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 report "Beneficial Insects (Macrobials) Market by Type (Predators, Parasitoids, Pathogens, and Pollinators), Application (Crop Protection and Crop Production), and Region - Global Forecast to 2022", The beneficial insects (macrobials) market is estimated to be valued at USD 481.4 Million in 2017, and projected to reach USD 788.0 Million by 2022, at a CAGR of 10.4%.
Browse 100 market data tables and 60 figures spread through 159 pages and in-depth TOC on "Beneficial Insects (Macrobials) Market by Type (Predators, Parasitoids, Pathogens, and Pollinators), Application (Crop Protection and Crop Production), and Region - Global Forecast to 2022"
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The beneficial insects (macrobials) market is projected to grow at a CAGR of 10.4% from 2017 to 2022. The demand is driven by factors such as the rise in need for food security owing to the growing population, rapid growth in demand for organic products, changes in farming practices from traditional to conventional, growth in demand for pest-specific bio-control agents, and increase in environmental concerns have been of importance to the growth of the beneficial insects (macrobials) market.
As a result, many multinational players have entered into the production of beneficial insects (macrobials), which can be used for different crops and for combating different types of pests.
The predators segment is projected to be the fastest-growing market during the forecast period
The predators segment is estimated to grow at the highest CAGR during the review period, as they feed upon many target pests/insects during their lifetime or during their development. Parasitoids are similar to parasites, which develop on the inside or outside of the host’s body.
Hence, pests targeted and eradicated by the application of predators is greater than the application of parasitoids who deteriorate a single host.
The crop protection accounted for a larger share
Crop protection products protect crops from the damage caused by insects, diseases, and weeds. Thus, these entities help in reducing the risk of loss of crop yield.
Crop protection is one of the most research-oriented industries. Some of the leading players invest approximately 15% of their turnover in research & development.
Chemical-based crop protection products do not provide sustainable solutions as they tend to cause loss of biological diversity and degradation of the physical-chemical quality of the environment. Hence, farmers have started preferring beneficial insects over chemical pesticides, which is expected to contribute to the overall demand for beneficial insects (macrobials) for crop protection.
North American region accounted for the largest market share
North America is the largest market in the beneficial insects (macrobials) industry. Beneficial insects (macrobials) are one of the fastest-growing sectors of the crop protection market in North America.
The demand for organic crop protection products in North America is rising due to the rising health and environmental concerns, among consumers. There has also been a significant push toward the consumption of organic products, as they do not contain synthetic chemicals that leave residues, which contribute to the growth of the beneficial insects (macrobials) Market in North America.
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