Global Integrated Pest Management Pheromones market expected to nearly double by 2033 with growth driven by various factors
From GlobeNewswire: 2024-07-01 22:00:00
The Global Integrated Pest Management Pheromones Market is projected to grow from USD 945.7 million in 2023 to USD 1995.9 million by 2033, with a CAGR of 7.76%. IPM pheromones are essential for modern agricultural and pest control techniques, offering a cleaner and more environmentally friendly alternative to artificial agrochemicals like pesticides. The market is driven by factors such as food security awareness, agricultural innovations, and increasing R&D efforts in sustainable products. North America is expected to dominate the market due to industrialized agriculture and increased demand for IPM pheromones. Europe is anticipated to grow rapidly, driven by technological advancements in agriculture and rising consumer demand for food safety.
The sex pheromones segment is expected to lead the global market, aiding in pest management by disrupting mating processes. Mating disruption is a key application of pheromones, confusing male insects and hindering reproduction. Agriculture is forecasted to have the largest share of the market, driven by the rise of sustainable farming practices and stricter pesticide regulations. The North American agricultural industry is rapidly adopting IPM systems, leading to increased demand for pheromones.
Europe is expected to experience the fastest growth in the global IPM pheromones market, driven by technological advancements, food safety concerns, and strict environmental quality objectives. The market is being fueled by government initiatives to promote biodiversity and reduce pesticide use. Major vendors in the market include Russell IPM, Shin-Etsu Chemicals, Suterra LLC, and BASF SE, among others. Recent developments include Biobest’s acquisition of a stake in Biopartner, aimed at strengthening its position in Poland. The market is segmented based on product type, mode of application, and application area across different regions worldwide.
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