December 12, 2023
(press release)
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The global agricultural pheromones market size was valued at USD 3.66 billion in 2022. The market is expected to grow from USD 4.24 billion in 2023 to USD 12.71 billion by 2030, exhibiting a CAGR of 16.98% during the forecast period. Fortune Business Insights™ presents this information in its report titled, “Agricultural Pheromones Market Size, Share, & COVID-19 Impact Analysis, By Type (Sex Pheromones, Aggregation Pheromones, and Others), By Function (Mating Disruption, Detection & Monitoring, and Mass Trapping), By Application (Dispensers, Traps, and Spray Method), By Crop Type (Field Crops, Orchard Crops, Vegetables, and Others), and Regional Forecast, 2023 - 2030”. Agricultural pheromones are chemical signals used to disrupt pest behavior, monitor, and trap pests that attack crops, influencing pest behavior that can impact crop yield. Increased investments by major market players to expand their presence across Asian countries through innovative marketing strategies are estimated to drive growth in the market during the forecast period. Disruptions in Operations During COVID-19 Pandemic Hindered Market Growth The COVID-19 pandemic had a negative impact on the agricultural pheromones sector. Disruptions in operations and marketing strategies among global producers hindered market growth during the pandemic. Manufacturers primarily focused on establishing domestic and international sales partnerships to support farmers' queries, growth, and sales momentum during this period. Koppert Launches 4 New Traps to Monitor and Trap Pests In September 2021, Koppert launched four new traps to expand its Horiver sticky trap range: Horiver Dry, Horiver Wet, Horiver Delta, and Horiver Disc. These traps assist in monitoring and trapping pests such as leaf miners, aphids, whiteflies, thrips, and various other insects across different types of crop. High Effectiveness of Pheromones Against Different Pests Drives Market Growth The higher effectiveness of pheromones against various crop-damaging pests, compared to some conventional pest control chemicals, is driving growth in this market. This increased efficacy is popular among farmers adopting integrated pest management practices, fueling market growth. Pheromones are gaining recognition for their suitability in modern sustainable farming practices. However, the higher costs of different pheromone types compared to conventional insecticides may impede market growth. Increasing Focus of Key Players on Developing Efficient Crop Protection Solutions to Aid Market Growth The market comprises key players such as Gowan Company, Suterra LLC, BASF SE, Provivi Inc., and Russel IPM, holding a significant portion of the agricultural pheromones market share. These players increasingly concentrate on developing efficient, sustainable, and organic protection solutions to reduce the use of harmful synthetic pesticides Notable Industry Development To get a detailed report summary and research scope of this market, click here: https://www.fortunebusinessinsights.com/industry-reports/agricultural-pheromones-market-100071 List of the Companies Profiled in the Report: Further Report Findings: Table of Segmentation: ATTRIBUTE DETAILS Study Period 2019-20230 Base Year 2022 Estimated Year 2023 Forecast Period 2023-2030 Historical Period 2019-2021 Unit Value (USD Billion) Growth Rate CAGR of 16.98% from 2023 to 2030 Segmentation By Type By Function By Application By Crop Type Geography
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