This has correspondingly increased organic produce sales, increasing the demand for biopesticides as more farmers attempt to meet organic standards by managing pest populations effectively.

Biopesticides Market Opportunities: Integration of biopesticides in precision agriculture

Precision agriculture is one of the key opportunities in the biopesticides market. It enhances the effectiveness and efficiency of pest management. Precision agriculture technology, like drones, GPS-guided equipment, and sensor-based systems, allow the targeted application of biopesticides in precise locations where waste is not induced and ensures efficient coverage of fields. In the process, environmental impact will be minimized and effective to reduce costs to the farmer who has a need for a precise application of biopesticides where and when needed. Technology combined with eco-friendly solutions can produce notable potential for the growth of biopesticides in modern, sustainable farming systems. Apart from this, the precision agriculture-based insights on data-driven information facilitate a better observation of pests and the provision of tailored solutions that suit the requirements of sustainable and efficient farming. To promote integration, governments and stakeholders in the agricultural sector offer subsidies, sponsor research, and create partnerships to push for innovations that bring sustainable agriculture closer to society. The advancement of digital farming platforms will facilitate biopesticide use in precision agriculture, hence promising a new source of market openings mainly in countries with high and rapid growth rates of advanced agricultural practices.

By crop type segment, fruits & vegetables segment to hold largest market share.

The fruits & vegetables hold largest share in biopesticides market. The increasing popularity of fresh organic produce among consumers is forcing the farmer to take the step of resorting to biopesticides as the crops they produce must have no chemical residue on them. This trend is particularly crucial for fruits and vegetables because they are eaten raw, and thus food safety is a greater concern. Biopesticides provide the opportunity to control pests while maintaining such low pesticide residue levels, hence they are favored by growers in these markets.

Moreover, fruits and vegetables are significantly vulnerable to various pests and diseases, which could seriously affect yield as well as quality. The disadvantages of traditional pesticides can be eliminated with the help of biopesticides. Biopesticides provide effective control over pests that target a specific pest without harming beneficial insects or the environment. Increasing IPM practices in fruit and vegetable farming have further promoted the use of biopesticides. The fruit and vegetable sector is the major consumer of biopesticide solutions with an increasing number of biopesticide products being developed to address diverse pest problems in crops.

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By formulation segment, liquid form segment to grow at highest rate during forecast period.

Liquid biopesticides can be mixed easier, applied and incorporated into most conventional spraying apparatuses, so they are generally easier for the farmer to work with. Uniform distribution of the active ingredients by liquid biopesticides over crops can also be increased. Liquid formulations are also more versatile in terms of application, whether foliar or soil, and hence can be applied to almost all types of crops under various kinds of growing conditions. Rising demand for easy-to-use, effective formulations opens up larger space for liquid biopesticides in the market.

Advances in formulation technology in recent times have rapidly increased the adoption of liquid biopesticides because of improved stability, shelf life, and performance. Liquid biopesticides have the advantage of speedier effects for control purposes in most cases, making them preferable for pest management under high pressure. Besides, with increased emphasis on integrated pest management, where biological control methods are combined with other forms of pest management, liquid biopesticides become easy choices because they fit into the flexibility and successful operations in controlling most kinds of pests. Liquid biopesticides will find a significant growth in demand from farmers seeking alternatives to chemical pesticides.

North America to dominate biopesticides market Share during forecast period.

North America holds the largest share of the market in biopesticides, due to strong support from regulations and a growing need for sustainable agriculture, as well as a large adoption rate for organic farming. In the US and Canada, stringent regulations pertaining to the application of chemical pesticides, especially in the production of food, have fueled the rapid use of biopesticides as safer alternatives. Besides subsidies and grants given by the government, it supports the practice of sustainable farming using biopesticides. The region’s strong research and development activities, especially in the United States, have also contributed to North America’s leadership in the biopesticides market. Leading agricultural companies in the region are investing heavily in new biopesticide formulations, improving the efficacy of products developed and expanding the possibility of application on most crops. Good distribution networks are also developed in the North American market, which makes the product extensively available for use among farmers. With both public and private sectors continuing to strive for the cause of environment-friendly farming practices, North America would continue to maintain its lead position in the global market of biopesticides.

Top Biopesticides Companies

Key players in this market include BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), UPL (India), Corteva (US), FMC Corporation (US), Nufarm (Australia), Sumitomo Chemical Co., Ltd. (Japan), Certis USA L.L.C. (US), Bioceres Crop Solutions (Argentina), Novonesis Group (Denmark), Koppert (Netherlands), Biobest Group NV (Belgium), Gowan Company (US), and Lallemand Inc (Canada).

Recent Developments of Biopesticides Industry

In May 2024, Bioceres Crop Solutions Corp announced that Brazil’s Ministry of Agriculture and Livestock (MAPA – Ministério da Agricultura e Pecuária) has approved three new bio-insecticidal and bio-nematocidal solutions derived from inactivated cells of the company’s proprietary Burkholderia platform.

In May 2024, FMC Corporation and Optibrium signed an agreement to accelerate the discovery of novel crop protection technologies including biopesticides using ML and AI.

In April 2024, Bayer signed an agreement with UK-based AlphaBio Control on a new biological insecticide. This strategic move should strengthen Bayer’s product portfolio. This new insecticide will be the first of its kind made available for arable crops, such as oilseed, rapeseed, and cereals, enabling Bayer to enhance its offerings in the field of sustainable crop protection.

In March 2024, BASF invested in building a new fermentation plant for biological and biotechnology-based crop protection products at the Ludwigshafen site. The plant is expected to start operating in the second half of 2025. It will include biological fungicides and seed treatments, among other valuable products, to help farmers.

In December 2023, Syngenta introduced CERTANO, its first biological product for sugarcane production. This microbiological bionematicide controls nematodes and acts as a biofungicide with immediate and long-lasting action, promoting plant growth.

Key Questions Addressed by the Biopesticides Market Report:

Which are the major companies in the biopesticides market? What are their major strategies to strengthen their market presence?

What are the drivers and opportunities for the biopesticides market?

Which region is expected to hold the largest share in the biopesticides market?

What are key technology trends prevailing in the biopesticides market?

What are the factors driving the biopesticides market?

About MarketsandMarkets™

MarketsandMarketsTM has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/biopesticides-267.html

Press Release Distributed by ABNewswire.com

To view the original version on ABNewswire visit: Biopesticides Market Insights: A Comprehensive Analysis of Current Trends and Future Outlook