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  • 3 February 2020 23:52

Pheromones Market Business Opportunities, Chain Structure Analysis and Industry Development Overview by 2030

Global pheromones market in agriculture is estimated to be over US$ 2.3 Billion in 2018. It is anticipated to grow at a CAGR of 4.69% from 2019 to 2030.

Pheromones are chemical substances that impart behavioral or physiological changes to the receiving individuals. There are several types of pheromones based on the effects on behavior such as aggregation, alarm, signal and sex pheromones. Pheromones are commonly used in agriculture for monitoring and managing the targeted pest population for protection of crops from infection. Pheromones are volatile substances that acts on the perceiving individual by getting absorbed on the surface of antennae, thereby diffusing in the interiors at locations where ligand-receptor interactions occur. This interaction leads in signal transduction which brings about behavioral change in an individual.

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The global pheromones market in agriculture is driven by several factors such as implementation of more sustainable agricultural practices namely, Integrated Pest Management to reduce toxicity inflicted to the environment and improve the overall agricultural production. Moreover, increasing preference of pheromones in agriculture can be attributed to target specificity and ease in application of pheromones. This assists in controlling several forms of pests thereby contributing extensively to the growth of the global pheromones market in agriculture. However, high cost of initial investment and regular maintenance cost hampers the growth of this market.

Pheromones Market by Type

On the basis of type, the pheromones market in agriculture is segmented into sex pheromones, aggregation pheromones and others. The sex pheromones segment is estimated to account for the largest share in the global pheromones market in agriculture. The large share of this segment can be attributed to several factors such as government initiatives that target the promotion of agricultural sector across several regions, extensive focus in R&D infrastructure and growing technological advancements in application of sex pheromones.

Pheromones Market by Crop Type

On the basis of crop type, the market can be segmented into field crops, fruits & nuts, vegetables crops and other crops. In terms of market share, the segment of fruits & nuts is estimated to account for the largest market share, owing to high profitability of these food products.

Pheromones Market by Application

On the basis of application the pheromones market in agriculture can be segmented into trapping, monitoring and mating disruption. The segment of mating disruption is estimated to grow at a robust CAGR during the forecast period owing to the better target specificity obtained by the application of sex pheromones. Sex pheromones disrupts mating localization by creating confusion and hence efficiently controls pest population.

Pheromones Market by Mode of Application

On the basis of mode of application, the market is segmented into traps, sprayers and dispensers. The sprayers is estimated to account for the largest share of the global pheromones market in agriculture. The large share of this segment can be attributed to the ease of application of microencapsulated pheromones for efficient pest control.

Pheromones Market by Region

The global pheromones market in agriculture can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of pheromones market in agriculture. Dominance of North America in global pheromones market in agriculture during the forecast period can be attributed to factors such as large area under cultivation and increasing requirement of orchard crops which majorly comprises of fruit or nut crops. Moreover, the increasing adoption of Integrated Pest Management practices have increasingly contributed to the growth of the market in this region.

Pheromones Market Prominent Players

The prominent players in the global pheromones market in agriculture are ISAGRO S.p.A., ISCA, Russell IPM Ltd, Pacific Biocontrol Corporation, Shin-Etsu Chemical Co., Ltd, Laboratorio Agrochem, S.L., Inc., Pherobank, Biobest Group NV, Suterra, and Bedoukian Research, Inc. among others

By type, sex pheromones are projected to be the fastest-growing segment in the pheromones market during the forecast period.

Sex pheromones aid in reducing the population of insect pests in fruits & nuts, field crops, and vegetable crops. These pheromones can be used in capturing both male and female insects due to which it is a more viable option than aggregation or host-marking pheromones.

By crop type, fruits & nuts are projected to dominate the pheromones market during the forecast period. Fruits & nuts segment is accounted to hold the largest market share due to the growing demand for high-value crops across the globe. The application of pheromones would aid in reducing the presence of pesticide residue on crops, thereby improving the export scenario for the growers.

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