Agricultural Pheromones Market Drivers, Restraints, Opportunities & Challenges

The global agricultural pheromones market size is estimated to be valued at USD 2.9 billion in 2021. It is projected to reach USD 6.1 billion by 2026, recording a CAGR of 16.1% during the forecast period.

The preference for conventional insecticides is declining. The recent ban on insecticide groups of neonicotinoids, such as thiamethoxam and fipronil, by the European Union is also a key factor that is projected to drive the growth of the agricultural pheromones market in Europe. Despite the growing awareness about IPM through government initiatives, crop growers are increasingly dependent on conventional inputs to increase crop productivity. However, significant growth in the application of pheromones for crops, such as grapes, cotton, sugarcane, peaches, okra, and oil palms, is witnessed in the region.

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Drivers: Pest proliferation as a result of rapid climate change

Rapid changes in climatic conditions have led to the prevalence and occurrence of plant pests and diseases. Continual fluctuations in climate play an important role in crop production and susceptibility of pests. Change in climatic conditions increases the susceptibility of crops to different diseases and pests, thereby negatively impacting the overall crop yield. Hence, changes in the climate not only lead to deviation in farming practices but also results in the decline of crop productivity. These factors have heightened the dependability of farmers on distinguished crop protection products for effective pest prevention, thereby propelling the market demand for agricultural pheromones over the next few years.

Restraints: High maintenance and production cost of agricultural pheromones

Integrated pest management strategy primarily focuses on the long-term prevention of pests by implementing techniques, such as biological control, modification of cultural practices, and utilization of resistant variants. The extensive knowledge of the pest life cycle and their interaction together with the employment of different pest control methods result in appropriate pest management with the least hazard to animal and human health. Therefore, farmers across the globe are focusing on such methodologies to decrease the environmental risks linked with pest management.

Opportunities: Rising global consumption of high-value crops

High-value agricultural products are generally defined as agricultural products with a high economic value per kilogram (or pound), per hectare, or per calorie, which includes fruits, vegetables, meat, eggs, milk, and fish. The key factors driving the demand for high-value crops are the rise in the income of consumers, rapid urbanization, and the increase in awareness of health benefits associated with these high-yield crops. Since the onset of the COVID-19 pandemic, consumer preferences have shifted toward consuming healthy and organic food products to maintain health and improve immunity. Other emerging industry trends, including consumption of safe, natural, clean-label, and pesticide-free products, have also changed the scenario of agriculture across the globe.

Challenges: Need for development of multi-target insect pheromone dispensers

Pheromones are target-specific, and hence, target one species during its period of application. In an apple farm, when codling moths are targeted through monitoring and trapping; other secondary pests such as stink bugs can remain unnoticed, which can lead to higher pest outbreaks and increased pesticide application. This subsequently increases the production costs of the growers. To solve the problem of secondary pest management, it is necessary to develop a product that would target more than one species at the same time. The development of multi-target pest pheromone dispensers is a challenge for many integrated pest management companies.

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The key players in this market include Shin-Etsu Chemical Co., Ltd (Japan), Koppert Biological Systems (Netherlands), Isagro Group (Italy), Biobest Group NV (Belgium), Suterra LLC (US), Russell IPM (UK), ISCA Technologies (US), Trécé Incorporated (US), Bedoukian Research, Inc. (US), Pherobank B.V. (Netherlands), BASF (Germany), Certis Europe BV (Netherlands), Bioline AgroSciences Ltd. (US), Bio Controle (Brazil), and ATGC Biotech Pvt Ltd. (India).

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