AGRICULTURAL PHEROMONE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Agricultural Pheromone Market Size and Trends

The global agricultural pheromone market is estimated to be valued at USD 4.34 Bn in 2024. The market is expected to reach USD 9.94 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031.

Key Takeaways of the Agricultural Pheromone Market:

• The sex pheromones segment is expected to account for 45.1% of the market share in 2024
• The field crops segment is projected to hold 45.8% of the market share in 2024, driven by the widespread use of pheromones for pest management in large open-field farming
• The crop protection segment is expected to account for 52.1% of the market share in 2024
• North America is projected to lead the global market with a 29.4% share in 2024, followed by the Asia Pacific region, which is expected to hold 21.8% share

Market Overview:

With increasing population and decreasing agricultural land, the use of pheromones in integrated pest management and other agricultural practices is expected to grow substantially over the coming years. This market is expected to witness significant growth due to rising demand for pest monitoring and control solutions. Farmers around the world are shifting towards sustainable and environment-friendly crop protection methods like pheromone traps instead of chemical pesticides. Synthetic agricultural pheromones that mimic natural insect pheromones are gaining popularity as they allow targeted and species-specific management of pests and causes minimal environmental impact.

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Key Developments:

• In September 2023, Russell IPM LTD, a prominent provider of innovative pest management solutions, launched DISMATE YSB, a cost-effective and user-friendly mating disruption product targeting the rice stem borer. This solution demonstrated exceptional performance during trials, achieving nearly 90% effectiveness in reducing pest populations.
• In May 2023, Biobest Group NV, a global leader in biological crop protection and pollination solutions, announced its intent to acquire BioWorks Inc., a U.S.-based manufacturer specializing in environmentally friendly pest control products, through a letter of intent. This acquisition aims to strengthen Biobest’s presence in the North American market.
• In January 2023, Bayer AG, a world-renowned leader in agricultural science and innovation, entered into a partnership with M2i Group, a French pioneer in pheromone-based technologies. Together, they aim to provide farmers with advanced biological crop protection solutions targeting Lepidoptera pests in crops such as stone fruits, pome fruits, tomatoes, and grapes.
• In May 2022, BASF SE, a leading chemical and agricultural solutions company, acquired Horta S.r.l., an Italian company specializing in digital farming technologies. Horta’s advanced Decision Support Systems (DSS) for crops like grapes, tomatoes, cereals, and olives align with BASF’s vision for sustainable and precision agriculture.

Top Strategies Followed by Global Agricultural Pheromone Market Players

• Established Players: Leading companies focus extensively on research and development to deliver high-performance innovative products. They invest over 10% of their annual revenues in R&D. Companies also form strategic partnerships with other major players and OEMs to gain technical expertise, expand production capabilities, and strengthen market presence globally.
  • For instance, Shin-Etsu formed an alliance with ISCA Technologies to commercialize pheromone formulations. Shin-Etsu partnered with ISCA Technologies to commercialize innovative pheromone formulations, enhancing their global reach in sustainable pest management solutions.
• Mid-Level Players: Mid-sized companies in the market adopt strategies focused on delivering quality yet affordable products, targeting price-sensitive consumers globally. They introduce economical generic versions of patented formulations through in-licensing deals or independent research. This helps them compete with large multinational corporations and expand their customer base. Some players also collaborate with local farmers producer organizations and distributors to improve access to remote and underserved regions.
• Small-Scale Players: Small manufacturers and startups are specialized in discrete market segments or products. They focus on delivering innovations through proprietary technologies targeting specialized applications. Some niche players have expertise in developing bio-rational solutions, attractants for specialized crops, or formulations compatible with organic farming practices. This allows them to leverage unmet demands and collaborate with larger players.

Emerging Startups - Global Agricultural Pheromone Industry Ecosystem

• Innovative Technologies: Several agritech startups are bringing advanced technological solutions. Companies like AgriSense and Semios are applying precision agriculture techniques like digital scent detection and interactive smart traps. They use IoT sensors, data analytics and automation to monitor pest behavior and support proactive management. Such innovations have the potential to transform the industry by enhancing productivity, sustainability and reducing costs over the long run.
• Sustainable Solutions: Emerging companies are also pioneering the development of eco-friendly options. Startups such as Koppert and BioControle focus on formulating biodegradable, recycled, or plant-based active ingredients. They create biopesticide formulations derived from natural sources as alternatives to synthetic chemicals.