Increasing preference for organic farming and advancements in farming technology are key factors driving market revenue growth

Integrated Pest Management Market Size – USD 111.86 Billion in 2020, Growth – at a CAGR of 5.9%, Trends – Increasing global population

The global Integrated Pest Management 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 Market Demand:

The demand for Integrated Pest Management 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 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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