PUBLISHER: The Business Research Company | PRODUCT CODE: 1414565
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414565
“Semiochemicals 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 semiochemicals 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 semiochemicals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The semiochemicals 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.
Semiochemicals are organic substances utilized by insects to convey specialized chemical instructions that can modify physiology or behavior, often employed for organic pest control in farming.
The primary types of semiochemicals include pheromones and allelochemicals. Pheromones are endogenous substances released in minute amounts by one organism to elicit specific reactions from another organism of the same species. Semiochemicals find applications in various crop types, including field crops, orchard crops, and vegetable crops. These applications encompass detection and monitoring, mass trapping, and mating disruption.
The semiochemicals market research report is one of a series of new reports from The Business Research Company that provides semiochemicals market statistics, including semiochemicals industry global market size, regional shares, competitors with a semiochemicals market share, detailed semiochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the semiochemicals industry. This semiochemicals 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 semiochemicals market size has grown rapidly in recent years. It will grow from $4.56 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth observed in the historic period can be attributed to several factors, including the acceptance and education of the market, concerns related to pest resistance, heightened demands for increased agricultural productivity, ongoing research in chemical ecology, and advancements in formulation technologies.
The semiochemicals market size is expected to see rapid growth in the next few years. It will grow to $9.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The anticipated growth in the forecast period can be attributed to factors such as the impact of climate change, increased investments in research and development, growing consumer demand for organic products, the adoption of precision agriculture, and market expansion in developing regions. Major trends expected in the forecast period include a preference for biopesticides, the adoption of targeted pest management strategies, the implementation of integrated pest management (IPM) practices, the expansion of agricultural practices, advancements in pheromone technology, and heightened consumer awareness.
The rapid adoption of organic farming is a significant driver of the semiochemicals market. Organic farming involves agricultural methods that rely on biological fertilizers, such as those made from animal and plant wastes, nitrogen-fixing cover crops, and ecologically based insect treatments. Semiochemicals play a crucial role in organic farming for pest control, given their natural origin from plants, making them well-suited for organic farming practices. Their increased use in agriculture is attributed to their effectiveness and low environmental impact. For example, a 2022 report from the Department for Environment, Food and Rural Affairs (Defra) in the UK revealed a 34% increase in organic farming practices in 2021 compared to the previous year. This underscores the rapid adoption of organic farming, which, in turn, will drive the semiochemical market.
The increased cultivation of high-value crops is expected to further boost the growth of the semiochemical market. High-value crops are those cultivated for their substantial economic worth or significant market value per unit area. The use of semiochemicals in the cultivation of high-value crops is crucial for pest management and crop protection, offering a targeted and environmentally friendly alternative to chemical pesticides. For instance, data from the National Agricultural Statistics Service in September 2022 indicated a rise in the soybean area harvested in the United States, from 86,332 per 1000 acres in 2021 to 86,631 per 1000 acres in 2022. This increased cultivation of high-value crops contributes to the growth of the semiochemical market.
Technological advancements stand out as a key trend gaining popularity in the semiochemicals market. Major companies in the semiochemicals market are directing their efforts towards expanding applications on significant crops such as rice and wheat. For instance, in March 2022, Provivi Inc., a US-based biotechnology company, collaborated with Syngenta Crop Protection, a Switzerland-based crop protection company, to introduce Nelvium. This innovative mating disruption technology aims to control harmful pests in rice more effectively and safely. Pheromone solutions play a crucial role in insect control, ensuring that the use of natural technologies maximizes the efficacy and scalability of pest management programs while significantly reducing the emergence of resistant populations.
Leading companies in the semiochemicals market are prioritizing the development of innovative products, such as next-generation insecticide adjuvants, to enhance efficacy, minimize environmental impact, and improve pest control measures. Next-generation insecticide adjuvants are advanced compounds or formulations designed to improve the effectiveness, stability, and targeted delivery of insecticides while minimizing ecological harm. For example, in June 2021, Suterra LLC, a US-based provider of mating disruption products for crop protection and commercial pest control, launched BioAmp AA, the world's first trail pheromone adjuvant for controlling Argentine ants (Linepithema humile). BioAmp AA, a synthetic copy of the trail pheromone for the Argentine ant, is formulated into a microencapsulated, sprayable adjuvant. When mixed with non-repellent insecticide sprays commonly used for exterior perimeter ant service calls, it lures the insect into the treatment area, exposing more ants to the insecticide and greatly enhancing its effectiveness.
In July 2022, FMC Corporation, a US-based chemical manufacturing company, acquired BioPhero ApS for an undisclosed amount. This acquisition expands FMC's expertise in organic farming and pest control using semiochemicals, such as pheromones. BioPhero ApS is a Denmark-based pheromone research and production company.
Major companies operating in the semiochemicals market report are Shin-Etsu Chemical Co. Ltd., Pacific Biocontrol Corp., Bedoukian Research, Suterra LLC, Pherobank, Isagro Group, Certis Europe B.V., Corteva Inc., Russell IPM Ltd., Koppert Biological System, CBC GmbH, Sumisho Electronics Devices Quality Assurance Ltd., Biobest Group NV, Bioline AgroSciences Ltd., Hercon Environmental, Scentry Biologicals Inc., BioPhero A/S, Laboratorios Agrochem S.L., Bioiberica S.A., Symbios Technologies Inc., BioWorks Inc., Sankyo Kasei Co. Ltd., Nihon Tokushu Noyaku Seizo Co. Ltd., Nippon Soda Co. Ltd., Mitsui Chemicals Agro Inc., Fumakilla Limited, Nufarm Limited, BASF SE, Bayer AG, Syngenta AG, Dow AgroSciences LLC, DuPont de Nemours Inc.
North America was the largest region in the semiochemicals market in 2023 and is expected to be the fastest-growing region in the global semiochemicals market report during the forecast period. The regions covered in the semiochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the semiochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The semiochemicals market consists of sales of kairomones, allomones, synomones and apneumones. 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.