"We Envision Growth Strategies Most Suited
to Your Business"
April 18, 2019 | Agriculture
In recent years, crop producers have been constantly raising concerns regarding development of pest resistance to synthetic chemical insecticides. It seems that the efforts put in by biotechnology are finally yielding answers to some long-awaited necessities. In terms of naturally-derived pesticides, pheromones were found to be highly efficient. Pheromones have been massively popular among agricultural producers. The worldwide adoption of pheromones had already promised a high market value and as of 2017, Fortune Business Insights stated that the global pheromones market was valued at around US$ 1.92 Bn. Recent biotech advancements in Agricultural Pheromones Market have influenced Fortune Business Insights towards predicting a market value of around US$ 6.21 Bn by the end of 2025.
Backed by ever-increasing demand, biotech companies are putting in more efforts towards research and development of agricultural pheromones. Rising investment in R&D has led to some exceptional discoveries in pheromone products. In tandem with industry developments, few product innovations have been pointed out below:
Currently, most pheromones are manufactured from chemically derived substances. Although the need for pest-management is sufficed by this method, it was found that they had a massive effect on crop life. Furthermore, chemically derived pheromones were deemed over-priced by many. With an aim to develop naturally derived pheromones at affordable rates, the European Union announced the OLEFIN program in 2018. With a hefty budget allocation, the EU hopes that Agricultural Pheromones Market will completely replace synthetic chemical insecticides of the past.
In an era of sustainable farming, increasing pest infestations are giving crop producers, the jitters. With recurrent pest attacks in many parts of India, there was a need to develop a seamless and eco-friendly way of handling pests, without affecting crops. In 2018, scientists at the Indian Institute of Chemical Technology (IICT), Hyderabad, insist to have come up with an eco-friendly way of pest-management. In a theory put forward by these scientists, they claim to have developed an all-natural pheromone trap which would kill pests and insects in the field itself. A spokesperson at the IICT stated that their biological method will help farmers avoid chemical pesticides, and further enhance soil and agricultural value. With successful trials of in-bred methods, India looks to have found the perfect solution to keep pest infestation at bay.
After years of continued efforts, the U.S. cotton manufacturing industry has been deemed bollworm-free. In October 2018, the U.S Department of Agriculture announced that pink bollworm has been completely eradicated from cotton fields across several parts of the country. This has come as a welcoming benefit and lifted all trade-restrictions that were imposed because of the risks associated with bollworm-prevalence. Constant efforts in research and development of agricultural pheromones have proved fruitful. Pheromones have eliminated insect mating massively, and have contributed to a productive rise in cotton-farming, across the country.
Since its industrial debut in 2016, BioPhero has since been renowned for its effective products and business methodologies. Recently, BioPhero introduced an innovative yeast-production for developing pheromones on an industrial scale. This method was particular aimed at providing low cost agricultural pheromones to farmers and crop producers, worldwide. After a series of successive trials, the company received a whopping US $3.3 Mn funding for the marketing of its product. The ease in marketing on account of such a huge funding, is certain to boost the consumption of agricultural pheromones, globally.
Agricultural pheromones were found to be exceptionally beneficial over conventional insecticides. The volatile nature of pheromones helped eradicate soil residues and therefore, many farmers have begun to adopt pheromones over/along with insecticides. With an impactful global portfolio, agricultural pheromones may hold the key to chemical-free crop management.
Author - Tanay Bhalla