PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501662
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501662
Asia Pacific Agricultural Pheromones Market is valued at approximately USD 780 million in 2023 and is anticipated to grow with a healthy growth rate of more than 19.72% over the forecast period 2024-2032. Agricultural pheromones are chemical compounds produced and released by agricultural organisms, primarily insects, to communicate with one another. These pheromones serve an important role in agricultural management, including as pest control, and mating behavior. Furthermore, agricultural pheromones are used to monitor pest populations by trapping insects that respond to certain pheromones. This data enables farmers and agricultural researchers to monitor insect populations, evaluate the efficacy of control techniques, and make informed pest management decisions. The increasing consumer demand for organic and pesticide-free produce is supporting the adoption of pheromone-based pest control methods. Organic farming practices, which restrict synthetic chemicals, are naturally aligned with the use of pheromones. Thus, the rising demand for organic products is anticipated to support the market growth.
In addition, governments in the Asia Pacific regions are increasingly supporting sustainable agriculture practices through subsidies, awareness programs, and favorable regulations. Policies promoting the use of biopesticides and pheromones over conventional pesticides are boosting market growth across the region. Also, there is a growing awareness among farmers in the Asia Pacific region about the benefits of integrated pest management (IPM) strategies, which emphasize the use of pheromones to control pest populations in an environmentally friendly manner. This shift from traditional chemical pesticides to more sustainable practices is a significant driver for the market. Additionally, the rising demand for organic food products has led to an increase in organic farming practices, where the use of chemical pesticides is restricted. Pheromones are widely used in organic farming as they help in pest control without compromising the organic status of the crops. However, the lack of awareness regarding agricultural pheromones and low utilization of biologicals in developing economies are expected to hinder the Asia Pacific Agricultural Pheromones Market growth during the forecast period 2024-2032.
The key Countries considered for the Asia Pacific Agricultural Pheromones Market study includes China, India, Japan, South Korea, Australia and Rest of Asia Pacific. In 2023, China was the largest regional market in terms of revenue. The Chinese government is actively promoting the use of biopesticides and other sustainable agricultural practices. Policies and subsidies aimed at reducing chemical pesticide usage and encouraging the adoption of Integrated Pest Management (IPM) are boosting the demand for agricultural pheromones. Also, there is a growing awareness among Chinese farmers and agricultural stakeholders about the benefits of sustainable farming practices. Pheromones are used for pest control without harming the environment that are becoming increasingly popular as an eco-friendly alternative to chemical pesticides. Moreover, India is expected to grow with the highest CAGR during the forecast period 2024-2032.