PUBLISHER: Allied Market Research | PRODUCT CODE: 1566811
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566811
The agricultural pheromone market was valued at $3.8 billion in 2023, and is projected to reach $17.9 billion by 2033, growing at a CAGR of 16.7% from 2024 to 2033.
Agricultural pheromones are chemicals that are used for effective and sustainable pest management. They work by disrupting the pest's ability to mate, inhibiting the growth of from destroying crops. They serve as a valuable tool in pest management as they specifically target pests and minimize environmental impact.
The growth of the global agricultural pheromone market is majorly driven by increase in environmental concerns associated with the use of chemical-based pesticides and surge in preference of farmers toward sustainable farming practices. Moreover, implementation of stringent government regulations toward chemical pesticides promotes the growth of the market. For instance, the Environmental Protection Agency (EPA) has enforced many programs and strategies to ensure safe level of exposure to the residues of pesticides that may remain on food. For instance, Pesticide Residue Monitoring Program monitors and regulates that pesticide residues are present within the allowable tolerance level. Such regulations limit the adoption of chemical pesticides and promote the use of pheromones, which significantly contributes toward the growth of the global market. However, insects exhibit the potential to develop resistance against pheromones similar to how they become resistant to chemical pesticides, which restrains the growth of the market. In addition, pheromones can be costly to produce and apply as compared to traditional chemical pesticides. Extensive initial setup requirements including dispensers and monitoring equipment, incur additional cost, which acts as a key deterrent factor of the market. Moreover, the species-specific nature of pheromones attract or repel certain types of insects or pests, which limits their effectiveness against multiple pests, thus hampering the market growth. On the contrary, ongoing research into new formulations and delivery methods for pheromones such as microencapsulation, slow-release formulations, and novel dispensing systems improve effectiveness and longevity, which is expected to open new avenues for the expansion of the market in the coming future.
The agricultural pheromone market forecast is segmented into crop type, function, mode of application, and region. On the basis of crop type, the market is classified into field crops, fruit & vegetables, ornamental plants, and others. By function, it is categorized into mass trapping, mating disruption, and monitoring & detection. Depending on mode of application, it is fragmented into traps, dispensers, sprays, and pheromone-impregnated materials. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of crop type, the field crops segment is expected to dominate the market by 2033.
By function, the mating disruption segment is expected to lead throughout the forecast period.
Depending on mode of application, the dispensers segment is anticipated to gain high prominence in the coming years.
Region wise, Asia-Pacific is likely to maintain its dominance by 2033.
Competition Analysis
Competitive analysis and profiles of the major players in the global agricultural pheromone market include FMC Corporation, Ephytia, BASF SE, MITSUI & CO., LTD, Biobest Group NV, Russell IPM, ISCA, Trece Inc, BedoukianBio, Pherobank These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to garner maximum share in the agricultural pheromone market and sustain intense competition.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)