What is Global Beneficial Insects Market?
The Global Beneficial Insects Market is a fascinating and rapidly growing sector within the broader agricultural industry. This market revolves around insects that provide a net benefit to the ecosystem, including but not limited to, crop production and protection. These insects, often referred to as 'beneficials', play a crucial role in maintaining the balance of our ecosystems. They contribute to the natural control of pests, the pollination of plants, and the decomposition of organic matter. The market for these insects has been growing steadily, driven by increasing awareness of the importance of sustainable farming practices and the need to reduce reliance on chemical pesticides. The Global Beneficial Insects Market is a complex and diverse one, with a wide range of species being commercially bred and sold for various applications.
Predators, Parasitoids, Pollinators, Others in the Global Beneficial Insects Market:
The Global Beneficial Insects Market is segmented into several categories based on the type of insect: Predators, Parasitoids, Pollinators, and Others. Predators are insects that prey on other insects, often pests that can damage crops. They are a natural form of pest control and are used extensively in organic farming. Parasitoids are insects whose larvae live as parasites within the body of a host insect, eventually killing it. They are also used for biological control of pests. Pollinators, such as bees and butterflies, play a crucial role in crop production by transferring pollen from male to female flower parts, enabling fertilization and the production of fruits and seeds. The 'Others' category includes a variety of insects that contribute to soil health by breaking down organic matter and recycling nutrients. Each of these categories has its unique role and value within the Global Beneficial Insects Market.
Crop Protection, Crop Production in the Global Beneficial Insects Market:
The Global Beneficial Insects Market finds its application primarily in two areas: Crop Protection and Crop Production. In Crop Protection, beneficial insects are used as a biological control method to reduce the population of pest insects. This is a more sustainable and eco-friendly alternative to chemical pesticides, which can have harmful effects on the environment and non-target species. In Crop Production, beneficial insects, particularly pollinators, play a vital role. They help in the fertilization of flowers, leading to the formation of fruits and seeds. This is crucial for the production of a significant proportion of the world's food crops. The use of beneficial insects in these areas not only contributes to sustainable agriculture but also helps in maintaining biodiversity.
Global Beneficial Insects Market Outlook:
Looking at the market outlook for the Global Beneficial Insects Market, it's clear that this sector is on a growth trajectory. In 2023, the market was valued at US$ 324 million. However, it's projected to almost double by 2030, reaching an estimated value of US$ 573.6 million. This represents a compound annual growth rate (CAGR) of 8.4% during the forecast period from 2024 to 2030. The market is dominated by a handful of key players, with the top five manufacturers accounting for over 25% of the market share. In terms of product categories, Predators represent the largest segment, holding over 35% of the market share.
| Report Metric | Details |
| Report Name | Beneficial Insects Market |
| Accounted market size in 2023 | US$ 324 million |
| Forecasted market size in 2030 | US$ 573.6 million |
| CAGR | 8.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| By Region |
|
| By Company | Biobest, Bioline Agrosciences, Applied Bio-Nomics, Arbico Organics, Andermatt Biocontrol, Biological Services, Fargro, Biobee Biological Systems, Natural Insect Control, Tip Top Bio-Control |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
