Global IPM Pheromones Market is expected to reach USD 2.45 billion by 2020, according to a new study by Grand View Research, Inc. Sex pheromones were widely used in mating disruption techniques of IPM for crop protection in order to increase agricultural yield. Mating disruption being the most effective IPM technique is expected to witness wide acceptance globally thus augmenting sex pheromones demand over the forecast period.
North America dominated the global IPM pheromones market in 2013 holding over 50% share and is expected to continue dominance on account of technological development and rising agricultural yields in U.S., Canada and Mexico. Europe accounted for over 20% of the total IPM pheromones market in 2013. Stringent regulation regarding chemicals used in the region coupled with matured agriculture industry is expected to result in below average growth over the forecast period.
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Further key findings from the study suggest:
In terms of revenue, global IPM pheromones market was valued at USD 1,685.3 million in 2013, and is expected to reach USD 2,451.5 million by 2020, growing at a CAGR of 5.5% from 2014 to 2020.
Sex pheromones are expected to witness the fastest growth at a CAGR of over 5.0% from 2014 to 2020. Sex pheromones are being used widely for mating disruption reducing number of larvae on plants and protecting crops. Extensive adoption of IPM programs by farmers coupled with government initiatives promoting IPM are expected to significantly impact sex pheromones market over the forecast period.
Asia Pacific is expected to witness the fastest growth at a CAGR of over 6.0% from 2014 to 2020, owing to improving economic condition of farmers in emerging economies of India and China thus providing ample avenues for market growth. Increasing adoption of novel technologies in agriculture to increase yield and improve quality is expected to augment IPM pheromones demand in the region over the forecast period. Further, increasing population in the region has resulted in increased food demand thus rising IPM adoption rate positively impacting pheromones market growth.
Key market participants such as Shin-Etsu Chemicals and Suterra LLC have numerous patents relating to pheromones development and use to their credit. Major market players such as Syngenta Bioline, Russell IPM, Sumi Agro France and Hercon Environmental are focusing on developing new IPM pheromones through extensive R&D in their laboratories. Companies are also keen on development of optimum application techniques for IPM pheromones. Other companies in the market include Active IPM, AgBiTech, Agrichembio, Agrochem, ATGC Biotech, Atlas Agro, SemiosBIO and Trécé Inc.
Grand View Research has segmented the IPM pheromones market on the basis of product and region:
Global IPM Pheromones Market Product Outlook (Revenue, USD Million, 2012 - 2020)
Global IPM Pheromones Market Regional Outlook (Revenue, USD Million, 2012 - 2020)
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