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The global agricultural pheromones market size was USD 2.55 billion in 2019. The impact of COVID-19 has been unprecedented and staggering on the global economy, with agricultural pheromone witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the market will exhibit a lower growth of 8.2% in 2020 compared to the average year-on-year growth during 2016-2019. The market is predicted to grow from USD 2.76 billion in 2020 to USD 7.80 billion in 2027 at a CAGR of 15.97% during the 2020-2027 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Pheromones are the chemicals secreted by the insects and animals, which helps in interaction with one another. Insects release these pheromones to attract mates, signal threat, or find food. The utilization of such chemical pheromones, also known as semiochemicals, as an essential component for insect monitoring and pest control in agriculture has proven effective. These pheromones are synthetic copies of natural pheromones that help in the aggregation or attraction of insects. They are utilized for various purposes such as mating disruption, luring, mass-trapping, and others by various strategies adopted. Thus, the increasing use of sustainable and effective crop protection chemicals is anticipated to boost demand during the forthcoming years.
Decline in Market Growth due to Transportation Delays amid COVID-19
The global COVID-19 pandemic has exerted a negative impact on the global economy and the global agricultural and food sectors. Despite the moderate impact of COVID-19 on various agricultural commodities, disruptions in the supply chain, travel restrictions, and interruptions in marketing due to the lockdown announced by the government to contain the spread of the virus have led to a negative impact on the market performance. This has also negatively impacted the food security, crop protection chemicals availability, and livelihood of the farmers.
According to the Organization for Economic Co-operation and Development (OECD) of the United Nations, pesticide production has sharply declined. It could weigh on crop yields and production due to low availability and high price inputs. The workforce shortage is another challenge faced by the industry as the manufacturing plants were temporarily closed down, and self-isolation or travel restrictions were imposed on people. However, several agricultural organizations are making efforts to mitigate the loss due to the pandemic to improve the agricultural sector's supply chain, business opportunities, and smooth functioning.
For instance, the Indian government promotes Farmer Producer Organizations (FPOs) to address the market disruptions amid COVID-19. Thus, these factors are anticipated to drive market growth in the post-pandemic period.
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Technological Advancement Trends to Contribute to Market Growth
The increasing demand for agricultural products has necessitated the utilization and adoption of advanced technologies in agricultural pheromones to improve yields and profits. For instance, a combination of behavioral manipulation pheromones combined with a good pheromone dispenser helps achieve high performance. According to a research paper issued in the Journal of Applied Entomology, 2011, adopting sealed polyethylene vials and the SPLAT (Specialized Pheromone & Lure Application Technology) disrupts communication millet stem borer. Thus, capitalizing on adopting these pheromones combined with other control methods to eradicate pests successfully contributes to market growth.
Increasing Adoption of Integrated Pest Management Practices to Bolster Market Growth
Integrated pest management (IPM) practices focus on long-term prevention of pests combined with cultural, biological controls, habitat manipulation, use of resistant varieties, and others. The IPM, in combination with agricultural pheromones, allows safer protection from pests and poses the least risks. This ensures maximizing the profits and reduction in the costs. The most effective approach is by mass trapping the pests and killing them selectively, without any risk to human health or the environment.
Various farmers use pheromone traps such as tube traps and board traps for efficiently trapping moths and fruit flies and preventing them from damaging fruit and vegetable crops. Along with this, the government of various countries promotes pheromones to reduce the impact of toxic chemicals. For instance, the Ministry of Agriculture & Farmers Welfare, India, is popularizing IPM in farmers by training them and organizing various HRD (Human Resource Development) programs, which is likely to augment the global agricultural pheromones market growth.
Increasing Awareness Regarding Detrimental Effects of Synthetic Pesticides to Drive Market Growth
The current agricultural system intensively utilizes insecticides to ensure the elimination of pests and high productivity. However, these xenobiotics have a negative impact on the environment, beneficial natural predators, parasites, and human health. Therefore, increasing awareness about the detrimental effects of pesticides has led to the increased adoption of alternative crop protection techniques.
Many agriculture and horticulture farmers adopt sex pheromones and attractants to reduce the number of crop-damaging pests and insects effectively. The extensive research and development in the agricultural pheromones industry to improve the efficiency of these products further helps in boosting the market growth. For instance, the Earlham Institute, England, identifies and validates biosynthetic enzymes to produce pheromones of the Coccoidea insect superfamily.
High Maintenance and Production Cost to Restrain Growth
The expensive nature and high maintenance cost of various insect pheromones compared to conventional insecticides and pesticides pose a major restraint in the market growth. The high cost of these pheromones makes it an uneconomical large-scale crop protection option. Pheromones themselves are very costly, and the cost per gram of even the least expensive pheromone is also high. Further, its formulation and additional labor charges for its application increase the overall expenditure.
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Sex Pheromones to Emerge as the Most Preferred Type of Pheromones in Industry
The sex pheromones segment holds the major share in the market as it is the most preferred type of pheromone used for pest management techniques. The species-specific nature, being active even if present in small amounts, and not being toxic to animals are the factors responsible for high utilization of sex pheromones. Along with this, regulatory agencies in several countries, such as the California Environmental Protection Agency, consider the utilization of lepidopteran sex pheromones as safe.
Aggregation pheromones are also gaining popularity as they help overcome host resistance, thus, offering potential opportunities for the segment to grow.
Mating Disruption Likely to Appear as Most Effective Function
Based on function, mating disruption accounts for the larger share in the agricultural pheromones industry. Mating disruption includes using sex pheromones, either male or female, to prevent insects from finding each other and mating. The success rate of using sexual disruption pheromone is higher due to its ability to reduce the pest population. It is the most widely accepted option to control pests in fruits, vegetable crops, and forests.
Detection and monitoring techniques are also adopted for eradicating pests. Automatic detection techniques help in the early detection and removal of aggressive pests, ensuring minimized losses. Mass trapping is also gaining popularity along with the precision agriculture concept as the mass trapping of insects is essential to estimate the pest population to initiate the effective pest management decision.
Dispensers are the Preferable Mode of Application
Dispensers are most preferably used to apply agricultural pheromones, so it holds a larger share in the segment. Dispensers are inexpensive to produce, non-toxic, do not waste active ingredients, and can easily be used in the field. It helps in the deployment of pheromones and other bioactive compounds depending upon pest pressure.
Traps are among the useful application modes as they efficiently capture and retain insects and are cost-effective, thereby experiencing significant demand.
Orchard Crops Projected to Hold Major Market Share
Orchards are the leading crop-type as they are widely cultivated to produce fruits and nuts and the high demand for high-value horticulture crops. These crops are more susceptible to pests such as codling moth, oriental fruit fly, peachtree borer, etc. Hence, the utilization of agricultural pheromones in the horticulture sector is increasing.
North America Agricultural Pheromones Market Size, 2019 (USD Billion)
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North America stood at USD 0.80 billion in 2019 and holds the major agricultural pheromones market share owing to the wide implementation of integrated pest management solutions for crop production and protection across the region. The government of the U.S. and Canada are encouraging the utilization of sustainable agrochemicals for crop protection. The presence of various prominent market players in the region such as ISCA Technologies Inc. and Suterra LLC, that manufacture agricultural pheromones, aids in driving the regional market. The farmers in the region are adopting pheromones for targeted pest control and extensive research on developing innovative semiochemicals that contribute to regional market growth.
Europe is estimated to hold the second-largest market share in terms of revenue. The rapid expansion of the horticulture sector in countries such as France, Spain, and the U.K. has led to an increase in demand for effective crop protection solutions. The extensive demand for natural and environmentally safe pest control devices and agrochemicals for essential fruit crops such as grapes, plums, peaches, and apples contributes to the demand for these pheromones.
In Asia Pacific, agricultural pheromones have grown widely popular among the farmers as they help improve crop yield and maximize profits.
The commercial cultivation of corn, soybean, and coffee crops attracts the increased usage of agricultural pheromone products in South America countries. The growing awareness about the benefits of semiochemicals in effective crop protection in South America and the Middle East and Africa also supports the growth of the agricultural pheromones market.
Capitalizing on New Product Development to Strengthen Market Presence
The market is consolidated with the presence of key players worldwide. SEDQ Healthy Crops SL, Shin-Etsu Chemical Company, Provivi, Inc., Russell IPM, and Isagro S.p.A. are few prominent companies focusing on innovative product launches and strategic expansion of their operation base by adopting sustainable and environmentally safe agricultural solutions. They are aggressively exploring all the untapped opportunities to develop organic, efficient, and sustainable products to offer safe crop protection solutions.
An Infographic Representation of Agricultural Pheromones Market
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The report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Various key insights are an overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key industry trends.
Value (USD Billion)
By Crop Type
Fortune Business Insights says that the global market size was USD 2.55 billion in 2019 and is anticipated to reach USD 7.80 billion by 2027.
Growing at a CAGR of 15.97%, the market will exhibit steady growth during the forecast period (2020-2027).
The sex pheromones segment is expected to lead based on the type in the market during the forecast period.
The adoption of sustainable integrated pest management solutions in agriculture is likely to drive the market growth.
SEDQ Healthy Crops SL, Shin-Etsu Chemical Company, Provivi, Inc., Russell IPM, and Isagro S.p.A., are the key players in the market.
North America dominated the market share in 2019.
The dispenser is the most preferred mode of application, hence is the leading segment of the market during the forecast period.
New product launches, strategic capabilities expansions, and technological developments are the key trends driving the market growth.
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