Beauveria Bassiana Insecticide Market Size, Share, Growth, and Industry Analysis, By Type (Liquid and Powder), By Application (Agriculture and Forestry) and Regional Forecast to 2032

BEAUVERIA BASSIANA INSECTICIDE MARKET REPORT OVERVIEW

The global beauveria bassiana insecticide market size was USD 80.86  million in 2023 and the market is projected to touch USD 99.43 million by 2032, exhibiting a CAGR of 3.0% during the forecast period.

Beuveria bassiana is an entomopathogenic fungus, which works as bio insecticide instead of a chemical one. Found in soils all over the world, it parasitizes numerous classes of arthropods and produces the disease “white muscardine”. It is zoopathogenic and benignant upon contact of spores with a receptive insect, the spores germinate and mucor penetrates the cuticle, toxins are liberated that impair the insect’s immune response and sap nutrients leading to death. The infected insect turns white due to the growth of new mould spores, which continue to appear on other insects. This cycle makes beauveria bassiana especially useful in controlling pests such as aphids, whiteflies, termites, thrips and beetles.

The application of beauveria bassiana does not only encompass pest control in agricultural farms, but it also exhibits potential when it comes to killing bed bugs and mosquitoes transmitting malaria. It is used in the form of wettable powders or emulsified suspensions on crops or as treated mosquito nets. Another advantage is the highly specific action whereby it affects only pests but has minimal harm to most beneficial insects although care is recommended especially when there are pollinators nearby. Being bio-insecticides, beauveria bassiana assists in minimizing the problem of pesticide resistance and fits well into Integrated Pest Management (IPM). Its versatility and non-reliance on chemicals also make the product a great asset when it comes to reducing the environmentally damaging effects brought about by pest infestations in different environments.

COVID-19 Impact: Pandemic leads to disruption of value and supply chain that limited the market

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The breakout of the pandemic led to strong restrictions on business operations across various sectors, thereby affecting the market for beauveria bassiana insecticide. Shifts in value and supply chain led to imbalances in supply and demand for these biopesticides. Production and distribution problems such as manufacturing delays, transportation limitations and labour shortages affected the supply to the markets. Furthermore, the limited agricultural activities throughout the pandemic also affected the demand for biopesticides. These supply chain disruptions not only caused delays in product availability but also affected the prices and accessibility for farmers and agricultural professionals who required beauveria bassiana for pest control.

LATEST TRENDS

"Increasing consumer demand for organic food products to boost the market"

The increasing consumer awareness and the emergence of a desire to obtain organic food products are the principal factors boosting the beauveria bassiana insecticide market. With the changing perception of the public, there is now a higher demand for organic foods that contain no artificial chemicals either in food safety or environmental friendliness. This shift is causing farmers and agricultural producers to look for more natural and environmentally friendly pest control products such as beauveria bassiana that comply with organic farming techniques. Being selective for pests but non-lethal to beneficial insects and environmentally friendly due to its absence of chemical residues, the fungus would be perfect for use in organic farming. This preference for organic food is not only influencing the demand for the products based on beauveria bassiana but also stimulating more research and development on the usage of sustainable biopesticides rather than chemical ones.

BEAUVERIA BASSIANA INSECTICIDE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Liquid and Powder.

• Liquid: Liquid formulations of beauveria bassiana are favoured in the market due to their versatility in application methods such as foliar spraying, soil drenching and seed treatment. Their ease of use, uniform coverage and ready-to-use convenience enhance pest control effectiveness, making them a preferred choice for sustainable agricultural practices.
• Powder: Powder formulations of beauveria bassiana are valued for their adaptability and longer shelf life, making them ideal when liquid applications are impractical. Easily mixed with water, they suit various pest control strategies including organic farming. Their stability and effectiveness in targeting specific pests ensure their continued relevance in the market.

By Application

Based on application the global market can be categorized into Agriculture and Forestry.

• Agriculture: These include beauveria bassiana which may be used in agricultural fields for controlling pests such as the aphid, the whitefly and the caterpillar hence leading to better crop status and production. Its environmentally friendly approach suits the market demand towards the use of organic farming. It applies as part of IPM practices and it enhances the production of fruits vegetables and ornamental crops for pest control.
• Forestry: In forestry, the fungal species are employed as biocontrol agents to manage pests such as wood borers and bark beetles that pose great danger to forest resources. Its use of cuts on chemical insecticides safeguards beneficial insects and works on ecosystem recovery, making it an effective tool in sustainable practices. However, with the increasing demand for green products, the use of ITS in forestry is on the rise.

DRIVING FACTORS

"Growing importance of better and more sustainable farming practices to propel the market"

The growing importance of sustainable and organic use of chemicals in agriculture is expected to provide a stiff push for the global beauveria bassiana insecticide market growth. Due to the even stricter standards that consumers are adopting in the purchase of foods that are safe and have no residues, as well as the increasing environmental consciousness among consumers, farmers are in search of organic pesticides. Beauveria bassiana is an endophytic biopesticide that was discovered to fit this role because it has relatively innocuous effects on the environment and can eliminate pests. This fungus affects different pests without affecting other beneficial insects or leaving toxic chemicals behind, which makes its usage favourable for organic farmers. The fact that it is compatible with sustainable farming principles makes it popular since farmers want to improve plant health while reducing harm to the environment. The synchronizing with the increasing sustainability trends is helpful in the increased adoption and utilization of beauveria bassiana, hence propelling its market.

"Increased awareness and education of the biopesticides to expand the market"

The beauveria bassiana insecticide market remains underdeveloped but has great potential as more and more agri-business players embrace biocontrol agents and biopesticides. Increasing awareness of the advantages of beauveria bassiana including its non-toxicity, ability to effectively target many pests and its friendly effects on other non-target organisms is creating demand. Awareness campaigns, such as training, sessions and public health programs are essential in the dissemination of information on the benefits of its use and correct application. It assists farmers and agronomists in learning how to include beauveria bassiana in pest management optimally hence promoting its use. With increased awareness regarding the advantages and usage of beauveria bassiana, there would be an increase in its demand essentially leading to market growth and helping in promoting sustainable farming.

RESTRAINING FACTORS

"Counterfeit products pose a big threat to market expansion"

Counterfeit products pose a huge limitation to the expansion of the beauveria bassiana insecticide market, especially in the developing world. The products which are counterfeit mimic genuine biopesticide products in the market but the products they contain are not as effective as the genuine beauveria bassiana products and may be unsafe to use in treating pests, thus posing a potential danger to crops and humans. Counterfeit products erode consumer trust and hinder the adoption of approved biopesticides, as the wider public is more probably to associate such products with unregulated imitations. This issue also affects the push and development of quality beauveria bassiana solutions in the market. This has prompted stakeholders to work harder in ensuring that they employ measures to curb the manufacture of these fake products, improve the regulatory framework as well as put efforts into making the public aware of how they can identify fake products. It is crucial to tackle these counterfeit challenges to help promote market expansion and to guarantee that beauveria bassiana is a reputable pest control solution.

BEAUVERIA BASSIANA INSECTICIDE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America dominate the market due to the presence of key players and distribution channels"

North America is the leading region in the global beauveria bassiana insecticide market share as influenced by dominant companies and effective distribution channels. Large enterprises located in the region have played a crucial role in attaining market dominance via research and development and promotion of beauveria bassiana formulations. Such dominant positions in markets guarantee high quality and ongoing development, increasing product effectiveness while increasing confidence in farmers. Moreover, North America has a developed distribution network, thus making it possible for these biopesticides to be distributed to the different agricultural industries with ease. The smooth integration of these distribution channels enables timely delivery of the products and wide utilization among farmers hence preferring the use of beauveria bassiana in pest control. With influential players and comprehensive networks, North America has secured a leading position in the market.

KEY INDUSTRY PLAYERS

"Key industry players are focusing on product customization and diversification of insecticides to penetrate the market"

The key industry players are focusing on product customization and diversification of insecticides made from beauveria bassiana. This strategy focuses on the creation of formulations which are unique to pesticides for certain pests or formulations, which are tailored to the specifics of the different crops, meeting the requirements of various agricultural industries. Through more development and research of a single product to target specific pests or improve compatibility, companies can then provide better solutions for specific problems farmers have to face. This approach not only fulfils a variety of needs for different applications in agriculture but also differentiates their product portfolios from those of their competitors. Therefore, specialized and differentiated beauveria bassiana products help firms increase their market competitiveness, attract more consumers and advance the development of the market.

List of Market Players Profiled

• BioWorks (U.S.) 
• Certis U.S. (U.S.)
• BuildASoil (U.S.) 
• Vanda Technology (U.S.)
• BASF (Germany)
• Koppert B.V (Netherlands) 
• Bioquirama SAS (Colombia) 
• Troy BioSciences (U.K.)
• FILNOVA (Italy)
• Tianren (China) 
• Tari Bio-Tech (India) 
• M. D Agrotech (India) 
• T.STANES (India) 
• Multiplex Group (India)

INDUSTRIAL DEVELOPMENT

October 2023: BioWorks has introduced EpiShield™, which is a powerful miticide/insecticide suitable for both greenhouses and field crops. EpiShield offers ease of use with 10-28x lower use rates than other oils, no REI or PHI restrictions, and a 53% higher mortality rate against pests. Its liquid formulation, containing clove oil and peppermint oil, is ideal for quick spot treatments and supports IPM programs with minimal risk of resistance.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.