The rapidly growing awareness regarding the benefits of organic fruits and vegetables has significantly propelled the adoption of agricultural pheromones. Besides this, the rising government regulations to upsurge research & production processes, the increasing demand for semiochemicals, and raising concerns among customers about the toxicity of synthetic chemical pesticides are the crucial factors propagating the market growth. Moreover, the upsurge in agricultural production owing to the increasing population and sustainable agriculture practices is also likely to boost the demand for pheromones in the forecast period.
According to MarkNtel Advisors' research report "Global Agricultural Pheromones Market Analysis, 2023," the market is likely to grow at a CAGR of around 14% during 2023-28. Based on the type, the sex pheromones acquired the majority market share in 2021. They attract individuals of the opposite gender to mate. The surging adoption of sex pheromones for detection & monitoring techniques and controlling both male & female pest populations are likely to accelerate this segment's growth in the forecast period.
"Global Agricultural Pheromones Market Analysis, 2023" provides comprehensive, qualitative, and quantitative insights on the industry potential, key factors impacting sales & purchase decisions, hotspots, and available opportunities for agricultural pheromones providers worldwide. Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring the competitors' capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Dominated the Market
In 2019, North America dominated the Global Agricultural Pheromones market. The US grabbed the highest market share due to surging pest management solutions for crop production, the rapidly increasing demand for an effective solution to protect crops, and the increasing innovation in semiochemicals. Moreover, the rising government support toward sustainable agrochemicals and the increasing demand for organic fruits & vegetables coupled with the strong foothold of market leaders, altogether, can boost the Agricultural Pheromones Market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Agricultural Pheromones Market Analysis, 2023."
According to MarkNtel Advisors, the key players with a considerable market share in the Global Agricultural Pheromones market are Russell IPM, Shin-Etsu Chemical Company, Isagro S.p.A., Biobest Group, SEDQ Healthy Crops SL, ISCA Global, Suterra LLC, Provivi, Inc., Koppert Biological Systems, Pacific Biocontrol Corporation, etc.
Key questions answered in the study: