Integrated Pest Management (IPM) Market Size is USD 111.86 Billion at a CAGR of 5.9% by 2028
Increasing preference for organic farming and advancements in farming technology are key factors driving market revenue growth
The global Integrated
Pest Management (IPM) market size is
expected to reach USD 178.27 Billion in 2028 and register a CAGR of 5.9% over
the forecast period, according to the latest report by Reports and Data. Major
factors driving market revenue growth are increasing preference for organic
farming and rising awareness of different diseases caused by harmful insects.
In addition, rising concerns about adverse effects of pesticides and increasing
investments by governments and private investors globally in development of
eco-friendly pest control systems is expected to drive market revenue growth in
the near future.
Integrated Pest Management (IPM) Market Demand:
The demand for
integrated pest management (IPM) is increasing due to growing concerns over the
use of traditional pest control methods, such as chemical pesticides. IPM is
considered a more sustainable and environmentally friendly approach to pest
control, as it emphasizes the use of natural and biological controls to manage
pests. The agriculture sector is the largest user of IPM and is expected to
drive market growth, due to increased demand for food safety and the need for
more sustainable food production methods. The increasing demand for IPM in
urban areas, such as parks and recreational areas, is also contributing to the
growth of the market. The Asia-Pacific region is expected to be a major
contributor to the growth of the IPM market due to the increasing population,
urbanization, and the growing demand for food.
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Top Companies: 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.
Further Key Finding from the Report
Suggestion:
·
In May 2021, Oxitec
launched Friendly, a genetically modified fall armyworm technology. It is a new
sustainable and safe integrated pest management technology that helps farmers
to manage destructive pests more efficiently. It will be deployed in commercial
corn fields in Brazil, followed by approval from CTNBio.
·
Invertebrates segment
accounted for the largest revenue share in global market in 2020. Rising
concerns regarding the harmful effects of various diseases caused by
invertebrates such as ants, flies, caterpillars, and, cockroaches would boost
growth of this segment.
·
North America is
expected to register significant revenue growth over the forecast period.
Rising investment by private investors in advanced pest control activities, advancement
in farming technology, and presence of key market players are major factors
driving revenue growth of the market in this region.
Market Overview:
Consumers are placing a higher importance on
sustainability and, as a result, are choosing items based on factors like
circularity and carbon footprint. Furthermore, consumer concern about carbon
emissions has prompted increased investment in renewable energy, energy
efficiency, and transportation decarbonization. These developments have had
considerable impact on chemical end sectors, particularly in the automobile and
construction industries. COVID-19 has exacerbated the situation by lowering the
automobile and construction industries (as well as many others) and disrupting
current supply lines.
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The global Integrated Pest Management
(IPM) market is segmented into:
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:
- North
America (U.S.A., Canada, Mexico)
- Europe (Italy,
U.K., Germany, France, Rest of Europe)
- Asia
Pacific (China, India, Japan, South Korea, Australia, Rest of
APAC)
- Latin
America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle
East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of
MEA)
Key Questions Addressed in the Report:
- What
are the dominating factors that are influencing the growth of the
industry?
- In
the forecast period, which market segment is expected to rise the most?
- What
are the risks and challenges that the industry is facing?
- In
the coming years, which area is projected to dominate the market?
- Who
are the major players in the market?
- What
kind of strategic business plans have they made?
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