The global integrated pest management market value to reach $151 billion by 2025
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. The global integrated pest management (IPM) market size was worth USD 91.8 billion in 2016. Increase in pest population owing to climatic changes is resulting in various health problems, these factors are anticipated to boost the industry for IPM.
Biological, chemical, mechanical & physical and cultural are the major approaches adopted in the IPM program. Among these methods, chemical approach dominated the market in 2016. The method uses pesticides for the prevention and control of insects. Growing awareness about the harmful effect of pesticides and stringent regulations regarding its sale & usage is expected to be a major factor for the decrease in the demand of chemical approach over the forecast period. In the program, pesticides are used only when they are a need for its usage or in combination with other methods. Moreover, the selection and application of these chemicals are done in a way that reduces the possible harm to the surrounding environment, people, and non-target organisms.
The agricultural segment is the major application for the IPM industry. The application segment accounted for over 31% of the overall market in 2016. Companies present in the market are investing in the development of various products and approaches to control the problems caused by insects and various disease for different crop type. Usage of different products and methods instead of harmful chemical for protecting crops against pests is expected to boost application control approaches in the segment.
North America dominated the global industry with over 32% of the overall market revenue in 2016. The region is anticipated is grown at a CAGR of 6.1% from 2017 to 2025. The presence of global players and continuous investment in new product development by these players are the key factors for the regional growth. However, the regional market is at its maturity stage. The stringent regulations regarding the usage of various control approaches in the region are expected to restrict the use of some control methods.
The IPM market experiences the presence of established players. the industry is highly comparative and fragmented in nature. Some of the key players in the industry include 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). Global companies such as BASF SE and Ecolab Inc. are investing in research and development activities to develop new control approaches and products to increase their product portfolio.