Growth Opportunities in the Beneficial Insects (Macrobials) Market | Key Players are Dudutech Ltd., Koppert BV, BioBest NV, Applied Bio-Nomics Ltd., Bioline AgroSciences Ltd.

The beneficial insects (macrobials) market is projected to grow at a CAGR of 10.4% to reach USD 788.0 Million by 2022. The market growth is driven by the rising demand for organic food, need for food security for the growing population, advancement in farming practices and technologies, and heavy crop loss due to pest problems. The market is further driven by factors such as increasing demand for pest-specific bio control agents, along with increasing acceptance for Integrated Pest Management (IPM) by the farmers, and high opportunities in developing countries.

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The predators segment is projected to be the fastest-growing market during the forecast period

The predators segment is estimated to grow at the highest CAGR during the review period, as they feed upon many target pests/insects during their lifetime or during their development. Parasitoids are similar to parasites, which develop on the inside or outside of the host's body. Hence, pests targeted and eradicated by the application of predators is greater than the application of parasitoids who deteriorate a single host.

The crop protection accounted for a larger share

Crop protection products protect crops from the damage caused by insects, diseases, and weeds. Thus, these entities help in reducing the risk of loss of crop yield. Crop protection is one of the most research-oriented industries. Some of the leading players invest approximately 15% of their turnover in research & development. Chemical-based crop protection products do not provide sustainable solutions as they tend to cause loss of biological diversity and degradation of the physical-chemical quality of the environment. Hence, farmers have started preferring beneficial insects over chemical pesticides, which is expected to contribute to the overall demand for beneficial insects (macrobials) for crop protection.

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North American region accounted for the largest market share

North America is the largest market in the beneficial insects (macrobials) industry. Beneficial insects (macrobials) are one of the fastest-growing sectors of the crop protection market in North America. The demand for organic crop protection products in North America is rising due to the rising health and environmental concerns, among consumers. There has also been a significant push toward the consumption of organic products, as they do not contain synthetic chemicals that leave residues, which contribute to the growth of the beneficial insects (macrobials) Market in North America.

The key players identified in the beneficial insects (macrobials) market include Applied Bio-nomics Ltd. (Canada), Beneficial Insectary, Inc. (U.S.), Biobest NV (Belgium), Bioline AgroSciences Ltd. (U.K.), and Koppert B.V. (Netherlands). Along with these companies, the other players that have a strong presence in the agricultural macrobials market include Andermatt Biocontrol AG (Switzerland), ARBICO Organics (U.S.), BioBee Biological Systems Ltd. (Israel), Biological Services (Australia), Fargro Ltd (U.K.), IPM Laboratories, Inc. (U.S.), and TipTopBio-Control (U.S.).

The key market players have adopted strategies such as agreements, expansions & investments, acquisitions, and new product launches to increase their market presence and revenue generation of the companies. Leading players focus on strengthening their R&D proficiencies by capitalizing in advanced technologies and entering into R&D agreements with other companies to develop diversified product portfolio of beneficial insects (macrobials) products.

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