Beneficial Insects Market Size, Share, Growth, and Global Industry Analysis by Type (Predators, Parasitoids, Pollinators, and Others) By Application (Crop Protection and Crop Production), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2032

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BENEFICIAL INSECTS MARKET REPORT OVERVIEW

The global beneficial insects market size was USD 0.32 billion in 2023 and is projected to grow from USD 0.35 billion in 2024 to USD 0.67 billion by 2032, exhibiting a CAGR of 8.4% during the forecast period. Asia-Pacific holds a leading position in beneficial insects market share in 2023.

Beneficial insects are a diverse group of insects that provide valuable services such as pollination and pest control. The term "beneficial" is subjective and only applies in the context of desirable outcomes from a human standpoint. In farming and agriculture, insects that obstruct the production process are classed as pests, but insects that help the production process is considered useful.

One of the primary factors driving the growth of the beneficial insect market is the rise in environmental concerns among people all over the world. The market is growing due to an increase in demand for pest-specific bio-control agents, an increased focus on agricultural productivity and improved food grain quality. The growth in regulatory pressures and adverse effects associated with the use of synthetic plant protectants, and the increased usage of beneficial insects for dealing with pests or other bacteria that may affect crops in a natural way, all have an impact on the market.

COVID-19 Impact: Halt on Production and Supply Chain Disruption to Impede Sales. 

The global COVID-19 pandemic has been unprecedented and staggering, with beneficial insects experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the beneficial insects market growth and demand returning to pre-pandemic levels once the pandemic is over.

The recent COVID-19 epidemic experience highlights the requirement to safeguard that plants are secured from the effects of plant pests. One of the prospective significance of this global disaster is the probability of interrupted trade and negotiated access to a safe and steady source of food. Therefore, safeguarding stock of fresh food and guarding plants against pests was more important during a pandemic. While COVID-19 is affecting human well-being globally, plant pests and illnesses stay a threat to food manufacturing.

LATEST TRENDS

"Decline in Demand of Chemical Pesticides to Bolster Market Progress"

Chemical-based crop protection products cannot provide long-term solutions since they tend to reduce biological diversity and degrade environmental physical-chemical quality. Insecticides, fungicides, and weed killers protect crops against damage caused by insects, diseases, and weeds. As a result, these entities aid in lowering the risk of crop production loss. One of the most research-intensive sectors is crop protection. Therefore, farmers have begun to choose beneficial insects over chemical pesticides, which is predicted to increase the demand for beneficial insects for crop protection.

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BENEFICIAL INSECTS MARKET SEGMENTATION

• By Type

According to type; the market is divided into Predators, Parasitoids, Pollinators, and Others

• By Application

Based on the application; the market is divided into Crop Protection and Crop Production.

DRIVING FACTORS

"Increasing Demand in Canola Production to Facilitate Industry Progress"

Beneficial insects play an important role in canola production, both in terms of crop pollination and insect pest predation or parasitism. The vast majority of the tens of thousands of insects seen in canola fields are either useful or harmless. While spraying canola fields, it is critical to adhere to economic pest management thresholds and safeguard pollinators and parasitoids. Management options to use in maximizing canola production include accurately recognizing beneficial insects in addition to the pest insects they may be feeding on and preserving an undisturbed environment for them to maintain healthy populations.

"Government Regulations to Magnify Market Growth"

Biological treatments have proven to be a viable alternative to traditional chemicals, and they perform best when used in tandem. Invasive pests have emerged due to increased biotic and abiotic stress, resulting in lower crop yields. Most bioinsecticides, such as Bacillus thuringiensis, which has proven to be efficient against insect pests, have been commercialized and produced on a big scale.

To protect beneficial insects and limit hazardous levels across the food chain, the government placed strict regulations on the use of chemical pesticides. Farmers in these areas are using microbes in combination with beneficial insects to manage invasive pests in protected agriculture. These are some of the factors driving the market for biopesticides to grow.

RESTRAINING FACTORS

"High Costs and Poor Mechanical Performance to Impede Market Progress"

The employment of beneficial insects has one major drawback: they leave behind body casts, exoskeletons, and other insect leftovers. Insects produce pheromones, which are chemical substances that act as sexual attractants. These compounds are used to attract insects and to forecast population growth.

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BENEFICIAL INSECTS MARKET REGIONAL INSIGHTS

"Presence of a Developed Digital Infrastructure to Bolster Growth in North America"

North America is projected to dominate the beneficial insects market share because it is one of the fastest-growing segments of the crop protection market. Organic crop protection products are becoming more popular as customers become more concerned about their health and the environment. Organic products, which do not include synthetic pesticides that leave residues and aid to the market growth in the region, have also seen a considerable push.

The market for beneficial insects is growing in Europe due to a rise in pest infestations, pest resistance and resurgence, and the ban on essential active components. Farmers have begun to use biopesticides in response to the rising demand for organic food crops and the negative effects of chemical-based farming.

KEY INDUSTRY PLAYERS

"Companies Adopt Technologically Advanced Production Techniques to Improve Market Position"

The company's main focus is on product innovation, with four new products produced with the goal of expanding its product line and global visibility. The key strategies used by these market leaders are new product launches, mergers and acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

INDUSTRY DEVELOPMENT

• February 2021: Bioline Agrosciences has declared the acquisition of the Kenyan biocontrol company named Dudutech from British Flamingo Group International to endorse the agricultural and food changeover concerning an irrepressible agrosystem by emerging advanced and approachable products and resolutions.

LIST OF TOP BENEFICIAL INSECTS COMPANIES

• Biobest (Belgium)
• Bioline Agrosciences (U.K.)
• Applied Bio-Nomics (Canada)
• Arbico Organics (U.S.)
• Andermatt Biocontrol (Switzerland)
• Biological Services (Australia)
• Fargo (U.S.)
• Biobee Biological Systems (India)
• Natural Insects Control (Canada)
• Tip Top Bio-Control (U.S.)

REPORT COVERAGE

The research examines the most recent developments and the most profitable categories. It goes through the influence of COVID-19, the driving and restraining elements in detail. It keeps track of the important players' strategies and regional trends. It allows readers to learn about the critical methods that promote market growth.