Currently, the USD 56 billion worldwide pesticide market is anticipated to have a biopesticide market of between USD 3 and 4 billion [11]. With compound annual growth rates of 14.1% [12], it is estimated that the development of biopesticides will outpace that of chemical pesticides [11].

The US biopesticides market is now estimated at roughly USD 205 million, with a predicted increase to nearly USD 300 million by the end of the decade. North America consumes approximately 40% of the world’s biopesticide production. The market for European biopesticides was predicted to be worth over USD 135 million in 2005 and reached approximately USD 270 million by 2010, with Oceanic and European countries accounting for 20% of global sales, respectively [13], as depicted in Figure 1. Sales of chemical pesticides are anticipated to decrease, whereas sales of biopesticides are predicted to expand moderately in South and Latin America, which, together, account for 10% of the global biopesticide market. As the mega-economies of China and India increase their usage of biopesticides, the Asian market—while still relatively small—presents a significant opportunity for biopesticides. According to India’s agricultural ministry, biopesticides currently account for only 2.89% of the 100,000 metric tons of pesticides sold worldwide, but are expected to grow by an estimated 2.3% annually [13].

There are more than 200 items accessible on the US (United States) market and 60 comparable products on the EU (European Union) market. Fewer biopesticides have been registered in the European Union than in Brazil, the United States, China, and India due to their extremely drawn-out and challenging registration procedures [14]. Only five microbial products were reported to be sold in the UK compared to ten in Germany and fifteen in each of France and the Netherlands [15]. In Nigeria, the minimal utilization of biopesticides is a consequence of poor infrastructure, expensive costs, and governmental policies. A total of 327 biopesticides were registered in China. A total of 11 species of microorganisms were used to create 270 bacterial biopesticides, of which, B. thuringiensis was used to create 181 biopesticides [16]. In Kenya, out of 868 registered products, 20 microbial pesticides are authorized for use. The list includes one baculovirus, nine entomopathogenic-fungi-based products, nine products based on Bacillus thuringiensis, and one product based on an entomopathogenic nematode [17].

Bacterial products, particularly those from Bt, are increasingly commonly employed. The biopesticide sector has traditionally placed a high priority on the production of Bt, which is currently the primary bacterium used to control agricultural pests. Its strong position in the biopesticide sector is demonstrated by the fact that, according to the Centre for Agriculture and Bioscience International (CABI 2010), 200 Bt-based products occupy more than 53% of the global biopesticide market, with the USA and Canada consuming approximately 50% of this total [15]. Bacillus thuringiensis, which accounts for over 70% of all bacterial biopesticide use, is followed by B. subtilis and B. fluorescens. In addition to bacterial insecticides, fungi are now being employed as pesticides. Approximately 60% of the market for fungal biopesticides is made up of Beauveria species, and 60% of the market for viral biopesticides is made up of nucleopolyhedrosis virus. In general, smaller farms are more likely to use predator and virus biopesticides. Nematodes hold the largest market share (approximately 60%) among the “other” class of biopesticides [18].

By 2023, biopesticides were estimated to expand at an average annual rate of 8.64% and make up more than 7% (USD 4.5 billion) of the global crop protection industry [19]. In terms of market size, biopesticides are anticipated to catch up to synthetics between the late 2040s and the early 2050s, but there are significant uncertainties surrounding the uptake rates, particularly in regions such as Africa and Southeast Asia, which account for a large portion of the projections’ flexibility [12].

Although the usage of biopesticides is rising by approximately 10% annually on a global basis, it appears that the industry will need to expand even more in the future if these pesticides are to play a significant part in replacing chemical pesticides and eliminating the existing over-reliance on them [20]. Future market growth for biopesticides is closely correlated with biological control agent research. In order to improve the cooperation of businesses and research institutes on this problem, several scientists from various research institutes have conducted some studies. The agriculture industry can and should profit from the coexistence of biopesticides and chemical pesticides as it appears that biopesticides cannot yet totally replace chemical pesticides. In this context, it is envisioned that large-scale industrial development will be facilitated by speeding up the practical application of research findings [10].

The US Environmental Protection Agency (EPA) has identified three main categories for biopesticides as summarized in Figure 2.

(1) Microbial biopesticides—Microorganisms (bacteria, fungi, viruses, protozoans, or nematodes) are the main component of microbial pesticides. Although each individual active ingredient in microbial pesticides is quite specialized for its intended pest(s), they can control a wide variety of pests [21]. These biopesticide classes have been effective in reducing weeds, plant diseases, and insect pests [22]. Microbial biopesticides can be applied to crops in a variety of ways, including as live organisms, dead organisms, and spores [8]. Microbial pesticides work to reduce disease by producing a toxin that is particular to the pest that is being controlled. The effect of microbial infections is brought about by the pathogen’s infiltration through the skin or stomach of the insect, which leads to pathogen proliferation and the host’s, i.e., insect’s, death. The microbial pathogens generate insecticidal toxins that are crucial in their pathogenesis. Although their structure and toxicity might vary greatly, the majority of toxins generated by microbial infections are known to be peptides [21]; for example, Verticillium leconi, Metarhizium anisopliae, Bacillus thuringiensis, etc. Baculoviruses have a good prospect for the management of pests belonging to the orders Lepidoptera (butterflies and moths), Hymenoptera (sawflies), and Coleopteran (beetles). Chemical insecticides can be replaced with microbial pesticides since they are more effective. The insect pathogenic bacterium B. thuringiensis is the most commonly used microbial biopesticide (Bt). When bacterial spores develop, a protein crystal known as the Bt-endotoxin is produced. When ingested by insects that are vulnerable, this substance can lead to the lysis of gut cells [22]. The target insect species is determined by the Bt crystalline protein’s binding to the insect gut receptor [23]. Depending on the species, they are more or less pathogenic to the target pest [24].

(2) Biochemical pesticides—Biochemical pesticides are organic compounds that use non-toxic methods to control pests. These are employed to modify an insect’s physiology, behavior, and even control [24]. Semiochemicals are also included in this group of biopesticides [25]. They might come from insects, animals, or plants. These categories of biopesticides include compounds such as plant growth regulators that prevent breeding and population expansion, as well as compounds such as pheromones that either repel or attract pests. When signals intended to cause a behavioral response are instead delivered to another organism, control becomes apparent [26]. The fast-acting insecticidal chemicals pyrethrins, which are generated by Chrysanthemum cinerariaefolium, are a common example of secondary metabolites that plants make to prevent herbivores from feeding on them [27]. Neem (Azadirachta indica) oil, an insecticide derived from the seeds of the neem tree, is the most popular botanical substance. At least two insect-killing chemical substances, azadirachtin and salannin, are produced by the neem tree. Azadirachtin inhibits insect feeding and controls growth [22].

(3) Plant-incorporated protectants (PIPs)—PIPs are biopesticidal compounds that are made by plants from genetic material that has been incorporated into the plant. For instance, researchers may insert the gene for the Bt pesticide protein into the genetic material of the plant. The pest-killing substance is then produced by the plant rather than the Bt bacterium. EPA regulates the protein and its genetic makeup but not the plant itself [28]. This is also referred to as the non-conventional pest control product [22]. PIPs are biopesticides that are directly expressed in the tissue of genetically modified (GM) crops in order to defend them against pests such as viruses and insects. When eating on the transgenic crop tissue, insect pests ingest PIPs. Cry protein and double-stranded ribonucleic acid are examples of PIPs (dsRNA). There are various Cry protein types, each having a distinctive structure and toxicity that is exclusive to particular insect groups. Cry1 proteins poison Lepidoptera (such as the corn borer), whereas Cry3 proteins poison Coleoptera (such as the corn rootworm). The first-generation insecticidal PIPs were cry proteins. Recently, the next-generation dsRNA PIPs received approval. The first dsRNA PIP authorized by the FDA interferes with the synthesis of the Snf7 protein, a crucial vacuolar sorting protein, in order to kill the maize rootworm (Diabrotica virgifera virgifera) [29].

4. Regulation of Biopesticide