Agriculture

Beneficial Insects Market is Projected to Reach USD 2,101.3 Million by 2031

Jun 2024

Agriculture

As per the report published by Kings Research, the global Beneficial Insects Market was valued at USD 900.0 million in 2023 and is projected to reach USD 2,101.3 million by 2031, growing at a CAGR of 11.39% from 2024 to 2031.

The beneficial insects market is witnessing steady growth driven by increasing awareness among farmers about the ecological benefits of using natural pest control methods. With rising concerns over the environmental impact of chemical pesticides, there is a growing demand for alternative solutions that promote sustainable agriculture practices. Moreover, advancements in biotechnology and breeding techniques are expanding the range of beneficial insects available for pest management across various crops. Additionally, government initiatives and regulations favoring integrated pest management strategies further support the market growth. However, challenges such as limited availability of beneficial insect species, variable efficacy, and high initial costs hinder market expansion. Despite these challenges, the beneficial insects market is expected to continue its growth trajectory as farmers increasingly prioritize environmentally friendly and sustainable pest control methods.

Moreover, organic farming heavily relies on beneficial insects for pest management, aligning with the growing consumer demand for pesticide-free produce. The factors supporting the increasing adoption of beneficial insects include the rising awareness of environmental sustainability, growing consumer demand for organic products, and regulatory pressure to reduce chemical pesticide usage. As farmers seek safer and more eco-friendly alternatives to conventional pest control methods, the demand for beneficial insects continues to grow.

Key Insights

  • Based on application, the crop protection segment is anticipated to experience the highest CAGR of 11.98% over the forecast period
  • Based on type, the parasitoids segment generated a significant revenue of USD 269.6 million in 2023
  • Based on crop type, the flowers & ornamentals dominated the share accounting for 39.72% in 2023
  • On the basis of region, Asia Pacific is expected to witness the fastest CAGR of 12.27% through the projection period

Growing Emphasis on Integrated Pest Management (IPM) Creates Opportunities for the Beneficial Insects Market Development

Integrated pest management (IPM) is gaining prominence as a holistic approach to pest management that emphasizes the use of multiple strategies, including biological control methods such as beneficial insects, alongside cultural, mechanical, and chemical interventions. This approach aims to minimize the use of chemical pesticides while effectively managing pest populations. The growing emphasis on IPM presents significant opportunities for the beneficial insects market growth. As consumers and regulatory bodies increasingly prioritize sustainable and environmentally friendly agricultural practices, there is an increased demand for natural pest control solutions such as beneficial insects. Additionally, IPM programs promote long-term pest suppression and reduce the risk of pesticide resistance, thereby driving the adoption of beneficial insects as a key component of integrated pest management strategies. Furthermore, IPM adoption encourages collaboration among farmers, researchers, and pest control advisors, fostering innovation and the development of new beneficial insect species and rearing techniques tailored to specific agricultural settings.

Adoption of Sustainable Agricultural Practices to Aid Market Growth

The growing global emphasis on sustainable agriculture practices is a key driving force behind the expansion of the beneficial insects market. With mounting concerns regarding the environmental impact of chemical pesticides, farmers are increasingly turning towards natural alternatives for pest control. Beneficial insects offer an eco-friendly solution by effectively managing pest populations without causing harm to the environment or human health. Moreover, the adoption of beneficial insects aligns with consumer preferences for organic and pesticide-free produce, further incentivizing farmers to integrate these natural pest management methods into their farming practices. This shift towards sustainable agriculture presents significant opportunities for the beneficial insects market to thrive and contribute to a more environmentally conscious food production system.

Asia Pacific is Expected to Witness the Highest Growth with the Forecasted CAGR of 12.27% Between 2024 and 2031

Asia Pacific is poised to emerge as the fastest-growing region in the global beneficial insects market in the foreseeable future. The region's dynamic agricultural landscape, characterized by a diverse range of crops and farming systems, presents ample opportunities for the adoption of beneficial insects as part of integrated pest management strategies. Countries such as China, India, and Southeast Asian nations are experiencing rapid urbanization and industrialization, leading to an increased environmental concerns and regulatory scrutiny over pesticide usage in agriculture. As a result, there is a growing shift toward sustainable agricultural practices, including the use of biological pest control methods, to mitigate the environmental impact of conventional farming practices. Furthermore, increasing consumer awareness of food safety and environmental sustainability is driving demand for pesticide-free and organic produce in the region, thereby bolstering the growth of the beneficial insects market. Government initiatives and policies aimed at promoting sustainable agriculture and reducing chemical pesticide usage are further expected to drive market growth in Asia Pacific. The region presents lucrative opportunities for market players to expand their presence and capitalize on the region's evolving agricultural landscape.

Market Players Concentrating on Innovative Product Launches to Drive Market Development

The global beneficial insects market is fragmented with key players such as Biobest Group NV, Koppert Biological Systems, Syngenta AG, Bayer AG, Certis USA LLC, Andermatt Biocontrol AG, Sumitomo Chemical Company Limited, Marrone Bio Innovations, Inc., Russell IPM Ltd, and Bioline AgroSciences Ltd. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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