NEW YORK, Nov. 23, 2016 /PRNewswire/ -- "Global biopesticides market projected to grow at a CAGR of 17.4%"The global biopesticides market is projected to reach a value of USD 8.82 billion by 2022, growing at a CAGR of 17.4% from 2016. The market is driven by factors such as growth in the crop production, ease of application, increase in need for organic food, and rise in preference for sustainable pest control pesticides. The change in farming practices (from traditional to biotechnological), clubbed with advanced technologies and promotion by the governments of many countries across the world also drives the demand for biopesticides in the agricultural sector. Factors such as low shelf life of biopesticides and high cost of biopesticides leading to the rise in agricultural cost of production are restraining the growth of the market. "Bioinsecticides segment accounted for the largest market share in 2015 among the types of biopesticides" On the basis of type, biopesticides have been segmented into bioinsecticides, biofungicides, bioherbicides, and bionematicides, and others, which include sulfur, oil, insect repellent, moth control, and biochemicals. Among these, the bioinsecticides segment accounted for the largest market share in 2015, followed by the bioherbicides and biofungicides segments, respectively. Bioinsecticides are largely used for horticultural crops, for healthy crop growth. "Foliar spray segment led the market with the largest share in 2015"On the basis of mode of application, the biopesticides market has been segmented into foliar spray, seed treatment, soil treatment, and post-harvest. The market was led by foliar spray followed by soil treatment. Foliar spray is largely used by farmers because of its high efficiency and ease of application. " North America dominated the market with the largest share, whereas Europe growing at the highest CAGR"North America formed the largest market for biopesticides in 2015, whereas Europe accounted for the second-largest market share in 2015. Extensive R&D activities in the North American region have helped in the introduction of customized and crop-specific products, which in turn led to the growth of biopesticides market. The global biopesticides market has been segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia-Pacific, and the Rest of the World (RoW). European region is projected to be the fastest-growing market for the next six years, owing to the development of agricultural sector and growth in demand for food. Breakdown of profiles of primary participants is as follows:- By Company Type: Tier 1 - 30 %, Tier 2 - 45%, and Tier 3 - 25% - By Designation: Directors - 22%, C level - 28%, and Manager level - 50%- By Region: North America - 35%, Europe - 23%, Asia-Pacific - 32%, and RoW - 10% Key players identified in the biopesticides market include BASF SE ( Germany), Bayer CropScience AG ( Germany), Marrone Bio Innovations Inc. (U.S.), Certis USA LLC (U.S.), Koppert Biological Systems ( Netherlands), and The Dow Chemical Company (U.S.), Monsanto Company (U.S.), Isagro SPA ( Italy), Camson Bio Technologies Limited ( India), Bioworks, Inc. (U.S.), W. Neudorff GmbH Kg ( Germany), and Valent Biosciences Corporation (U.S.).