April 21, 2024
Integrated Pest Management Pheromones Market

Integrated Pest Management Pheromones Market is Estimated to Witness High Growth Owing to Rising Environmental Concerns

The integrated pest management (IPM) pheromones market involves the use of species-specific pheromones to control and monitor pest populations through techniques such as mating disruption, mass trapping and monitoring. Pheromones being eco-friendly play a crucial role in reducing synthetic pesticide use. IPM pheromone products are cost effective and can last all season. They help in reducing pesticide and labor costs. Some keycrops of IPM pheromones include field crops, orchard crops and vegetable crops.

The Global Integrated Pest Management Pheromones Market Size is estimated to be valued at US$ 783.1 million in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players: Key players operating in the integrated pest management pheromones market include Russell IPM, Hercon Environmental Corporation, SemiosBIO Technologies, Shin-Etsu, Sumi Agro France, Syngenta Bioline Ltd., Trece, Inc., Active IPM, AgrichemBio, AgriSense-BCS Ltd., Laboratorio Agrochem, S.L., ATGC Biotech, and Atlas Agro.

Key opportunities: Growing consumer demand for residue-free food and environmental protection are driving opportunities for IPM pheromone products. Biopesticide manufacturers are investing in R&D to develop new formulations.

Global expansion: Leading players are expanding globally driven by regulations restricting conventional pesticides. Companies are also focusing on emerging markets like Asia Pacific and Latin America for high growth.

Market drivers

The rising environmental concerns about harmful effects of chemical pesticides is a key driver for the integrated pest management pheromones market. Stringent regulations restricting pesticide residues are encouraging farmers to adopt biological alternatives. IPM pheromone products help meet residue standards cost-effectively while protecting crop yields. The market is also driven by growing organic farmland and demand for sustainable agriculture practices worldwide.

PEST Analysis

Political: Governments across various countries are promoting the use of integrated pest management pheromones and other biopesticides over chemical pesticides due to stringent regulations regarding the use of chemical pesticides.

Economic: Farmers and other end-users are opting for integrated pest management pheromones owing to their cost-effectiveness compared to chemical pesticides. These pheromones help reduce crop losses significantly.

Social: Consumers are increasingly demanding residue-free and chemical-free food. This is promoting the adoption of pheromone-based integrated pest management practices among farmers.

Technological: Manufacturers are investing in research & development to develop novel and improved formulations of pheromones that can effectively control pests for an extended duration. Advancements in pheromone dispensing and application technologies are also aiding the market growth.

Geographical regions with high market concentration

The integrated pest management pheromones market in North America and Europe is highly concentrated in terms of value owing to extensive R&D activities and widespread awareness about these biopesticides among farmers. Stringent regulations regarding chemical pesticides also drive revenue generation in these regions.

Fastest growing region

The integrated pest management pheromones market in Asia Pacific region is projected to witness the fastest growth during the forecast period on account of the rising population, increasing demand for food, and growing acceptance of biopesticides over chemical pesticides. Countries like China and India with large agrarian economies offer lucrative opportunities for market players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it