AGRICULTURAL PHEROMONE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Agricultural Pheromone Market, By Type (Sex Pheromones, Aggregation Pheromones, Alarm Pheromones, and Others), By Crop Type (Field Crops, Fruits & Nuts, Vegetable Crops, and Others), By Application (Crop Protection, Crop Monitoring, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)
The increasing demand for high-value crops and adoption of integrated pest management practices are the major drivers boosting the demand for agricultural pheromones.
Pheromones offer an eco-friendly and targeted solution to control pest infestation as compared to chemical pesticides. Another factor contributing to the market growth is the minimal residue levels and worker safety associated with pheromone use. However, stringent regulations surrounding the use of agricultural pheromones may hamper market growth. Nonetheless, advancements in pheromone production technology along with the development of newer application methods will create lucrative opportunities for market players.
North America dominates the market currently due to large scale farms and growing demand for biorational pest control methods. Asia Pacific is expected to be the fastest growing market led by countries like India and China on account of rising agricultural production and government support for sustainable farming. Europe will also witness significant growth due to focus on integrated pest management programs.