PUBLISHER: The Business Research Company | PRODUCT CODE: 1390951
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390951
“Agricultural Pheromones Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on agricultural pheromones market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for agricultural pheromones? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The agricultural pheromones market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Agricultural pheromones are chemical substances produced by animals and insects to facilitate social interactions. In the context of agriculture, these pheromones play a crucial role in the behavior of pests, as they are released by insects to locate food sources and attract mating partners. Synthetic pheromones are employed to alter the behavior of pests, often utilized in traps or other methods to control insects that pose threats to crops.
The main types of agricultural pheromones include sex pheromones, aggregation pheromones, and other specialized formulations. Sex pheromones, for example, are scents released by males or females to elicit specific behavioral responses in the opposite sex, bringing males and females together for mating purposes. Agricultural pheromones serve various functions, including detection and monitoring, mass trapping, mating disruption, and other applications across field crops, vegetables, orchard crops, and other crop types. Dispensers, traps, and sprayers are commonly used to deploy agricultural pheromones in the field.
The agricultural pheromones market research report is one of a series of new reports from The Business Research Company that provides agricultural pheromones market statistics, including agricultural pheromones industry global market size, regional shares, competitors with an agricultural pheromones market share, detailed agricultural pheromones market segments, market trends and opportunities, and any further data you may need to thrive in the agricultural pheromones industry. This agricultural pheromones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The agricultural pheromones market size has grown rapidly in recent years. It will grow from $4.29 billion in 2023 to $5.09 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth observed in the historic period can be attributed to various factors, including economic growth, an increase in crop losses, investments in research and development, the expansion of agricultural production, and the growing emphasis on food safety. These combined influences have played a significant role in shaping the positive trajectory witnessed during that time.
The agricultural pheromones market size is expected to see rapid growth in the next few years. It will grow to $9.6 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The anticipated growth in the forecast period can be attributed to various factors, including the growing global population, the expansion of greenhouse farming practices, the rise of e-commerce platforms, increasing consumer demand for pesticide-free produce, and the emergence of markets for organic and specialty crops. Key trends expected during this period encompass the adoption of integrated pest management (IPM), the development of customized pheromone blends, collaborative research initiatives, diversification of pheromone types, and advancements in synthetic pheromone production. These trends reflect the industry's response to evolving consumer preferences, technological advancements, and the increasing importance of sustainable and environmentally friendly agricultural practices.
The increasing awareness of the risks associated with chemical pesticides is expected to drive the growth of the agricultural pheromones market. As people become more aware of the potential dangers posed by chemical pesticides, the demand for organic food has surged. Organic food is cultivated using pheromone-based methods that are pesticide-free and promote better health. According to the Indian Brand Equity Foundation (IBEF), an Indian government export promotion agency, the Indian organic food industry is projected to reach $10.73 billion by 2025, reflecting the growing aversion to chemical pesticides. Consequently, the rising awareness of chemical pesticide risks is anticipated to boost the agricultural pheromones market.
The increasing demand for environmentally friendly pest control is another driving force behind the agricultural pheromones market. Environmentally friendly pest control aims to manage and eradicate pest infestations while minimizing harm to the environment, non-target species, and human health. It emphasizes the use of non-toxic, sustainable, and ecologically responsible methods. Agricultural pheromones offer an eco-friendly solution by targeting specific pests without causing harm to beneficial insects, wildlife, or ecosystems. For example, in April 2023, a survey conducted by Pest Control Technology (PCT), a US-based trade publication serving the structural pest control industry, revealed that green products are used by 17% of pest management professionals nationwide, with 24% in the Northeast, over 19% in the Midwest, and 15% in both the South and West. This reflects a growing demand for environmentally friendly pest control, thereby driving the agricultural pheromones market.
The agricultural pheromones market is also being influenced by technological advancements. Technological advancements represent the acquisition of knowledge that leads to the development of products using advanced technology. In 2022, Provivi, a US-based biotechnology company, partnered with Syngenta, a Switzerland-based agrichemical company, to launch Nelvium, a pheromone-based solution for controlling harmful rice pests. This innovative Nelvium pheromone solution has been successfully applied in Indonesia for crop protection.
Major players in the agricultural pheromones industry are increasingly forming strategic partnerships to bolster their market position and expand their global presence. These collaborative endeavors between key industry stakeholders are catalysts for innovation and the wider adoption of pheromone-based solutions in pest management and crop protection. A prime example of such collaboration took place in January 2023 when Bayer, a German pharmaceutical and biotechnology firm, joined forces with M2i Group. This partnership allows Bayer to exclusively distribute a select range of M2i products designed to combat lepidoptera pests in crops like tomatoes, grapes, and various fruits.
In a noteworthy move in July 2022, FMC Corporation, a prominent U.S.-based chemical and agricultural sciences company, completed the acquisition of BioPhero ApS, a Denmark-based agricultural pheromone research and production company. This strategic acquisition, the financial details of which remain undisclosed, significantly expanded FMC's product portfolio and research and development pipeline. BioPhero ApS brought to FMC cutting-edge, organically manufactured pheromone pest control technologies, further strengthening FMC's position in the industry.
Major companies operating in the agricultural pheromones market include ATGC Biotech Pvt Ltd., BASF SE, Bio Controle, Biobest Group NV, Novagrica, Pherobank BV, Provivi Inc., Russell IPM, Shin Etsu Chemical Co Ltd., Suterra LLC, International Pheromone Systems Ltd., Syngenta, Exosect Ltd., Pheromone Chemicals Ltd., Barrix Agro Sciences Pvt. Ltd., Isagro S.p.A., SEDQ Healthy Crops SL, ISCA Technologies Inc., Koppert Biological Systems B.V., Pacific Biocontrol Corporation, Bedoukian Research Inc., Trece Inc., Isca Technologies Inc., Bioline AgroSciences Ltd., BioPhero ApS, Bioiberica S.A.U., BioWorks Inc., Certis Europe B.V., ChemTica International S.A., ConTech Enterprises Inc.
North America was the largest region in the agricultural pheromones market in 2023. North America is expected to be the fastest-growing region in the agricultural pheromones market share during the forecast period. The regions covered in the agricultural pheromones market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the agricultural pheromones market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The agricultural pheromones market consists of sales of releaser pheromones and trail pheromones. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.