PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284062
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284062
According to Stratistics MRC, the Global Integrated Pest Management Market is accounted for $19.34 billion in 2022 and is expected to reach $31.91 billion by 2028 growing at a CAGR of 8.7% during the forecast period. Integrated pest management is a methodical approach to tackling issues such as agricultural damage, building infestations, animal injuries, and other pest-related issues present in farming and agribusiness. It is the most economical and low-risk option for solving the issue. All forms of incest in urban, wild land, agricultural, and natural assets can be managed using this technique. It promotes sturdy construction, thriving vegetation, and bio-based, ecologically friendly pest control methods. The integrated pest control approach seeks to keep the pest population below the level that causes economic damage.
According to the Royal Society of Chemicals, about 800 chemically active substances have been registered for use as crop protection treatments across the world. These substances are classified generically as herbicides, fungicides, and insecticides.
The main application of integrated pest management in agriculture is crop protection. By shielding crops from pests, diseases, and weeds and increasing productivity per hectare, it enables farmers to produce more food on a smaller amount of land. In agriculture, developments in cutting-edge technologies increase crop output and longevity. The goal of genetic engineering is to increase agricultural productivity and lifespan. Crop production is rising as more novel and inventive crop varieties are adopted. The most frequently sprayed crops in the cereals and grains industry are corn, rice, and wheat. Since grains are grown in almost every nation, pesticides are widely used in agriculture. Considering the rise in grain production and consumption, it is now more important than ever for growers to concentrate on quality and production by using efficient insecticides.
IPM is more expensive up front than conventional pesticide-based techniques, which may be prohibitive for small-scale farmers or those with low finances. When they have been employing the same tactics for a long time, farmers may be reluctant to accept new ones. This might make it challenging to put IPM practices into practice, even when they have been proven to be successful. IPM practices can be promoted and farmers can receive resources and training by means of government policies and programs. Government assistance for the adoption of IPM may, however, be limited in some regions. Farmers in some regions might not have access to the tools-such as biological control agents, pheromone traps, or other pest monitoring tools-necessary to execute IPM procedures.
AI developments in agriculture demonstrate benefits for yield growth and crop development. For instance, an AI program can forecast when a product, like a tomato, will be ready for picking, which improves farming efficiency. To manage and monitor the health of crops, predictive analyzers and agricultural robots use sophisticated algorithms and the data they gather. Future population expansion will increase food demand, necessitating a minimum of 75% growth in agricultural productivity to meet this demand.
Planning and expertise in a variety of sectors are necessary for the proper execution of integrated pest management (IPM). The global Integrated Pest Management (IPM) market's revenue growth is largely being held back by a lack of awareness and a shortage of experienced personnel in developing nations. Most biopesticides must be sprayed at precisely the right moment for them to be effective, some pheromones only attract male insects and can only lower pest populations when used widely, and grafting necessitates rather exact humidity management for the grafted seedlings. Knowledge of the technique's implementation, not just the practice itself, is necessary for its adoption. Cycles of growth may be disrupted. IPM plans are constantly being monitored, which can potentially cause anxiety in people. By overwatering or altering how frequently their potted plants receive sunshine, they run the risk of upsetting their sustainable plant ecosystems.
The COVID-19 pandemic epidemic had a favorable impact on the integrated pest control industry. This is because there is an increasing requirement for pest management and an increasing desire to increase the shelf life of fruits and vegetables. These elements significantly affected the integrated pest management market. The Integrated Pest Management market will continue to develop at a static trajectory despite the delayed recovery that is anticipated, according to the best-case scenario.
Integrated pest management methods seek to prevent pests from becoming a danger as invertebrates pests by managing the crop, yard, or interior area. This could involve applying cultural techniques including crop rotation, choosing pest-resistant varieties, and planting pest-free rootstocks in an agricultural crop. These methods of control can be extremely effective and economical, with little or no negative effects on people or the environment. To reduce the amount of harmful insect pests, invertebrate insect hormones are used as insecticides. When mixed with other pesticides, they kill adult insects. It prevents insects from maturing by interfering with the mounting process, which could be a major contributor in this segment's revenue growth.
Among other control techniques, biological control's popularity is rapidly rising. Insects are used as agents in the biological management strategy, which uses natural predators to target pests. They are being used more frequently because of how effectively they make pest organisms less numerous and hence easier to control. The process is a healthy substitute for chemical or mechanical procedures because it has no negative effects on the environment or human health. The agent aids in identifying and controlling pests after it is introduced into their environment. Natural enemies are also more cost-effective in the long term because they may be utilized for a lot longer than the agents used in other pest control techniques because they can support themselves and require little work. The need for biological controls is projected to be stimulated by the growing interest in natural and organic remedies, which will help the integrated pest management (IPM) market, expand throughout the forecast period.
In the global market over the forecast period, Europe accounted for the largest revenue share in global market. Rapid technological development and increasing preference for organic farming are some key factors expected to continue to drive market growth over the forecast period in this region, which is anticipated to contribute to the market's expected revenue growth. Major factors driving the demand for Integrated Pest are a rapidly growing population, increased demand for organic food, and rising health consciousness, which help the market for Integrated Pest Management develop in terms of revenue.
During the forecast period, North America is anticipated to grow strongly. In North America, integrated pest management is mostly employed in the industrial, commercial, and agricultural sectors to prevent and control insect problems. In addition, it is employed as an emulsifier in pesticides and herbicides, which are frequently applied in industrial, public health, and agricultural settings as well as to eradicate termites and roaches in homes. North America uses agricultural mulch films to control weeds, as well as screens to keep insects and birds out and soil steam sterilization to fight disease. Traps, screens, fences, nets, and obstacles are additional tools used in integrated pest management in North America.
Some of the key players in Integrated Pest Management market include ADAMA Ltd., Advanced Integrated Pest Management, AgBiTech, AgrichemBio, BASF SE, Bayer Crop Science Ltd, Ecolab Inc, FMC Corporation, Hercon Environmental Corporation, Integrated Pest Management Solutions India Pvt. Ltd., IPM Technologies Pty Ltd, MB Integrated Pest Control, Orkin LLC, Oxitec, Rentokil Initial plc, SGS SA, Shin-Etsu Chemicals, Sumitomo Chemical Ltd., Suterra LLC and Syngenta
In October 2022, Rentokil Initial plc completed the acquisition of Terminix Global Holdings, Inc. Completion of the Transaction marks the combination of two leading pest control businesses with a long cultural heritage, outstanding talent and strong focus on people, customers, delivering products and services responsibly, and benefiting society and the environment by acting in a responsible manner.
In May 2021, Oxitec launched genetically modified fall armyworm technology, Friendly. It is a new integrated pest management technology that helps farmers to manage destructive pests more efficiently and sustainably. CTNBio, the Brazilian government's regulatory agency approved this new technology for deployment on commercial corn fields.
In December 2020, Syngenta launched its new insect control technology, Spiropidion. It offers a new Integrated Pest Management (IPM) tool that allows farmers to protect crops from damaging sucking pests in an efficient and environmentally sustainable manner.