Biopesticides market growth expected in US, Europe - analysts

18 November 2009 14:13  [Source: ICIS news]

LONDON (ICIS news)--The biopesticides market in western Europe and North America is growing strongly on the back of increasing demand for chemical-free crops and the expansion of organic farming land, said research and consultancy firm Frost & Sullivan on Wednesday.

Frost & Sullivan analysis found that the North American and western European biopesticides market earned revenues of $594.2m (€398.1m) in 2008 and estimated this to reach $1.02bn in 2015.

“The major growth factor for the biopesticides market is the escalating demand for chemical-free crops by end users and supermarkets,” said Frost & Sullivan research analyst Yeshwanth Kumar Desikamani, adding: “Major supermarket chains including Walmart and Tesco, among others, are demanding chemical-free crops, fruits and vegetables.”

Governments in these regions have supported the reduction of chemicals used in agriculture with regulations limiting maximum residue levels, which have helped the demand for biopesticides to grow.

($1 = €0.67)

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By: Franco Capaldo
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