It is a widely recognized fact that biological control measures offer organic agriculture solutions and are a highly effective tool for integrated or conventional pest management programs and environmentally friendly, residue-free food production. The beneficial insects market is forecasted to experience a boom in market production post the pandemic as the demand for these insects in the farming and agricultural sectors increases.
Beneficial insects provide services such as pollination and pest control in the agriculture industry. The market will experience an exponential boom in its revenues and market share owing to a rise in environmental concerns by people worldwide.
Along with this, an increase in the demand for bio-control agents targeting pest-specific substances, a rise in agricultural productivity, and an improvement in food grain harvest are the driving factors of the market. The increasing worldwide use of beneficial insects to target pests and bacteria that harm crops and harvest of farms and the regulatory procedures will have an influential impact on the beneficial insects market.
According to Business Research Insights, the market for beneficial insects was valued at USD 324 million in 2021 and is projected to reach a valuation of USD 573.6 million by 2028 with a CAGR of 8.4%. The market has leading players; Biobest, Bioline Agrosciences, Applied Bio-Nomics, Arbico Organics, Andermatt Biocontrol, Biological Services, Fargo, Biobee Biological Systems, Natural Insects Control, and Tip-Top Bio Control.
Development of Digital Infrastructure Boosts the Market
The innovations in the digital infrastructure in regions such as North America will lead the market prospects of the industry as it is the largest region demanding crop protection. With consumers becoming aware of organic products and crop production, the market will see a growth trajectory as the demand for these agents increases. Thus, the region's market share will boom exponentially during the forecast period, aiding investors and manufacturers in recording massive profits and revenues.
Business Research Insights States Top 5 Beneficial Insects Companies-
1. Biobest (Belgium)
The pioneer of sustainable crop management, Biobest is a Belgium-based company that uses bumblebee pollination to improve the quality of crop yields or harvests. With the innovation of bumblebee pollination in tomatoes, the company has deployed the strategy for other crops and harvests. To guarantee a healthy working environment and organic, insecticide-free crops, the company constantly keeps a check on the mechanisms used by its workers, thus ensuring a massive breakthrough for biological control.
2. Bioline Agrosciences (U.K.)
Bioline AgroSciences produces various biological control organisms for controlling insect pests in several crops. Being a global company with operations in 30 countries and strength in Europe and North America, the company aims to protect crops, vegetables, soft fruits, and berries. The leading U.K.-based company also provides high-quality products & services to support growers in maintaining the yield quality of their harvest, which has benefited the company immensely over the years.
3. Applied Bio-Nomics (Canada)
Applied Bio-Nomics is a Canada-based world leader in implementing biological pest controls and was the first company to introduce growers. The company's products are used in banana crops, arborvitae, pepper crops, roses, hops, and butterfly conservatories. In 2005, the company took a significant decision to eliminate cold storage of our products as research showed that any storage below eight or nine degrees celsius impairs the searching ability of the flying insects, which is a critical efficacy factor for crops.
4. Arbico Organics (U.S.)
Arbico Organics is a leading Arizona-based producer supplying commercial growers, landscapers, and home gardeners with natural products for comprehensive pest control solutions and innovations. With a top worldwide consumer base, the company provides innovative pest control solutions using the latest trends and market innovations to eliminate flies and garden pests, thus offering innovative solutions.
5. Andermatt Biocontrol (Switzerland)
Based on the European continent, the company aims to replace chemical pesticides with better natural alternatives, such as microbial products, natural substances, and beneficial insects. Andermatt Biocontrol started as a company producing plant-based products containing baculoviruses and is a leading industrial player offering innovative market solutions.
Increasing Canola Production Offers a Bright Future for Beneficial Insects
Beneficial insects play a vital role in canola production, thus aiding crop pollination and insect pest prevention amongst crops and harvests. The high prevalence of insects in canola fields has wide-ranging applications in the organic farming and agricultural sector that will fuel the market growth and share worldwide. With technological innovations and new market trends by leading industrial players, the market will see an exponential rise in the demand for beneficial insects and pollinators. Therefore, leading manufacturers and investors will benefit from the upcoming industrial developments, mergers, and acquisitions.