PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501659
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501659
Global Agricultural Pheromones Market is valued at approximately USD 3.9 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 16.20% over the forecast period 2024-2032. Agricultural pheromones are chemical compounds produced by organisms, particularly insects, to communicate with others of the same species. These compounds serve various purposes within agricultural contexts, primarily for pest management and crop protection. Pheromone traps are used to detect the presence and monitor the population density of insect pests in agricultural fields. These traps contain synthetic versions of insect pheromones that attract pests, helping farmers assess the need for pest control measures. The growing trend towards Integrated Pest Management (IPM) significantly supports the growth of the Agricultural Pheromones Market. Integrated Pest Management emphasizes the use of multiple pest control tactics, including biological, cultural, and physical methods, to minimize reliance on chemical pesticides. Pheromones play a key role in IPM strategies by offering a non-toxic alternative for pest monitoring and control. This reduced dependence on chemical pesticides creates a demand for alternative pest management solutions like pheromones.
Moreover, the expanding agriculture industry, driven by population growth, urbanization, and changing dietary preferences, is creating a larger market for agricultural inputs, including pest control solutions. This growth provides opportunities for companies operating in the global agricultural pheromones market to expand their product offerings and reach new customers. Also, as awareness about the harmful effects of chemical pesticides on human health and the environment increases, more farmers are actively seeking safer alternatives. Agricultural extension programs, government initiatives, and educational campaigns are helping to spread awareness about the benefits of pheromone-based pest management among farmers. Additionally, with increasing concerns about environmental sustainability and food safety, there is a rising demand for eco-friendly pest control methods. Agricultural pheromones offer a sustainable alternative to chemical pesticides, as they are non-toxic and target specific pests without harming beneficial insects or the environment. However, the initial costs associated with purchasing and implementing agricultural pheromone-based solutions, and availability of substitute are expected to hinder the market growth during the forecast period 2024-2032.
The key regions considered for the global Agricultural Pheromones market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the largest regional market in terms of revenue due to their expanding applications not only in agriculture but also in forestry and industrial sectors such as food and pharmaceuticals. The region cultivates a diverse range of crops including cotton, tomatoes, grapes, corn, pome fruits, and stone fruits, all susceptible to pest infestations from insects like the pink bollworm, leaf miner, codling moth, and berry moths. Given the growing difficulty of pest resistance to traditional insecticides, as well as expanding government and public pressure for safer and more sustainable agricultural practices, effective pheromone controls have become more important in modern agriculture. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period 2024-3032.