Agricultural Pheromone Market Is Estimated To Witness High Growth Owing To Increasing Pest Population

The agricultural pheromone market is estimated to be valued at USD 4.34 Bn in 2024 and is expected to exhibit a CAGR of 12.6% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights’ The agricultural pheromone market is witnessing high growth owing to increasing population of pests across various agricultural crops.

Pheromone helps in monitoring and mass trapping of harmful agricultural pests. Moreover, its usage results in reduced dependence on chemical pesticides thereby promoting sustainable agriculture. Pheromones act as a natural method for integrated pest management. Also, support from regulatory bodies to promote biopesticides is fueling the market growth.

Key Market Trends: Growing Organic Farming Practices: With rising health concerns regarding residues of chemical pesticides, organic farming has gained significant popularity worldwide. As agricultural pheromones are derived from natural sources and degrade quickly, their use is considered important for organic farming. Thus, the expansion of organic farmlands will bolster the demand for pheromone based solutions in the near future.

Increasing Adoption of Precision Agriculture: Precision agriculture leverages modern technologies to optimize agriculture production. Practices such as precision spraying help target pests precisely thereby minimizing chemical pesticide usage. Agricultural pheromones help achieving precision in integrated pest management. This is supporting the adoption of pheromone traps, dispensers and lures in commercial crops.

Agricultural Pheromone Market Opportunities: Mating disruption segment accounts for over 35% of the total agricultural pheromone market share. Mating disruption involves mass trapping of male insects using synthetic pheromones. This confuses the male insects and prevents them from locating and mating with females. As a result, it helps reduce pest infestation in fields and boosts crop yields. The segment is expected to grow at a CAGR of 13% during the forecast period owing to the environment-friendly nature and non-toxic profile of mating disruption techniques.

The detection and monitoring segment is anticipated to exhibit lucrative growth opportunities through 2031. Agricultural pheromones help in early detection of pest infestation and population monitoring. This allows farmers to take preventive actions on time and manage pest infestation. Continuous monitoring also helps evaluate the effectiveness of integrated pest management programs. Use of pheromone lures and traps for detection is gaining preference among growers as it provides accurate information with minimal cost. This is estimated to drive segmental growth at a CAGR of 11% over the next ten years.

Key Market Takeaways: Agricultural Pheromone Market is anticipated to witness a CAGR of 12.6% during the forecast period 2024-2031, owing to growing preference for environment-friendly pest management solutions.

On the basis of type, mating disruption segment is expected to hold a dominant position, owing to non-toxic nature and ability to effectively manage pest infestation.

By crop type, fruit crops segment accounts for over 30% share in the global market. Increased use of pheromones in fruit orchards to boost production is a key factor driving the segment growth.

Regionally, North America is expected to hold a dominant position over the forecast period, due to well established agricultural industry and growing pest management expenditures in the region.

Competitor Insights: Key players operating in the agricultural pheromone market include Bayer AG, BASF SE, Syngenta, Kings Pheromones, and Novagrica among others. Strategic partnerships and new product launches are key strategies adopted by these players to gain competitive edge.

Recent Developments: In June, international leader Xyz Pheromone Technologies debuted its new “Green Bloom” line, comprising three bio-based pheromone lures designed for use in apple, cherry, and pear orchards. Made from renewable plant sources, the lures offer equivalent performance to traditional petroleum-based products but with a substantially reduced carbon footprint. The launch expands Xyz’s portfolio of more sustainable solutions. More information in full report.