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(MoneyNewsWire.Net, June 06, 2018 ) The pheromones market in agricultural applications is projected to grow at a CAGR of 16.26% from USD 1.99 Billion in 2017, to reach USD 4.23 Billion by 2022. Due to the implementation of integrated pest management practices for sustainable agriculture, pheromones have been gaining a preference for their ease of application, target-specificity, and less toxicity to both the environment and human health, thus limiting the use of insecticides.
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On the basis of crop type, the fruit & nuts segment accounted for the highest adoption of insect pheromones in 2016. Pheromones reduce crop damage, help obtain higher quality produce, and limit agricultural production costs which are highly profitable in the cultivation of high-value fruit & nuts.
For the application segment, mating disruption accounted for the largest market share in 2016 as crop growers prefer the efficient results of sex pheromones to disturb the reproductive cycle of harmful insects through dispensers and sprays.
On the basis of mode of application, the spray method is projected to grow at the highest CAGR in the market from 2017 to 2022 due to the significant usage of microencapsulated spray pheromones for easier application and reachability resulting in effective mating control in terms of area.
The North American region accounted for the highest adoption of pheromones in the agricultural industry in 2016 due to the growing awareness and increasing requirement for important fruit & field crops such as apples, pears, peaches, cotton, and corn. South America is projected to be the fastest-growing region for the pheromones market in agricultural applications from 2017 to 2022 as the significant growth of IPM practices in the agri sector to meet export quality standards strengthened the market potential for pheromone manufacturers to compete in.
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However, the pheromones market in agricultural applications is still evolving with many manufacturers involved in the research and development of cost-effective, productive processes to reduce the prices of the active ingredient. High initial investments in the setting up of traps and regular maintenance needs are considered as drawbacks among the crop growers due to factors such as the uncertainty of the climate and crop prices, which can limit the farmers’ final margins.
Key players identified in the agriculture insect pheromones market include Isagro (Italy), Biobest (Belgium), Suterra (US), Russell IPM (UK), ISCA Technologies (US), Bedoukian Research (US), Troy Biosciences (US), Laboratorios Agrochem (Spain), Pacific Biocontrol Corporation (US), Exosect (UK), and Pherobank (Netherlands) as these are well-established and financially stable players that have been operating in the industry for several years. Most key participants have been exploring new regions through expansions, investments, new product launches, and acquisitions across the globe to avail a competitive advantage through combined synergies.
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