
Report ID: UCMIG30H2092
SkyQuest Technology's Beneficial insects market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Beneficial Insects Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.
The beneficial insects market is expected to experience substantial growth, with a projected value of USD 1,630 million by 2028, compared to its 2023 value of USD 877 million, representing a compound annual growth rate (CAGR) of 13.2%. This growth is primarily attributed to growing concerns about the adverse environmental impacts associated with chemical pesticides, which are known to be harmful to both plants and animals. Beneficial insects and mites, which play a pivotal role in controlling pest populations through predation and parasitism, are gaining prominence due to their eco-friendly nature.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Agricultural Products by segment aggregation, the contribution of the Agricultural Products in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30H2092
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