Global beneficial insects market to reach $ 788 Million by 2022

Date:05-02-2017

The beneficial insects (macrobials) market is projected to grow at a CAGR of 10.4% to reach USD 788.0 Million by 2022. The market growth is driven by the rising demand for organic food, need for food security for the growing population, advancement in farming practices and technologies, and heavy crop loss due to pest problems. The market is further driven by factors such as increasing demand for pest-specific bio control agents, along with increasing acceptance for Integrated Pest Management (IPM) by the farmers, and high opportunities in developing countries.

On the basis of type, the beneficial insects (macrobials) market is led by predators, followed by parasitoids and pollinators. The predators lead the market as they destroy and feed upon many preys (pest/insects) during their lifetime or during their development. They capture and eat other organisms such as insects or mites. Predators include ladybird beetles, ground beetles, lacewings, syrphid (hover) flies, aphid midges (Aphidoletes), and yellowjacket wasps. Parasitoids are insects that parasitize other insects. The immature stages of parasitoids develop on or within its host, eventually killing it. Parasitoids may attack all life stages of their host.

The beneficial insects (macrobials) can be used in both crop protection as well as crop production; however, it is mostly used in crop protection from harmful pests. Crop protection application is projected to grow at the higher CAGR during the forecast period. The demand is driven by factor such as ecofriendly nature of microbial pesticides and increasing demand for organic food products.

In 2016, in terms of volume, North America accounted for the largest market share in beneficial insects (macrobials) market, followed by Europe and Asia-Pacific. Increasing awareness about the benefits of organic products among the consumers, adoption of IPM practices, advancement in farming technology, and increase in environmental concerns is leading to the growth of the market in this region. The beneficial insects (macrobials) market in the Asia-Pacific region is projected to grow, with investments from several multinational manufacturers. Moreover, extensive R&D initiatives have been undertaken for exploring the new varieties of beneficial insects and their effective control methods.

Factors such as short shelf life and labor-intensive usage & requirement of professional training act as restraints to the market.

Key players identified in the global beneficial insects (macrobials) market include Dudutech Ltd. (Kenya), Koppert BV (Netherlands), BioBest NV (U.S.), Applied Bio-Nomics Ltd. (Canada), and Bioline AgroSciences Ltd. (U.K.). Most key participants have been exploring new regions through new product launches, collaborations, and acquisitions across the globe to avail a competitive advantage through combined synergies. Since 2011, the beneficial insects (macrobials) market has witnessed an increase in demand as a result of increased demand for organic products, especially in countries such as the U.S., Canada, Spain, and the U.K.