Beneficial Insects - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Beneficial Insects Market is accounted for $531.26 million in 2018 and is expected to reach $1521.27 million by 2027 growing at a CAGR of 12.4% during the forecast period. Growing demand for pest-specific bio-control agents and rapid growth in demand for organic products are the major factors propelling the market growth. However, usage of macrobials is labor-intensive and requires professional training and short shelf life of macrobials are hampering the market growth.
Beneficial insects are insects that make valued services like pollination and pest control. The idea of beneficial is subjective and only rises in light of preferred results from a human perspective. In cultivating and agriculture, where the objective is to raise chosen crops, insects that delay the production procedure are categorized as pests, while insects that help production are considered beneficial.
Based on the application, the crop protection segment is going to have a lucrative growth during the forecast period as these insects are mostly used in crop protection from harmful pests and demand is driven by factor such as eco-friendly nature of microbial pesticides and increasing demand for organic food products. By geography, North America is going to have a lucrative growth during the forecast period due to increasing awareness about the benefits of organic products among the consumers, adoption of IPM practices, advancement in farming technology, and increase in environmental concerns.
Some of the key players profiled in the Beneficial Insects Market include Tip Top Bio-Control, Natural Insect Control, Fargro Ltd., Dudutech, Biological Services, Bioline Agrosciences Ltd., Biobest NV, Biobee Biological Systems Ltd., Arbico Organics, Applied Bio-Nomics Ltd. and Andermatt Biocontrol AG.
• Crop Production
• Crop Protection
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
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