Agricultural Pheromones Market Size at CAGR of 15.86% and Forecast till 2025 - Reuters

 

Agricultural Pheromones Market Size at CAGR of 15.86% and Forecast till 2025

Agricultural Pheromones Market Size at CAGR of 15.86% and Forecast till 2025 | Exclusive Report by Fortune Business Insights

Thu May 16, 2019 - 10:30am UTC

Agricultural Pheromones Market is anticipated to exhibit a significant CAGR of 15.86%. The rising demand for several fruit and field crops such as pears, apples, peaches, and cotton may create impressive growth opportunities in the global market.

Pune, India – May 16, 2019

The Global Agricultural Pheromones Market covered a value of US$ 1.92 Bn in the year 2017 and is expected to reach US$ 6.21 Bn by 2025. This information was published in a report, titled “Agricultural Pheromones Market Size, Share and Global Trend By Product Type (Sex Pheromones, Aggregation Pheromones), Function (Mating Disruption, Detection and Monitoring, Mass Trapping), Mode Of Application (Traps, Sprayers, Dispensers), By Crop (Field Crops, Orchard Crops, Vegetables) and Geography Forecast Till 2025.” As per the report, the global market for agricultural pheromones is anticipated to exhibit a significant CAGR of 15.86% over the forecast years. A lead analyst said, “Pheromones are chemical molecules which act as a bridge for communication among several insects in the field”. He added, “This further helps to grow the crop production in a healthy and an efficient manner.”

North America to Lead the Global Market Owing to Rising Adoption of Agricultural Pheromones

North America is projected to emerge dominant and exhibit higher growth rate in the global agricultural pheromones market during the forecast period. The rising demand for several fruit and field crops such as pears, apples, peaches, and cotton may create impressive growth opportunities in the global market. In addition to this, increasing awareness about the use of such crops is likely to benefit the agricultural pheromones market in this region. The market in Asia Pacific is projected to report swift growth in the years to come. This is attributable to the growing use of agricultural pheromones in most of the countries in this region. The rising demand for exporting agricultural products from Brazil and China may increase the usage of agricultural pheromones in upcoming years.

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Aggregation Pheromones to Emerge as the Dominant Product Type

Aggregation pheromones accounts for a major share in the global agricultural pheromones market. These type of pheromones attract both female and male insects, controlling the insect pests on a large scale. This is one of the primary factors fueling demand for aggregation pheromones. Among crop types, orchard crops are expected to lead and cover a higher value in the global agricultural pheromones market. These crops offer beneficial results in controlling insect pests by using pheromones.

Rising Need for Sustainable Agriculture to Bode Well for the Market

Sustainable agriculture is the need of the hour. The rising adoption of integrated pest management practices or IPM helps to ensure sustainability, thus driving the market. Another factor fueling the demand for agricultural pheromone chemicals is increasing food consumption in developed and developing countries. In addition to this, advancements in technologies such as remote sensing monitoring, are projected to open new growth opportunities for the agricultural pheromones market. This technology is intended to effectively monitor crops and prevent them from pests. Also, rising awareness about precision agricultural systems is expected to contribute to the growth of agricultural pheromones. Farmers are becoming aware about the adverse effects of biological or chemical pesticides, which in turn, will result in the rising demand for natural alternatives. This is expected to further boost the agricultural pheromones market in the years to come. Rapid advancements in biotechnology are likely to pave way for new agricultural pheromone products.

Product Launches to Strengthen Product Portfolio will Enable Market Gain Traction

Between 2014 and 2017, mergers and acquisitions and product launches were the most significant strategies adopted by companies. These strategies were implemented to gain higher access to the agricultural pheromones market. Now, companies are focusing on developing eco-friendly agricultural pheromone products to gain competitive edge. Some of the leading players operating in the global agricultural pheromones market are Biobest, Syngenta, ISAGRO, Suterra, Provivi, Inc., Russell IPM, Bedoukian Research, BioPhero, Pherobank, Laboratorios Agrochem, Troy Biosciences, Exosect, and Pacific Biocontrol Corporation. Syngenta launched a meso pheromone called Cidetrak EGVM in Chile in November 2018. This pheromone product helped to control European grapevine moth.

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