The North America Beauveria Bassiana Market would witness market growth of 7.5% CAGR during the forecast period (2024-2031).
The US market dominated the North America Beauveria Bassiana Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $40,115.2 Thousands by 2031. The Canada market is experiencing a CAGR of 9.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.9% during (2024 - 2031).
The fungus’ ability to target specific pests without harming the plants makes it ideal for these high-value crops, where precision and pest control are crucial. In IPM systems, This fungus is employed alongside other biological, physical, and chemical controls to create a holistic pest management strategy. Its use in IPM helps balance pest populations while reducing reliance on synthetic pesticides.
In addition, applying this fungus to the soil not only controls soil-dwelling pests but also contributes to soil health. The fungus helps enhance soil biodiversity and can reduce soil-borne pathogens, promoting soil fertility and plant health. In urban and peri-urban agriculture, where space and environmental impact are significant considerations, this fungus provides an eco-friendly pest control solution. Its use in community gardens and urban farms helps maintain pest control while aligning with green practices.
Canada’s vast forested areas face substantial pest challenges due to their size and diversity. Effective pest management solutions like this fungus are crucial to protect these expansive forest lands from damaging insects and diseases. According to the government of Canada, over 90% of forests in Canada are on public land; 7% are under private ownership. Approximately 45% of forests on public land are managed for forestry. Furthermore, as California's agriculture sector grows to meet export demands, there is a corresponding increase in adopting this fungus. As per the California Department of Food and Agriculture, agricultural exports from California reached $22.5 billion in 2021, marking a 7.0 percent increase from 2020. Sales of organic products in California amounted to $14.0 billion in 2021, up 16.4 percent from the previous year. The state's organic production spans over 2.13 million acres. In conclusion, the region's high land mass for forestry and increasing agricultural exports are driving the market's growth.
Free Valuable Insights: The Beauveria Bassiana Market is Predict to reach USD 152.7 Million by 2031, at a CAGR of 8.1%
Based on Distribution Channel, the market is segmented into Indirect Sales, and Direct Sales. Based on Application, the market is segmented into Agriculture, Forestry, and Others. Based on Type, the market is segmented into Liquid, Powder, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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