PUBLISHER: Allied Market Research | PRODUCT CODE: 1472332
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472332
The global beauveria bassiana market was valued at $89.2 million in 2022, and is projected to reach $195.1 million by 2032, registering a CAGR of 8.4% from 2023 to 2032. Beauveria bassiana is a species of fungus known for its insecticidal properties, used in biological pest control. It naturally occurs in soils and infects various insect pests, including beetles, flies, and mosquitoes. This fungus penetrates the exoskeleton of insects, proliferates inside, and eventually kills the host. The fungus is commercially formulated into biopesticides, offering an eco-friendly alternative to chemical insecticides. Beauveria bassiana is favored for its specificity, targeting pests while sparing beneficial organisms. Its efficacy, environmental safety, and compatibility with integrated pest management strategies make it a valuable product in agriculture, forestry, and public health efforts to manage insect populations sustainably.
Rise in concerns among consumers over pesticide residue in food have significantly surged the market demand for beauveria bassiana as a safer and more sustainable alternative for pest control in agriculture. Consumers are becoming increasingly aware of the potential health risks associated with consuming food contaminated with chemical pesticides. Thus, there is a growing preference for food crops produced using eco-friendly biopesticides such as beauveria bassiana, as it offers a safer and more sustainable alternative to chemical pesticides, with minimal environmental impact and lower health risks. For instance, in countries such as China, the U.S., Argentina, Thailand, Brazil, Italy, France, Canada, Japan and India, intensive pesticide use has led to high levels of contamination in fruits and vegetables. As a result, consumers are seeking organic and pesticide-free options. Rise in demand for chemical free food has created a market demand for crops grown with biological pest control agents such as beauveria bassiana, which leave minimal residue and pose no harm to human health.
Furthermore, retailers and food companies are responding to consumer preferences by sourcing products from farmers who employ sustainable pest control practices, including the use of biopesticides. In addition, regulatory bodies are imposing strict limits on pesticide residues in food, further incentivizing farmers to adopt safer alternatives such as beauveria bassiana. As a result of these factors, the market for beauveria bassiana is experiencing significant growth as it aligns with the increasing consumer demand for safer and more environmentally friendly agricultural practices.
However, limited shelf life of beauveria bassiana products poses a significant restraint on market demand. Short product viability creates challenges in inventory management for suppliers and farmers, leading to potential financial losses arising from expired or ineffective products. Moreover, the perishable nature of beauveria bassiana limits the storage options, particularly in regions with inconsistent demand or access to refrigeration facilities. Farmers may hesitate to invest in products with uncertain longevity, preferring alternatives with longer shelf lives for better cost-effectiveness, thus hindering the growth of the beauveria bassiana market.
Increase in demand for sustainable agriculture solutions has fueled opportunities in the beauveria bassiana market. With a growing emphasis on reducing chemical inputs in agriculture to mitigate environmental damage and promote healthier ecosystems, beauveria bassiana has emerged as a convenient alternative for pest control. Beauveria bassiana fungus effectively targets a wide range of agricultural pests, including beetles, caterpillars, and aphids, while posing minimal risk to non-target organisms and the environment. As farmers seek eco-friendly alternatives to conventional pesticides, the demand for beauveria bassiana products has surged, creating a lucrative market for suppliers and manufacturers.
Moreover, the adoption of integrated pest management (IPM) practices further drives the demand for beauveria bassiana in agriculture. IPM emphasizes the use of multiple strategies, including biological control agents such as beauveria bassiana, alongside mechanical and chemical methods to manage pests sustainably. The IPM approach reduces reliance on synthetic pesticides and enhances the long-term efficacy of pest management efforts by promoting natural pest suppression mechanisms. As regulatory pressures and consumer preferences increasingly favor sustainable agricultural practices, the beauveria bassiana market is expected to continue its growth, offering opportunities for innovation and investment in the development and commercialization of biopesticide solutions.
The beauveria bassiana market is segmented into type, application, distribution channel, and region. By type, the market is segregated into liquid, powder and others. By application, it is segregated into agriculture, forestry, and others. Depending on distribution channel, it is categorized into indirect sales and direct sales. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, ASEAN, and rest of Asia-Pacific), Latin America (Brazil, Colombia, Argentina, and rest of Latin America), and Middle East Africa (GCC, South Africa, and rest of MEA).
The major players operating in the global beauveria bassiana market are BASF SE, Certis USA L.L.C., Filnova S.r.l., Tari- Biotech, T.Stanes and Company Limited, ARBICO Organics, Agrigem Ltd., Fargro Limited, Andermatt Group AG, and Novozymes A/S.
Key Benefits for Stakeholders
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)