(I-BusinessNews.Com, February 25, 2020 ) The global pheromones market size is estimated to account for a value of USD 2.4 billion in 2019 and is projected to grow at a CAGR of 15.3% from 2019, to reach a value of USD 5.7 billion by 2025. The growing demand for adoption of organic farming and integrated pest management solutions has helped drive the growth of the market.
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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.
The mating disruption, by function, is estimated to account for a larger market share, in terms of value, in 2019
As a function, the mating disruption segment is expected to hold a majority of the pheromones market share since it is an effective method due to its effectiveness in controlling insect pest populations. Mating disruption technique has led to the reduced application of insecticide sprays. Thus, it prevents the possibilities of resistance development among insects and reduces the residues on fruits.
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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North America is projected to grow at the highest CAGR 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. The increasing adoption of pheromones in fruits such as apples, pears, grapes, and peaches in the US and Mexico is due to the need for control codling moth, grape moth, and oriental fruit moth. Through the IPM programs of the US EPA (Environmental Protection Agency) and the USDA, these practices have gained importance in vegetable and field crops, such as sweet corn and cotton, respectively.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the pheromones market. It consists of the profiles of leading companies such as BASF (Germany), Suterra LLC (US), Russell IPM (US) , Shin-Etsu Chemical Co., Ltd (Japan), Koppert Biological Systems (Netherlands), Isagro Group (Italy), Biobest Group NV (Belgium), ISCA Technologies (US), Trécé Inc. (US), Bedoukian Research, Inc (US), Pherobank B.V (Netherlands), Certis Europe BV (Netherlands), Bioline Agrisciences Ltd (UK), Bio Controle (Brazil), ATGC Biotech Pvt Ltd (India), Sumi Agro France (France), SEDQ Healthy Crops S.L. (Spain), Laboratorios Agrochem, S.L. (Spain), Novagrica (Greece), and International Pheromone Systems (UK).
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