Pune,India, Oct. 28, 2022 (GLOBE NEWSWIRE) -- The global pheromones market size was valued at USD 3.18 billion in 2021 and USD 3.66 billion in 2022. It is projected to reach USD 10.78 billion by 2029 at a CAGR of 16.67% during the forecast period. The market is anticipated to progress due to the increase in sustainable agriculture practices to protect crops from pests. Fortune Business Insights™ stated this in a report titled, "Global Agricultural Pheromones Market, 2022-2029."
COVID-19 Impact:
The inclination of Individuals toward Organic food Products Promotes Market Growth
A notable impact of the COVID-19 pandemic is observed in the global pheromones market growth. Due to the low availability and high price of pesticides, the market experienced a significant loss during the initial phase of the outbreak. Furthermore, the inclination of individuals during the onset of COVID-19 toward healthy and organic food products to maintain health and improve immunity results in a favorable influence on the industry.
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List of the Companies Profiled in the Pheromones Market Report are:
- Russell IPM (U.K.)
- Shin-Etsu Chemical Company (Japan)
- Isagro S.p.A. (Italy)
- Biobest Group (Belgium)
- SEDQ Healthy Crops SL (Spain)
- ISCA Global (U.S.)
- Suterra LLC (U.S.)
- Provivi, Inc. (U.S.)
- Koppert Biological Systems (Netherlands)
- Pacific Biocontrol Corporation (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 16.67% |
| 2029 Value Projection | USD 10.78 Billion |
| Base Year | 2021 |
| Agricultural Pheromones Market Size in 2022 | USD 3.66 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 185 |
| Segments Covered | By Type, By Function, By Application |
| Pheromones Market Growth Drivers | Increasing Adoption of Integrated Pest Management Practices to Bolster Market Growth |
| Increasing Awareness Regarding Detrimental Effects of Synthetic Pesticides to Drive Market Growth |
Segments-
Growing Trend of Non-Toxic Substitutes Spurs the Sex Pheromones Segment
On the basis of type, the market is classified into aggregation pheromones, sex pheromones, and others. The sex pheromones segment will dominate due to its application of being non-toxic to humans and animals.
Growing Use of Automation Surges Demand for Detection & Monitoring
In terms of function, the market is categorized into detection & monitoring, mass trapping, and mating disruption. The detection &d monitoring segment will rule due to the growing use of automation techniques to protect crops from insects.
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Growing Need for Bioactive Compounds Will Amplify the Product Need
Based on application, the market is fragmented into traps, spray method, and dispensers. The dispensers segment will lead due to its properties such as not excreting active ingredients, being non-toxic in nature, and can easily be used in the field.
High Demand for High-Value Horticulture Crops Spurs the Orchard Crops Segment
In terms of crop type, the market is segregated into vegetables, field crops, orchard crops, and others. The orchard crops segment will gain traction as they are extensively cultivated to produce nuts and fruits.
Report Coverage
The report provides insights into the regional analysis covering different regions, contributing to the market's growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market of agricultural pheromones. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market's growth.
Drivers and Restraints
Growing Concerns for Food Safety to Stimulate Product Demand
The growing concerns for food safety are driving the use of pheromones in the food production sector. Furthermore, adopting Integrated Pest Management (IPM) practices has considerably stimulated the current scenario of agricultural practices across the global community. This ensures a reduction in costs and maximization of the profits. Furthermore, the rising spending on research trials in finding more applications of pheromones to reduce the impact of toxic chemicals has raised the demand for the product. Meanwhile, the high production costs associated with it could impede the agriculture pheromones market growth.
Regional Insights
Growing Government Initiatives Nurture the Market Growth in North America
North America held the prominent global pheromones market share and is expected to lead the global market during the forecast period due to growing government initiatives to encourage the utilization of sustainable agrochemicals for crop protection.
Stakeholders have projected decent growth in Asia Pacific during the forecast period due to the integration of cost-effective active ingredients in the crops to improve the product's effectiveness and reduce the overall manufacturing cost of the product.
The Middle East & Africa is expected to showcase significant growth due to the rising awareness regarding the benefits of semiochemicals in adequate crop protection.
Competitive Landscape
The partnership among Key Players to Develop Sustainable and Organic Products
Leading companies of agricultural pheromones, such as Provivi Inc., Biobest Group NV, Russell IPM, Koppert Biological Systems, and SEDQ Healthy Crops SL, will likely invest in product rollouts and strategic expansion to expand their geographical presence by adopting a sustainable agricultural solution. With soaring investments in innovation, the key players are trying to develop efficient, sustainable, and organic products to offer safe crop protection solutions.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/agricultural-pheromones-market-100071
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of Pestcides Market
- Analysis on Agrochemical Use Trend
- Supply Chain Analysis
- Regulatory Analysis
- Overview on Different Types of Traps
- Techological Advancement
- Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market during the Global Crisis
- Global Pheromones Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Sex Pheromones
- Aggregation Pheromones
- Others
- By Function (Value)
- Mating Disruption
- Detection and Monitoring
- Mass Trapping
- By Application (Value)
- Dispensers
- Traps
- Spray Methods
- By Crop Type (Value)
- Field Crops
- Orchard Crops
- Vegetables
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
- North America Pheromones Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Sex Pheromones
- Aggregation Pheromones
- Others
- By Function (Value)
- Mating Disruption
- Detection and Monitoring
- Mass Trapping
- By Application (Value)
- Dispensers
- Traps
- Spray Methods
- By Crop Type (Value)
- Field Crops
- Orchard Crops
- Vegetables
- Others
- By Type (Value)
TOC Continued…!
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Key Industry Development:
July 2022: A Hyderabad-based company, ATGC Biotech Pvt Ltd, introduced its new pheromone CREMIT PBW with an aim to provide area-wide pest management solutions abroad and in India using synthetic pheromones.
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