Market For Agricultural Pheromones Is Witnessing Steady Growth

By Author: Sonal
Total Articles: 77
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The market for agricultural pheromones is witnessing steady growth and gaining momentum across regions, recording a CAGR of 16.1% from 2021 to 2026. This is mainly due to factors, such as the effective implementation and awareness initiatives of integrated pest management practices for sustainable agriculture, the introduction of regulations that encourage the research and production processes, the impact of pheromones leading to the reduced application of insecticides, and the prevention of resistance development, as well as residues on crops. The market for agricultural pheromones was valued at USD 2,485.0 million in 2020 and is projected to reach USD 6,087.8 million by 2026.

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The rise in concerns among consumers and governments about food safety has encouraged growers to explore new environment-friendly methods to replace or at least supplement the current chemical-based practices. The use of pheromones has emerged as a promising alternative to chemical pesticides. Pheromones are offered at a low cost in the market ...
... as compared to chemical pesticide sprays.

In addition, government organizations are encouraging the adoption of pheromones for crop protection across regions. These are some major factors that are projected to drive market growth for the next six years. However, the pheromones market needs to overcome key barriers, such as the need for the improvement of active ingredients, slow pest control, high manufacturing costs as compared to conventional agrochemicals, as well as problems related to their registration for their commercialization.

The fruits & nuts segment, by crop type, dominated the agricultural pheromones market in 2020. It is projected to grow at a CAGR of 15.8% during the forecast period, as the higher costs of pheromone applications are suitable for low-volume and high-value crops, such as fruits & nuts. This is a key factor encouraging crop growers to invest, particularly in developing markets, and reduces chemical residue levels to meet the export quality requirements, lower the development of insect pest resistance toward insecticide used, and reduce the cost of cultivation. 

North America accounted for the largest share in 2020; the market is projected to grow at a CAGR of 16.9% during the forecast period. The increasing awareness about insect pheromones among IPM practitioners, particularly early adopters in fruit, cotton, and orchard farming, such as grapes and pome & stone fruits, is a key factor that is projected to drive the growth of the market.

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Key companies in the agricultural pheromones market are BASF SE (BASF), ISAGRO S.p.A (Isagro), Biobest Belgium NV (Biobest Belgium), Koppert B.V. (Koppert), Suterra LLC (Suterra), Russell IPM Ltd. (Russell IPM), ISCA Technologies, Inc. (ISCA Technologies), Bedoukian Research, Inc. (Bedoukian Research), Troy Biosciences, Inc. (Troy Biosciences), and Pherobank BV (Pherobank).