Pheromones Market Size

Pheromones Market is anticipated to surpass USD 3 Billion by 2030 from USD 9 Billion in 2020 at a CAGR of 17% throughout the forecast period, i.e. 2020-2030

Pheromones are substances used by insects and other creatures for mutual communication. These chemical transmissions are sent by insects to attract potential mates, inform others of predators, or search for food. Traps may be used with different pheromones to control target pests in crops or residential neighborhoods. It could be possible to spot an infestation before it happens by actively checking for insects. Early intervention of insect pests using pheromone tricks can also reduce the harm to farming and other plants. Pheromones can also restrict the existence of insects that sting. Wide quantities of scattering of pheromones may be used to inhibit insect mating in agriculture.

Market highlights

Pheromones Market is expected to project a notable CAGR of 17% in 2030.

The rising demand for the promotion of green agriculture and comprehensive pest management strategies has enabled market growth. Expanding pheromone prevalence in fruit such as apples, pears, oranges, and peaches in the U.S. and Mexico is attributed to the requirement for regulation of moth codling, grape moth, and Asian moth fruit. Similar activities have increased in popularity in vegetable and farm crops, such as sweet corn and cotton, respectively, through the US EPA and USDA IPM programs.

Global Pheromones Market in Agriculture Expected Market Growth

Global Pheromones Market

Pheromones Market in Agriculture: Segments

The mating disruption is predicted to rise for a higher revenue share in the forecast period

The mating disruption section is anticipated to hold the largest market revenue share of pheromones as a component since it is an efficient strategy due to its efficacy in controlling populations of insect pests. The method of mating disruption has led to the lowered application of pesticide sprinklers. It thus inhibits the possibilities for the production of tolerance among insects and decreases residues on fruits.

Sex pheromones are anticipated to be the largest-growing segment of the pheromones market by size.

Sex pheromones help to minimize insect pest populations in fruit & nuts, crops, and vegetable crops. These pheromones can be utilized to capture male and female pests which is a more feasible alternative than pheromones for aggregation or host-marking.

Fruits & nuts are anticipated to dominate the pheromone market by crop size in the forecast period of 2020-2030

With rising demand for high-value crops worldwide, the category Fruits & Nuts is responsible for the largest market share by crop size. Pheromone application is anticipated to reduce the prevalence of pesticides on crops, thereby enhancing the export situation for the growers.

Market Dynamics

Driver

Increase in awareness and government initiatives

During the forecast period 2020-2030, the market for agricultural pheromones is expected to grow at the fastest CAGR due to the rise in accepting sustainable farming practices. To decrease the effects and impact of insects in the field, farmers and market participants elect effective maintenance techniques such as pheromone traps. The market is also driven by increased government programs to enhance the use of semiochemicals for pest control. Understanding of pesticide exposure and the threats of synthetic chemical pesticides to advantageous natural predators and pests has driven the adoption of alternative safe crop protection products, which in recent years has increased the market for agricultural pheromones.

Rise in the innovations in the Pheromone market

Technical advancement in pheromone compounds, particularly aggregation pheromones to detect insects, and the accessibility of efficient trap models are anticipated to drive the demand for mass trapping due to its advantages to reduce the masses of insects and limit the use of insecticides among farmers. The resistance rate of a few pests to traditional pesticides has increased the use of active substance dosage and increased the application intensity of crop protection chemicals. Repetitive use and usage of chemicals therefore increase the expense of maintaining the crops. This has forced farmers and other crop growers to look for alternatives to pest control, such as agricultural pheromones.

Restraint

High cost and prolonged research and development

High costs of different compounds used in pheromone processing, lengthy R&D processes, and the need for huge investments by farmers to establish insect pheromone traps are key factors that hinder the global demand for agricultural pheromones. It is also anticipated that volatile weather conditions will negatively impact the overall demand for agricultural pheromones. Crop-specific pheromone items and less active substance requirements make it less desirable for producers of agrochemicals, so the emphasis moves from pheromone products to other profitable agrochemicals.

Pheromones Market in Agriculture: Regions

Pheromones Market in Agriculture is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Due to the growing adoption of pheromone traps over traditional insecticides, North America is predicted to seize control of the global market for agricultural pheromones during the forecast period.

Global Pheromones Market

Global Pheromones Market in Agriculture is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Pheromones Market in Agriculture: Key Players

BASF SE (Germany)

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis