According to the report “Pheromones Market in Agriculture by Crop Type (Field Crops, Fruits & Nuts, Vegetables), Application (Mating Disruption, Mass Trapping, Detection & Monitoring), Mode of Application (Traps, Dispensers, Sprays), Type, and Region – Global Forecast to 2022“, published by MarketsandMarkets™, the market is projected to grow at a CAGR of 16.26% from an estimated value of USD 1.99 Billion in 2017 to reach USD 4.23 Billion by 2022.
The market is driven by factors such as the successful implementation of integrated pest management practices for sustainable agriculture, growing research and cost-effective production processes, and the impact of pheromones on the reduced application of insecticides. Moreover, the demand is increasing in developing countries such as India andChina where various schemes to incorporate sustainable agricultural practices has become a growing trend.
Mass trapping method is projected to remain in the higher growth curve in the next five years
Factors such as availability of effective trap designs, innovative technical pheromone compounds, especially aggregation pheromones to capture insects of both the sexes are projected to fuel the demand of mass trapping as it can significantly control the insect population and limit insecticide application among crop growers.
Field crops are projected to be one of the important crop type segments in the Pheromones Market
The large cultivated area under field crops such as cotton, corn, rice, and sugarcane in developing regions of Asia Pacificand South America are projected to drive the application of insect pheromones in this segment for Integrated Pest Management (IPM) practices.
Significant competition to capitalize the market potential among international manufacturers in the South American region
Rising export quality requirements for agricultural products and increasing adoption of IPM practices in important fruit-growing nations such as Brazil and Chile are expected to drive the demand for pheromones among the crop growers in the South American region during the forecast period. This would increase the inflow of many international manufacturers to set up their business units and distribution networks thereby leading to a strong market competition.