Agricultural Pheromones Market
The global agricultural pheromones market is on the rise and is expected to reach USD 6,087.8 million by 2026, with a projected CAGR of 16.1% during the forecast period. In 2021, the market was valued at USD 2,879.8 million.
Agricultural pheromones are chemical signals that trap pests such as insects in crop fields. The market's key players are investing in developing advanced and innovative agricultural pheromones that use different techniques, such as trap designs, microencapsulation, and pheromones, to provide solutions for the mass trapping of insects without the use of insecticides. By studying different pheromones secreted by major insect pests, manufacturers have produced effective methods that limit the application of insecticides.
One trend driving the agricultural pheromones market is the synthesis of pheromone molecules bio-organically through bacteria and yeasts. This technique is projected to widen market opportunities for crop protection manufacturers while reducing the adoption of complex chemical synthesis processes and lowering the manufacturing costs of the technical ingredients.
Another factor contributing to market growth is the growing popularity of microencapsulated spray pheromones. Farmers prefer these because of their easy applicability, the efficient release rate of technical ingredients, and the ability to reach crops at the required height for effective mating disruption.
Overall, the agricultural pheromones market is poised for significant growth over the next five years, driven by technological advancements, increasing demand for sustainable agriculture practices, and the need to reduce harmful chemicals.
Market Trends:
One of the driving factors in the agricultural sector is the increasing demand for crop protection solutions. Insecticides and pesticides have been commonly used to eliminate pests and achieve high crop yields in the global agriculture industry. However, due to the rising concerns regarding the negative impacts of these chemicals on human health, farmers have been compelled to adopt more sustainable and eco-friendly agricultural practices.
In recent years, companies have invested heavily in research and development to expand the application areas of these pesticides. For example, Provivi invested over USD 85 million in October 2019 to support the development of its pheromone product portfolio. Many horticulture and agriculture farmers use sex pheromones and attractants to reduce crop-damaging insects and pests effectively. Ongoing R&D efforts to improve the overall efficiency of these products are expected to drive the growth of the agricultural pheromones market in the coming years.
The agricultural pheromones market in North America is experiencing dominance and is expected to achieve a high Compound Annual Growth Rate (CAGR) of 16.9% from 2021 to 2026.
The widening scope of applications across various industries is contributing to the growth of the pheromone market in North America.
The United States is the largest market for pheromones, mainly due to the country's significant production and consumption of fresh and processed fruits. In 2018, sales of organic products in the US reached USD 2.5 billion, showing a 6.3% increase from 2017. The Organic Industry Survey conducted by the OTA in 2019 reported that organic food sales grew by 5.9% to USD 47.9 billion, surpassing total food sales growth at 2.3%. These factors have significantly contributed to the US holding the largest share in the pheromone market.
In Canada, sex pheromones are widely used for monitoring and lure-and-kill purposes and to disrupt the mating of insects. Canada's primary crops include apples, corn, cherries, tomatoes, soybeans, and grapes. Insect pheromones are utilized to target pests like codling moths on apples and grape berry moths on grapes by using monitoring and mating disruption techniques. Insect pheromones are mainly used for monitoring purposes in greenhouse farming, where mainly vegetable crops are cultivated.
Source: https://www.credenceresearch.com/report/agricultural-pheromones-market
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