PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449572
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1449572
The integrated pest management pheromones market is projected to exhibit substantial growth, increasing from US$ 783.1 Mn in 2024 to an estimated US$ 1,306.1 Mn by 2031 this growth is anticipated to be driven by a notable CAGR of 7.6% during the period of 2024-2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2023/2024: | US$ 783.1 Mn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 - 2031 |
Forecast Period 2023/2024 to 2030/2031 CAGR: | 7.60% | 2030/2031 Value Projection: | US$ 1,306.1 Mn |
Integrated Pest Management (IPM) is an effective and environmentally sensitive approach to pest management that relies on a combination of common-sense practices. IPM programs use current, comprehensive information on the life cycles of pests and their interaction with the environment. This information, in combination with available pest control methods, is used to manage pest damage by the most economical means, and with the least possible hazard to people, property, and the environment. IPM takes advantage of all appropriate pest management options including, but not limited to, the judicious use of pesticides. In an IPM program, populations of causal agents are monitored to determine if and when treatments are needed. Treatments are based on predetermined action thresholds.
The global integrated pest management pheromones market is primarily driven by the increasing demand for organic and environment-friendly farming practices. Chemical pesticides pose severe threats to the environment as well as human health with their toxic residues. Thus, regulatory authorities across countries are promoting the use of eco-friendly products and techniques for pest control. Pheromones provide a species-specific, non-toxic way for managing pest populations and belong to the category of bio pesticides. Moreover, the increasing demand for food crops worldwide coupled with decreasing cultivable land is raising pressure on farmers to ensure optimum crop yields. Pheromones assist in maximizing crop productivity while minimizing dependence on synthetic chemicals. However, high costs involved in product development, lack of farmer awareness, and difficulty in producing consistent formulations may impede market growth to an extent. Widespread promotional activities showcasing benefits could generate untapped opportunities.
Integrated Pest Management Pheromones Market Segmentation:
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