The global integrated pest management market value is anticipated to reach USD 151.0 billion by 2025, according to a new report by Grand View Research, Inc. Favorable regulatory scenario banning the usage of pesticides and growing concerns regarding the diseases caused by insects are anticipated to favor industry growth.
IPM program is a systematic approach used for solving insect, weed, & diseases problems and prevent them from damaging crops, infesting buildings, & harming animals. It is the most effective and least-risk options for responding to the problem. The approach can be used to manage all kinds of incest anywhere such as in urban, wildland, agricultural, and natural areas.
The rising concern over harmful effects of pesticides on the environment is likely to enhance the popularity of the product. Some of the major application sectors of the industry include agriculture, commercial buildings, industrial, residential, and others. Agricultural is the largest application segment and is expected to follow the same growth trend over the forecast period, owing to its usage in controlling and preventing the incests from crops.
Invertebrates have emerged as the largest segment in 2016 followed by weeds, pathogens, and vertebrates. Change in climate conditions and rising temperature is anticipated to be the major factor for the growth of invertebrate. Invertebrates are generally the household incest including ants, cockroaches, flies, and caterpillars. They can harm the household farming thus leading to infect human health and environment. The IPM program and training may help in mitigating the risk of invertebrate control with reducing the utilization of chemicals and increasing efficiency.
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Further key findings from the report suggest:
- The global demand for integrated pest management market was valued at USD 91.8 billion in 2016. The market is anticipated to grow to USD 151 billion by 2025, growing at a CAGR of 5.8% from 2017 to 2025.
- Chemical control approach dominated the market in 2016 followed by mechanical & physical, biological, cultural, and others method.
- Agricultural is largest application segment and is projected to follow the same growth trend over the forecast period.
- The North America and Europe region was the largest regional market with a combined share of over 56%.
- Asia Pacific region is anticipated to have the fastest growth. the region is projected to grow at a CAGR of 6.4% from 2017 to 2025.
- The industry is dominated by a few multinational corporations such as BASF SE, Advanced Integrated Pest Management, IPM Pest Control, SGS SA, MB Integrated Pest Control, Bayer CropScience LP, Ecolab Inc., IPM Technologies Pty Ltd, and Integrated Pest Management Solution (IPMS India).