Dublin, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The "IPM Pheromones Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global IPM pheromones market was valued at US$0.744 billion in 2021 and is expected to grow at a CAGR of 11.53% to reach US$1.597 billion by 2028
Integrated Pest Management (IPM) pheromones are organic chemical compounds used as traps by farmers on insects and other animals to monitor target pests in agriculture or residential areas, which helps detect insect infestation on crops. They help identify and monitor pests, provide decision support, map pest distribution, quarantine inspection, assessment of population dynamics, and schedule management operations. For instance, the sex pheromone of the tobacco caterpillar is used for monitoring the pest in soybean, castor, and peanut.
Integrated pest control solutions have undergone significant development due to the adverse effects of traditional pesticides on human health, the environment, plants, and animals. IPM insect pheromones are a highly effective alternative to controlling pests in forests and agriculture. Therefore rising demand for safe and sustainable pest control solutions is one of the key drivers of the global IPM pheromones market.
The booming population, rising food insecurity, and growing scarcity of fertile farmland and other resources are driving the demand for nutrient-rich, high-yielding crops. IPM pheromones are ecologically safe and chemical-free, which makes them highly suitable to use during organic farming practices. Therefore rising trend towards organic farming and growing demand for organic products is also propelling the demand for IPM pheromones during the forecast period.
However, the high production and maintenance cost of IPM pheromones and the lack of knowledge, particularly in emerging economies, are likely to remain significant challenges. Continuous product innovation, launches, and progress in agriculture biotechnology are providing new opportunities for key market players.
The need for safe pest control and protection solutions is supporting the IPM pheromones market growth.
According to Food and Agriculture Organization estimates, 40 percent of the world's crop yield is lost yearly due to pest infestation. Over US$220 billion worth of crops are lost annually to plant diseases and at least US$70 billion to invasive insects in the global economy. The pest population has risen significantly due to the usage of conventional pesticides that harm beneficial parasites, disrupt the ecosystem, cause soil pollution, and negatively impact the economy.
As a result, the idea of IPM pheromones is quickly being adopted by farmers to address the externalities associated with pesticide use. IPM pheromones offer sustainability, maximize benefits, and lowers costs while allowing for safer pest management & control. Although many techniques have been used, mass trapping and selectively killing harmful pests using pheromones is undoubtedly one of the most effective methods for pest control.
Additionally, using IPM pheromone traps reduces threats to the environment and to human beings. Therefore growing demand for safe pest control and management solutions supports the global market expansion of IPM pheromones.
The North American region held a significant share of the global IPM pheromones market in 2021.
North American region is anticipated to hold a substantial market share in IPM pheromones. This region will experience rapid expansion throughout the projection period due to the safe and advanced pest control solutions. IPM pheromones are in high demand among farmers in markets such as the United States and Canada. This region's market is also expanding due to the shift towards organic farming.
According to the United States Department of Agriculture data, eighty-two percent of American farmers intend to increase the yield of organic produce. There are 1,558 certified organic farms in the United States and 657 additional farms to be certified in 2021. There are around 23,957 organic farmers, including over 5,000 in Canada and 18,000 in the United States.
Moreover, a well-established agriculture industry and high investment are also spurring regional demand for IPM pheromones. They are becoming more popular due to the growing demand for fresh-cut flowers and the flourishing floriculture industry in the USA and Canada, fueling regional market expansion. In addition, the prevalence of key market players such as Sumi Agro, Rusell IPM, Syngenta Bioline, and others also spur the growth of IPM pheromones in this region.
Company Profiles
- Syngenta Bioline
- Russell IPM
- Sumi Agro France
- Hercon Environmental
- BASF SE
- Shin-Etsu
- Isagro
- ISCA Technologies
- Pacific Biocontrol Corporation
- Suterra
Market Segmentation:
By Product
- Pheromones
- Aggregation Pheromones
- Others
By Function
- Mating Disruption
- Detection and monitoring
- Mass Trapping
By Mode of Application
- Traps
- Sprayers
- Dispensers
By Crop
- Field Crops
- Vegetable Crops
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Thailand
- Others
For more information about this report visit https://www.researchandmarkets.com/r/mzpg9j
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