Integrated Pest Management Market Size, Share, Opportunities, And Trends By Pest Type (Weeds, Invertebrates, Pathogens, Vertebrates), By Control Method (Biological Control, Chemical Control, Cultural Controls, Mechanical & Physical Controls, Other Control Method), By Application (Agriculture, Commercial Buildings, Industrial, Residential, Others), And By Geography - Forecasts From 2024 To 2029

The integrated pest management market is evaluated at US$123.317 billion for the year 2022 growing at a CAGR of 6.56% reaching the market size of US$192.414 billion by the year 2029.

Integrated pest management involves the application of various methods, including biological, chemical, cultural, and physical control, to get rid of pests like weeds, pathogens, vertebrates, invertebrates, and such.

MARKET TRENDS:

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 crops by efficiently handling 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.

MARKET DRIVERS:

• Growth in pest attacks in agricultural fields is predicted to propel the market.

Effective pest control and management have become essential, especially due to the potential loss of crops and the 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, and 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.

• Chronic diseases caused due to pest infections.

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.

MARKET RESTRAINTS:

• High prices and lack of knowledge might constrain the market.

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, a 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.

North America is anticipated to be the major regional market.

Growing ecological concerns and knowledge of the effects of conventional pesticide usage on the environment are the main drivers of the Integrated Pest Management (IPM) industry in North America. Sustainable and ecologically friendly pest management solutions are in greater demand as businesses and consumers grow more concerned about the environment. The implementation of integrated pest management (IPM) approaches has been expedited by regulatory pressures and strict limits for the use of conventional chemical pesticides. Regulation-driven demands for substitute pest management techniques are encouraging the creation and application of integrated strategies that place a high priority on biodiversity and ecosystem preservation.

Key Developments:

• In September 2023, the Sustainable Farming Incentive (SFI) made Integrated Pest Management (IPM) planning a paid activity. To assist farmers in developing crop-specific IPM management plans, ADAS, NFU, SRUC, and Voluntary Initiative (VI) have created a free IPM Planning Tool.
• In January 2023, when BASF's AxalionTM Active, a revolutionary pesticide active ingredient that fights dangerous piercing and sucking insect pests, went on sale globally, Australia was the first market to experience it. Products containing axenoids are used in the production of fruits, vegetables, oilseed rape, cotton, soybeans, legumes, and grains.

Integrated Pest Management Market Scope:

Segmentation:

• By Pest Type
  • Weeds
  • Invertebrates
  • Pathogens
  • Vertebrates
• By Control Method
  • Biological Control
  • Chemical Control
  • Cultural Controls
  • Mechanical & Physical Controls
  • Other Control Method
• By Application
  • Agriculture
  • Commercial buildings
  • Industrial
  • Residential
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • México
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • U.K.
    • Germany
    • France
    • Others
  • Middle East and Africa
    •  Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Taiwan
    • South Korea
    • Others