The integrated pest management market is expected to grow at a compound annual growth rate of 5.94% over the forecast period to reach a market size of US$160.145 billion in 2027, from US$106.897 billion in 2020.
Integrated pest management involves the application of various methods, including biological, chemical, cultural, and physical control, etc., to get rid of pests like weeds, pathogens, vertebrates, invertebrates, and such.
The pest attacks in the agriculture field are responsible for the large-scale ruining of crops that give rise to economic damage to the owner. Pest management has turned out to be an efficient solution to safely procure the crops by efficiently handling the pest attacks. Besides that, rising awareness about chronic diseases caused by these pests is expected to drive the market in the future and increase its residential and industrial applications. The rising population demands more food, which is possible only when fields are provided with the necessary protection. With the rise in technological advancements and increasing government expenditure, integrated pest management has become quite necessary, especially regarding food safety.
A few of the major restraints for the market are high cost and lack of knowledge to properly implement the required pest solutions, which can hamper its market growth in the future.
Effective pest control and management have become essential, especially due to the potential loss of crops and financial damage accompanied by it. Pest attacks are responsible for both direct and indirect damage to the crops. Direct damage is when the pest injures the plants by eating them up, whereas indirect attack refers to the bacterial or fungal infection caused by the pests. In integrated pest management, monitoring and correct pest identification can help to curb the problem with greater effectiveness. Climate change poses a major threat to food security and the environment as pest attacks that destroy economically essential crops are increasing at a ravaging rate. As reported by the Food and Agriculture Organization of the United Nations, pests like fall armyworm, Tephritid fruit flies spread increasingly during warm weather, and the world's most destructive migratory pest: desert locusts, are expected to change their migratory routes due to climate change. Recently, it has been reported that of 1.06 lakh acres of land attributed to the red chili crop, around 70,000-80,000 acres have been damaged in parts of Telangana, India, due to invasive pest attacks. These alarming rates are expected to drive up the demand for integrated pest management in the coming years.
With the growing health awareness and wide-scale adoption of hygiene practices, people have become more conscious about the effects of pests not just in agriculture but also in their homes, industries, etc. Pests such as mosquitoes, ticks, rodents, bacteria, viruses, prions, and cockroaches can cause serious and even fatal diseases like Zika virus, Lyme disease, rabies, allergies, and microbial diseases.
To control the spread of these chronic diseases, integrated pest management has turned out to be the best solution.
A few of the restraints for the growth of the integrated pest management market is the high price associated with the products and services, which makes it unaffordable, especially to the low-income farmers who can barely make out of their earnings. Besides that, lack of knowledge regarding the application of a specific technique and that too only after monitoring and analyzing the situation is also expected to pose a restraint to the market growth.
Impact of COVID-19 Pandemic on the Integrated Pest Management Market:
With the outburst of the coronavirus pandemic across the globe, integrated pest management, especially in the agriculture sector, suffered negatively. This was attributed to several reasons, including a shift in government priorities to handle the COVID-19 along with a reduction in the supply of plant protection products due to a sudden surge in demand for these products. Besides that, lack of labor due to various government restrictions hampered the IPM activities -- such as field activities for pest management, capacity development initiatives, etc.
However, with the increase in pest control management and hygiene practices, especially after the COVID, the demand for integrated pest management is expected to increase in the future.
|Market size value in 2020||US$106.897 billion|
|Market size value in 2027||US$160.145 billion|
|Growth Rate||CAGR of 5.94% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Pest Type, Control Method, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF SE, Rollins Inc., SGS S.A., Terminix International Company L.P., Advanced IPM, Ecolab Inc., Rentokil Initial plc, Bayer Crop Science LP, Suterra LLC, Dodson Pest Control, Massey Services, Cook’s Pest Control|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the integrated pest management market size by 2027?
A1. The integrated pest management market is expected to reach a total market size of US$160.145 billion in 2027.
Q2. What are the growth prospects for the integrated pest management market?
A2. The global integrated pest management market is expected to grow at a CAGR of 5.94% during the forecast period.
Q3. What is the size of the global integrated pest management market?
A3. Integrated Pest Management Market was valued at US$106.897 billion in 2020.
Q4. How is the integrated pest management market segmented?
A4. The integrated pest management market has been segmented by pest type, control method, application, and geography.
Q5. What factors are anticipated to drive the integrated pest management market growth?
A5. The rising awareness about chronic diseases caused by these pests is expected to drive the market in the future and increase its residential and industrial applications.
Terminix International Company L.P.
Rentokil Initial plc
Bayer Crop Science LP
Dodson Pest Control
Cook’s Pest Control
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