New York (US), July 19, 2023 (GLOBE NEWSWIRE) -- Agricultural Pheromones Market Overview
The study papers by MRFR imply that in the “Agricultural Pheromones Market Research Report Information by Mode of Application, Crop Type, Type, Region, and Function- Forecast Till 2032”, the Agricultural Pheromones market is forecast to cultivate considerably over the valuation period from 2022 to 2032 at a substantial CAGR of nearly 9.50%. the study papers even offer predictions related to the global market’s expanding revenue numbers, which will likely attain a market of USD 13.4 Billion by the end of 2032. As per the reports, the market was valued at nearly USD 3.4 Billion in 2022.
The market for agricultural pheromones is steadily expanding due to the increased need for environmentally friendly pest control methods in agriculture. Pheromones are being used more frequently as an efficient and safe substitute for chemical pesticides because they help with insect surveillance, mating disruption, and crop protection, which increases yields and has a smaller negative impact on the environment.
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Competitive Analysis
The listing of the prominent participants across the global Market for Agricultural Pheromones incorporates of players such as:
- ISCA Global
- Pacific Biocontrol Corporation
- Russell IPM
- SEDQ Healthy Crops SL
- Shin-Etsu Chemical Company
- Isagro S.p.A.
- Biobest Group
- Koppert Biological Systems
- Provivi, Inc.
- Suterra LLC
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 13.4 Billion |
| CAGR | 9.50% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Function, Mode of Application, Crop Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Increasing demand for crop protection solutions and increasing adoption of integrated pest management practices |
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Market U.S.P. Covered
Market Drivers
The global Agricultural Pheromones industry has progressed extremely in recent years. The primary parameters causing a surge in market performance are the increasing adoption of integrated pest management practices, considerable research & development efforts, and alternative crop protection strategies.
Market Restraints
On the other hand, there are several parameters that may have an adverse impact on the development of the global market for agricultural pheromones. One of the primary parameters restricting the advancement on the market’s performance of the global market is the high prices associated with the raw materials.
COVID-19 Impact
The global health crisis of COVID-19 has affected more than 200 countries around the world. The pandemic had a severe impact on the majority of the industry sectors as it led to several governments imposing partial or complete lockdown across majority parts of the world. The shortage of labor, disruption in supply chain network, shortage of raw materials, and fluctuation in the prices of transport choices have caused a major revenue loss in the global market for agricultural pheromones. However, with the rapid expansion in the population and fast vaccination rates around the globe is anticipated to have a positive effect on the development of the global market for agricultural pheromones over the coming years.
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Segment Analysis
Among all the types, the sex pheromones segment ensured the main position across the global market for agricultural pheromones in 2022, given their species-specific nature and the fact that they are active even when present in very minute concentrations.
Among all the functions, the mating disruption segment ensured the main position across the global market for agricultural pheromones in 2022. Given its capacity to lower the pest population, sexual disruption pheromones have a higher success rate.
Among all the modes of applications, the dispensers segment ensured the main position across the global market for agricultural pheromones in 2022, given the deployment of pheromones and other bioactive substances.
Among all the crop types, the fruits & nuts segment ensured the main position across the global market for agricultural pheromones in 2022, given their extensive cultivation for producing fruits, nuts, and the high demand for high-value horticultural commodities.
Regional Analysis
The study papers by MRFR imply that The North American Region ensured the main place across the global Agricultural Pheromones industry in 2022 with the maximum contribution of nearly 45.80%. The region is known for the presence of vital expansion contributors such as Mexico, the U.S., and Canada. The main aspect backing the expansion of the regional Agricultural Pheromones market is the massive usage of integrated pest management strategies for crop protection in the region. Furthermore, the governments of Canada and the United States help the usage of sustainable agrochemicals for crop protection. They are also proposed to positively impact the expansion of the regional market over the evaluation period. Moreover, the regional market is partly accelerated by several well-known local companies that generate agricultural pheromones, including ISCA Technologies Inc. and Suterra LLC.
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The European Region projects ensuring the second spot across the global Agricultural Pheromones industry over the coming years. The region is known for the presence of vital expansion contributors such as France, Germany, and the U.K. The region's main parameter supporting regional market expansion is the escalating demand for efficient crop protection solutions since the horticulture industry has grown in several European nations. Furthermore, the important requirement for natural pest management methods and agrochemicals for dynamic fruit crops, such as grapes, peaches, apples, and plums, is also projected to positively impact the development of the regional market over the assessment era.
The Asia-pacific Region ensured the main position across the global Agricultural Pheromones industry in 2022. The regional market is projected to display the maximum expansion rate over the assessment era. The region is known for the presence of vital expansion contributors such as India, China, and Indonesia. The main parameter supporting regional market expansion is the increasing use of agricultural pheromones to increase crop productivity coupled with increased earnings. To reduce the overall production cost of the product and enhance its efficacy, unique and affordable active components are increasingly being incorporated into the products, which in turn is also projected to positively impact the development of the regional market over the coming years. Moreover, the sales momentum of agricultural semiochemical goods is propelled by the growing awareness regarding product application and its advantages for yield improvement and lowering agricultural damage caused by pests and insects.
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