Integrated Pest Management Pheromones Market to Grow at CAGR of 7.3% through 2030 - Rising Population & Rising Demand for Food and Vegetables
The Brainy Insights
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The Brainy Insights
[222 + Pages Latest Research Report] According to a market research study published by The Brainy Insights, the demand analysis of global integrated pest management pheromones market size & share revenue was valued at around USD 753.52 million in 2020 and is estimated to grow about USD 1524.38 million by 2030, at a CAGR of approximately 7.3% between 2021 and 2030. Asia Pacific region is expected to grow at a significant CAGR during the forecast period.
Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 753.52 Million in 2020 integrated pest management pheromones market will reach USD 1524.38 Million by 2030. IPM pheromones are synthetic pheromones that closely resemble pheromones that are naturally produced. Thus, it promotes the robust growth of crops. Depending on the mode of contact, pheromones can be classified as alarm, aggregation, or sex pheromones. IPM pheromones create an environment that is unfavourable to pest growth.
Key Insight of the Integrated Pest Management Pheromones Market
North America emerged as the most significant market, with a 36.9% market revenue share in 2020.
North America dominated the market, with a market share of around 36.9% in 2020. The region's agriculture sector appears to be experiencing an increase in demand for integrated pest management pheromones as farming becomes more mechanised and dependent on an integrated system to assist agribusinesses.
The sex segment dominated the market, with a market share of around 58% in 2020.
In 2020, the sex segment led the market, accounting for about 58% of the market. They are often used in the field to reduce insect populations. These pest management pheromones are recognised as being extremely efficient for pest control since they stop mating disruption and larvae multiplication on trees and crops.
The horticulture segment is expected to register the highest CAGR of 9.38% over the forecasted period.
During the projection period, the horticulture segment is anticipated to grow rapidly at a CAGR of 9.38% as trends change and a more contemporary method of horticulture obtains popularity. Storage facilities are anticipated to increase their market share significantly over the course of the projected period.
The mating disruption segment dominated the market, with a market share of around 35% in 2020.
In 2020, the mating disruption segment led the market, accounting for about 35% of the market. Artificial dispensers created in this integrated pest management strategy confuse male insects, delaying mating and pest multiplication. Sex pheromones are frequently utilised in mating disruption operations to interfere with the behaviour of male insects, which affects the development of moths.
Pheromones are increasingly in demand in the agriculture sector. Some of the factors that affect this include biodegradability, human safety, long-term effects, and widespread application. All of these factors contribute to the growth of the market. The market is driven by two end-use industries: horticulture and storage facilities.
Restraint: Less penetration of IPM pheromones in developing agro-economies
IPM pheromones have a lesser penetration in developing agro-economies like India, Brazil, China, and Thailand when compared to other pesticides. One of the major barriers to market expansion is this. The effective outcomes of pesticides, as well as their prolonged use, restrict farmers' adoption of new techniques. Governments all across the world are launching campaigns to inform farmers and cultivators of the benefits of IPM pheromones.
• North America (U.S., Canada, Mexico) • Europe (Germany, France, 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)
The market is analyzed based on value (USD Million). 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.
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