The agricultural pheromones market is projected to reach USD 8.2 billion by 2028 from 3.9 billion by 2023, at a CAGR of 16.2% during the forecast period in terms of value.
What is agricultural pheromones?
Agricultural pheromones are chemical substances produced by organisms, especially insects, to communicate with others of the same species. In agriculture, these pheromones are used to manipulate insect behavior for pest control or to enhance crop pollination. They can be synthesized and deployed in various ways, such as traps or dispensers, to disrupt mating patterns, attract or repel insects, or modify their behavior to benefit agricultural practices. The use of agricultural pheromones can help reduce the reliance on chemical pesticides and promote more environmentally friendly pest management strategies.
Key Highlights the Agricultural Pheromones Market:
1. Market Growth: The agricultural pheromones market has been experiencing significant growth owing to increased demand for eco-friendly pest control solutions in agriculture.
2. Pest Control Solutions: Pheromones are being increasingly used as an effective alternative to chemical pesticides. They help in controlling pests by disrupting their mating patterns, thus reducing crop damage.
3. Crop-Specific Solutions: Companies are developing pheromone-based solutions tailored for specific crops and pests. This targeted approach enhances efficacy and reduces environmental impact.
4. Technological Advancements: Ongoing research and technological advancements have led to the development of more sophisticated and efficient pheromone delivery systems, improving their effectiveness in the field.
5. Regulatory Support: Governments worldwide are supporting the adoption of pheromone-based pest control methods due to their eco-friendly nature, contributing to market growth.
6. Global Adoption: The adoption of agricultural pheromones is witnessing growth not only in developed regions but also in emerging economies, driven by increasing awareness of sustainable farming practices.
7. Challenges: Despite the benefits, challenges such as high production costs and the need for extensive education among farmers about pheromone usage remain obstacles to widespread adoption.
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North America is expected to have the fastest growing rate during the forecast period.
The market for pheromones is growing in North America owing to the widening scope of applications in not only agriculture but also in forestry and for industrial purposes, such as in the food and pharmaceutical industries. Some of the majorly grown agricultural crops in the region include cotton, tomatoes, grapes, corn, pome fruits, and stone fruits. These are some of the crops that are prone to attacks from various insect species, such as the pink bollworm, leaf miner, codling moth, and berry moths. Effective pheromone controls are needed nowadays since global agriculture faces increasing pest resistance that renders conventional insecticides less effective and increasing pressure from governments and consumers demand safer and greener food production.
Key Market Players:
The key players in this include Shin-Etsu Chemical Co., Ltd (Japan), BASF SE (Germany), Mitsui & Co., Ltd. (Japan), Biobest Group NV (Belgium), The Wonderful Company LLC (US), Russell IPM (UK), ISCA Technologies (US), Trécé Incorporated (US), Bedoukian Research, Inc. (US), Pherobank (Netherlands), Koppert Biological Systems (Netherlands), Gowan Company (US), InVivo (France), Bio Controle (Brazil), and ATGC Biotech Pvt Ltd. (India).
Recent Developments:
1. In May 2023, Biobest Group NV proposed the acquisition of BioWorks, Inc., a key leading player in the biopesticides industry. This acquisition would enable Biobest Group NV to expand its biopesticide product portfolio and also enhance the company’s manufacturing capabilities in North America.
2. In January 2023, Koppert Biological Systems completed the acquisition of Linderso AB, a prominent distributor in Sweden. The acquisition would enable the company to improve its geographical presence and commercial strength in the Scandinavian market.
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