CPL Scientific is projecting that global sales of biopesticides will reach $2.8 billion in 2015, or 4% of the overall crop protection market. Additionally, the group expects sales to grow by 15% annually until 2020, with sales reaching $6.6 billion. This according to a report published in Farm Chemicals International
Why are these growth projections so strong? The top reason is escalating consumer demand for pesticide-free foods. Second is reported to be purchasing policies by large grocery retailers. Environmental/food safety regulations and demand from agriculture retailers are driving adoption as well.
This growth is very attractive to EcoPesticides, which is developing biologic-based pesticides and encapsulation technology designed to extend the potency and thus the performance of the insect-controlling properties of the “green” material inside. Our goal of commercializing biologic-based technologies that target specific crop-destroying insects while doing to harm to the environment appears on target with consumer and market demand and desires. #DoNoHarm