Press release
Beneficial Insects Market Current Scenario with Future Trends Analysis to 2031
Beneficial Insects Market
The global Beneficial Insects market is estimated to reach over USD 2.18 billion by 2031, exhibiting a CAGR of 12.25% during the forecast period.
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Beneficial insects support sustainable agriculture and organic Food by aiding in pollination and occasionally acting as natural insecticides. By pollinating plants, lowering pest populations, and enhancing the health of our ecosystem, beneficial insects provide services that are helpful to agricultural, horticultural, and other habitats. Beneficial insects that are gigantic in size are specifically referred to as microbial. Beneficial insects increase the ecological diversity of larger ecosystem settings and shield plants and crops from harmful insect pests.
The global market for beneficial insects includes the production, trade, and use of these insects for a range of purposes, such as pollination, ecological restoration, and biological pest management. Insects that are beneficial to people are those that keep pests under control, pollinate crops, and create other goods. In agriculture or gardening, beneficial insects are used to control pests. They might be parasites like wasps or predators like ladybird beetles or lacewings. Beneficial insects are essential for increasing farmers' crop yields and raising the quality of fruits and vegetables collected from gardens and fields. Common examples of beneficial insects are ladybirds (ladybirds), spiders, bees, dragonflies, and praying mantises.
List of Prominent Players in the Beneficial Insects Market:
• Applied Bionomics Ltd (Canada)
• Biobest Group NV (Belgium)
• Bioline AgroSciences Ltd (UK)
• Fargro Limited (UK)
• Andermatt Group AG (Switzerland)
• ARBICO Organics (US)
• BioBee Ltd (Israel)
• BIONEMA (UK)
• Koppert (Netherlands)
• Tip Top Bio-Control (US)
• Evergreen Growers Supply, LLC (US)
• Anatis Bioprotection (Canada)
• GrowLiv Biologicals (Canada)
• Planet Natural (US)
• Natural Pest Controls (US)
• KUNAFIN (US)
• IPM Laboratories, Inc. (US)
• Nature's Control (US)
• Associates Insectary (US)
• Bugs For Bugs (Australia)
• Rincon-Vitova Insectaries (US)
• Harmony Farm Supply & Nursery (US)
• FAR INC (US)
• Organic Control, Inc. (US)
• Eco Bugs India Private Limited (India)
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Market Dynamics:
Drivers-
One of the essential aspects fueling the growth of the market for beneficial insects is the rise in environmental concerns worldwide. The increased demand for pest-specific biocontrol agents and the increased focus on agricultural productivity and better food grain quality are driving the market's expansion. The growth in regulatory demands and negative impacts associated with synthetic plant protectants, as well as the increased usage of beneficial insects to combat pests and other bacteria that may harm crops naturally, all impact the market. Additionally, the market for beneficial insects is positively impacted by the growing trends in organic farming, precision farming, and investment.
Challenges:
Unlike traditional animal feed products, the insect feed industry faces problems like commercial-scale production. However, due to the market's increasing demand on a global scale, significant factors, such as new investments by private venture capital (VC) firms in the insect feed market, were identified over the study period. For instance, KeyyakVenture, a venture capital firm based in Chile, invested USD 4.5 million in Food for the Future (F4F), a start-up that produces insect feed and is based in Chile, in June 2021. As a result, the increasing investments made by major VC firms show their support for strengthening this sector. The insect feed market is also driven by insects' high feed conversion ratio, little spatial needs, favourable regulatory framework, etc.
Regional Trends:
The North America Beneficial Insects market is expected to register a major market share and is projected to expand at a high CAGR shortly. The largest producer and consumer of beneficial insects worldwide is found in North America. On the other hand, Latin America is anticipated to experience the fastest increase during the forecast period. Additionally, Europe is a significant market for beneficial insects, accounting for more than one-third of global demand. Beneficial pesticides are also being used more frequently in a variety of areas in the Middle East, Africa, and Asia Pacific.
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Recent Developments:
• In September 2022, Aspire Food Group, a Canadian company famous for its cutting-edge insect agricultural and Food Technology, and Lotte Confectionery, a leading South Korean snack and ice cream manufacturer, signed an MOU to collaborate in the fields of protein alternatives and edible insects.
• In April 2022, 18 edible insect businesses received services worth EUR 460,000 (USD 496,600) from the ValuSect consortium of European insect manufacturers. The chosen companies will receive assistance from knowledgeable partners as they develop their cutting-edge concepts, which will increase insect production and consumer acceptance in North-West Europe.
Segmentation of Beneficial Insects Market-
By Type-
• Parasitoids
• Pollinators
• Pathogens
• Predators
By Crop Type
• Flowers & Ornamentals
• Fruits & Vegetables
• Grains And Pulses
By Application-
• Crop Production
• Crop Protection
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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InsightAce Analytic Pvt. Ltd.
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