The latest report by Reports and Data reveals that the global market for Integrated Pest Management (IPM) is projected to reach USD 178.27 Billion by 2028, with a compound annual growth rate (CAGR) of 5.9% during the forecast period. The market's revenue growth is primarily driven by the increasing adoption of organic farming and growing awareness of diseases caused by harmful insects. Moreover, concerns regarding the adverse effects of pesticides and substantial investments by governments and private investors worldwide in the development of eco-friendly pest control systems are expected to further propel market growth in the near future.
Integrated Pest Management (IPM) is a systematic approach aimed at controlling and preventing insects while minimizing risks to the environment and human health. This approach involves integrating various methods based on collected information about the type and population of pests at a particular site. IPM is extensively utilized across diverse sectors such as agriculture, industrial, residential, commercial, and others.
The agricultural segment accounted for the largest share of revenue in the global IPM market in 2020. This can be attributed to the rising need to protect crops from insect damage and the growing demand for agricultural products, which are expected to drive revenue growth in this segment.
In terms of regional analysis, Europe held the second-largest revenue share in the global market in 2020. The region's revenue growth is sustained by the increasing preference for organic farming and rapid technological advancements in the industry.
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Key Highlights from the Report:
- In May 2021, Oxitec introduced Friendly, a genetically modified fall armyworm technology. This sustainable and safe integrated pest management solution aids farmers in efficiently managing destructive pests. Following approval from CTNBio, it will be deployed in commercial corn fields in Brazil.
- The invertebrates segment held the largest revenue share in the global market in 2020. The increasing concerns regarding the harmful effects of diseases caused by invertebrates such as ants, flies, caterpillars, and cockroaches are anticipated to drive the growth of this segment.
- North America is expected to exhibit significant revenue growth throughout the forecast period. Factors contributing to this growth include increased private investment in advanced pest control activities, advancements in farming technology, and the presence of key market players in the region.
Key Companies in the Market: BASF SE, Shin-Etsu Chemicals, Advanced Integrated Pest Management, IPM Pest Control, Suterra LLC, MB Integrated Pest Control, Bayer CropScience LP, Ecolab Inc., IPM Technologies Pty Ltd, and Integrated Pest Management Solution.
The report segments the Integrated Pest Management (IPM) market based on pest type, control method, application, and region:
Pest Type Outlook (Revenue, USD Billion; 2018-2028)
- Invertebrates
- Weeds
- Vertebrates
- Pathogens
Control Method Outlook (Revenue, USD Billion; 2018-2028)
- Biological
- Chemical
- Mechanical and Physical
- Cultural
Application Outlook (Revenue, USD Billion; 2018-2028)
- Industrial
- Agricultural
- Residential
- Commercial
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
Integrated Pest Management (IPM) Market: Drive factors
The Integrated Pest Management (IPM) market is driven by several factors that contribute to its growth and expansion. These key drivers include:
- Increasing preference for organic farming: There is a growing consumer demand for organic products, which has led to an upsurge in organic farming practices. IPM provides an effective and environmentally-friendly approach to pest control in organic farming, thereby driving the market growth.
- Rising awareness of diseases caused by harmful insects: The awareness regarding the health risks associated with harmful insects and pests has increased significantly. IPM offers a comprehensive and preventive approach to minimize these risks, leading to a higher adoption rate and driving market growth.
- Concerns about adverse effects of pesticides: Pesticides have been linked to environmental pollution and health hazards. As a result, there is a rising concern about the adverse effects of traditional pesticide usage. IPM offers a sustainable alternative by minimizing pesticide use and focusing on integrated pest control methods, leading to market growth.
- Government and private investments in eco-friendly pest control systems: Governments and private investors worldwide are increasingly investing in the development of eco-friendly pest control systems, including IPM. These investments drive research and innovation in the IPM market, leading to the introduction of advanced technologies and solutions.
- Growing demand from various sectors: IPM finds applications across multiple sectors such as agriculture, industrial, residential, commercial, and others. The increasing need for effective pest control solutions in these sectors, coupled with the advantages offered by IPM, fuels market growth.
Overall, the combination of factors such as the demand for organic farming, rising awareness of health risks, concerns about pesticide use, investments in eco-friendly solutions, and sector-specific requirements drives the growth of the Integrated Pest Management market.
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