Semiochemicals Market to Grow at CAGR of 15.84% through 2030 – Increasing Sustainable Agricultural Practices & Rising Pest Proliferation to Bolster Growth, says The Brainy Insights
The semiochemicals market size is anticipated to grow from USD 4.74 billion in 2022 to USD 15.36 billion in 8 years. The rising R&D activities for advanced agricultural activities and the technical advancement in pheromone compounds, particularly aggregation pheromones to capture insects, propel market growth. North America region emerged as the largest global semiochemicals market, with a 39.47% market revenue share in 2022.
Newark, Oct. 03, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the semiochemicals market will grow to USD 4.74 billion in 2022 and reach USD 15.36 billion by 2030. In just eight years, the adverse effect of pesticides on public health, along with the increasing preference for new flavoured products and the development of different meat-based flavoured, are also helping to drive market growth. Further, the growing research, cost-effective production processes, and the increasing execution of integrated pest management practices for sustainable agriculture are also anticipated to drive market growth during the forecast period.
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Key Insight of the Semiochemicals Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in the semiochemicals market. Key factors favouring the growth of the semiochemicals market in North America include the rising demand for organic food products, utilization of the highest amount of insecticides per hectare of cropland and the increasing awareness among the population about the side effects of pesticides. Further, the rising inclination of growers toward sustainable cultivation in the U.S. and Canada is expected to drive market growth in this region.
The orchard crops segment is expected to augment the semiochemicals market during the forecast period.
The orchard crops segment held the largest market share in 2022 and is expected to continue during the forecast period owing to the increased demand for biological pesticides among farmers for field crops. Also, orchard crops are more susceptible to pests, such as fruit flies, codling moths, and peach tree borers. Further, by 2030, the vegetable crops segment will likely dominate the market due to the increasing customer expenditure on fresh food products like vegetables.
The pheromones segment market size is 1.52 billion in 2022
The pheromones segment is anticipated to dominate the market over the forecast period owing to the rising worldwide agricultural production and increasing government support toward the agriculture sector. Furthermore, allomone is a substance produced by an organism that, when it contacts an individual of another species, elicits in the receiver a physiological or behavioural reaction that is adaptively favourable to the emitter but not the receiver.
The mass trapping segment is anticipated to dominate the market by 32.04% in 2030
The mass trapping segment is anticipated to dominate the market in the forthcoming years, owing to the increasing use of semiochemicals to monitor insects through bulk traps.
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Driver: The rising awareness about the advantages of IPM pheromone technologies:
The increasing awareness about the benefits of IPM pheromone technologies, along with the rising public concerns over the potential health threats of synthetic pesticides, are helping to boost market growth. Moreover, the rise in awareness about the harmful effects of chemical pesticides, as well as pheromone properties such as target specificity, are driving factors of the market growth. Further, the increased need for pheromone traps to protect fruit and vegetable crops from pests is also helping to boost market growth.
Restraint: The high maintenance cost:
The rising labour cost along with the limited availability of product limits its usage among farmers are expected to restrain the market growth. Also, inconsistent regulation, the high price of core ingredients, and insufficient R&D expenditure are expected to restrain the market growth. Moreover, the technological limitations of using biological products hamper the market growth.
Opportunity: The increasing innovation in biopesticides and improved pesticide management:
The rising instances of pest infestations on crops worldwide are a driving factor of the market growth. Further, the most rapidly increasing area in agricultural pesticide research & development and commercialization efforts are biopesticides- i.e., pesticides derived from such bio-based resources as bacteria, animals, plants, and certain minerals. Moreover, the biocontrol products are not poisonous to the environment, unlike their chemical counterpart, and only impact the target pests without damaging other beneficial insects. Also, technological innovations, favourable regulations, and increasing research & development investments are anticipated to drive market growth. Moreover, the growing awareness among consumers of developed economies regarding the excessive usage of synthetic pesticides stimulates market growth during the forecast period.
|Report Coverage||Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends|
|Regional scope||The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa.|
|Market Size(unit)||USD Billion|
|Vape Catridge Market CAGR||15.84%|
|Segments Covered||Key Segments are crop type, type, pest control technique, and regions|
Some of the major players operating in the semiochemicals market are:
• Koppert Biological System
• Corteva Agriscience
• Pacific Bio Control Corp
• Bedoukian Research
• Russell IPM
• Isagro Group
Key Segments cover in the market:
By Crop Type:
• Orchard Crops
• Field Crops
• Vegetable Crops
By Pest Control Technique:
• Mass Trapping
• Mating disruption
• Attract & Kill
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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