— Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 19, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Beauveria Bassiana Market,” The beauveria bassiana market was valued at $89.20 million in 2022, and is estimated to reach $195.1 million by 2032, growing at a CAGR of 8.4% from 2023 to 2032.
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Beauveria bassiana is a naturally occurring filamentous fungus with biocontrol properties against insect pests. It thrives in soil ecosystems worldwide. The fungus infects and kills a broad spectrum of insects, including beetles, ants, and mosquitoes. It finds extensive use in agriculture, forestry, and urban pest management. The eco-friendly nature of beauveria bassiana makes it a sustainable alternative to chemical pesticides. It is effective against target pests and has minimal impact on non-target organisms.
Increase in demand for organic products in global markets has significantly boosted the growth of the beauveria bassiana industry. According to the Organic Trade Association (OTA), organic food sales in the U.S. exceeded $60.0 billion in 2022, which reached to a total of $61.7 billion. The trend of adopting organic food products all across the globe has shown significant impact on all sectors, including beauveria bassiana market share. As consumers globally become more conscious of their health and environmental impact, there is a growing preference for organic produce free from synthetic pesticides. Beauveria bassiana, being a natural and eco-friendly alternative to chemical pesticides, aligns perfectly with the principles of organic farming. Farmers are increasingly adopting this biopesticide to meet the stringent organic certification requirements and cater to the growing organic market, which has boosted the beauveria bassiana market growth.
Moreover, as organic agriculture expands globally to meet the rising demand, there is increase in demand for sustainable pest management solutions. Chemical pesticides are not permissible in organic farming, which drives farmers to seek effective alternatives such as beauveria bassiana, thus driving the growth of beauveria bassiana market size. The ability of beauveria bassiana to control a wide range of pests while being safe for beneficial organisms and leaving no harmful residues on crops makes it an attractive choice for organic farmers. Hence, surge in demand for organic products in global markets acts as a major driver for the growth of the beauveria bassiana market, strengthening its adoption in biopesticide formulations and applications.
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Temperature resistance challenges pose a significant restraint on the market demand for beauveria bassiana products during the beauveria bassiana market forecast. While beauveria bassiana is effective in controlling pests under certain temperature conditions, its efficacy can be compromised outside of its optimal temperature range. Beauveria bassiana exhibits optimal performance within a relatively narrow temperature window, typically between 20°C to 30°C. Outside of this range, the activity may decline, leading to reduced effectiveness in pest control. In regions with extreme temperature fluctuations or prolonged periods of high or low temperatures, such as tropical or desert climates, the efficacy of beauveria bassiana can be further challenged.
For instance, in parts of the Middle East and North Africa region, where temperatures frequently soar above 40°C during the growing season, the effectiveness of beauveria bassiana can be compromised. Similarly, in regions such as India, Southeast Asia, and Australia, which experience hot and humid climates, may encounter challenges with beauveria bassiana efficacy during certain periods of the year. In addition, seasonal variations in temperature can impact the demand for beauveria bassiana products, as its effectiveness may vary throughout the year. Consequently, farmers may opt for alternative pest control methods, such as chemical pesticides, in environments where temperature resistance limits the reliability of the market, thus restraining the beauveria bassiana market demand.
Investment in R&D for biopesticides has created numerous beauveria bassiana market opportunities in the market. As stakeholders recognize the drawbacks of chemical pesticides, there has been a growing emphasis on developing innovative and sustainable pest control solutions. This increased investment has fostered advancements in the formulation, application, and efficacy beauveria bassiana, driving the market growth in recent years.
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The research efforts are increasingly focused on enhancing the shelf stability and efficacy of beauveria bassiana formulations, making them more practical and cost-effective for farmers. Furthermore, R&D initiatives are exploring novel delivery mechanisms, such as encapsulation and microencapsulation, to improve the targeted delivery of beauveria bassiana to pest populations. These advancements increase biopesticides’ efficiency and address practical challenges faced by farmers, such as weather dependence and application logistics. As a result, the investment in R&D is expected to increase the adoption of beauveria bassiana in the biopesticide market, offering sustainable pest control solutions that align with evolving regulatory standards and consumer preferences for safer agricultural practices.
The beauveria bassiana market segmentation is studies on the basis of 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).
By type, the liquid segment dominated the global beauveria bassiana market in 2022 and is anticipated to maintain its dominance during the forecast period. The liquid segment has experienced growth owing to its ease of application and versatility in targeting pests across various agricultural settings compared to other formulations. Liquid formulations ensure uniform coverage and distribution, offering convenience for farmers. Ready-to-use liquid products simplify application, saving time and labor costs, contributing to their widespread acceptance and preference of this segment in the beauveria bassiana market.
By application, the agriculture segment dominated the global beauveria bassiana market in 2022 and is anticipated to continue the same trend during the forecast period, owing to the growth in demand for sustainable pest management solutions in farming. As farmers increasingly prioritize eco-friendly alternatives to chemical pesticides, beauveria bassiana market trends emerges as a preferred choice due to its effectiveness against various pests while posing minimal environmental risks. Its versatility in targeting a wide range of agricultural pests and compatibility with integrated pest management practices further strengthen its position as a key product in sustainable agriculture.
By distribution channel, the indirect sales channel segment exhibited the highest growth in 2022 and is anticipated to maintain its dominance during the forecast period. The indirect sales channel is the most preferred one owing to its extensive distribution networks and value-added services. Indirect channel, which includes distributors and retailers, leverage established connections to efficiently distribute beauveria bassiana products to diverse agricultural regions worldwide. Furthermore, these intermediaries offer crucial support services such as product promotion and technical assistance, which are essential in educating farmers and ensuring effective utilization of biopesticides.
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Region-wise, North America is anticipated to dominate the market with the largest share during the beauveria bassiana market analysis. The strong emphasis of North America on sustainable agriculture practices, stringent regulations on chemical pesticide usage, and growing consumer demand for organic produce have driven the adoption of beauveria bassiana in the past few years. In addition, established research and development infrastructure, along with vast distribution networks, support the availability and accessibility of beauveria bassiana products to farmers. Moreover, integrated pest management (IPM) initiatives promoted by government agencies and agricultural organizations further encourage the utilization of beauveria bassiana as a key component of pest control strategies in North America.
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 Findings of the Study
By type, the liquid segment was the highest revenue contributor to the beauveria bassiana market in 2022.
Depending on application, the agriculture segment was the dominating segment in the global beauveria bassiana market during the forecast period.
On the basis of distribution channel, the indirect sales channel was the major revenue generator in 2022.
Region-wise, Europe was the highest revenue contributor in 2022.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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