The global agricultural pheromones market offers a huge opportunity for the companies either established in the market or planning to enter into the market. The agricultural pheromones market currently has an undefined supply chain structure with no clear specification of the links like suppliers and distributors and undefined profit percentages. This is the main reason for which suppliers and distributors do not consider agricultural pheromones a profitable category. However, defining the supply chain with a proper profit percentage allocation to each joint in the supply chain and keeping a continuous product flow within the supply chain will certainly help the companies to reach out to increased number of consumers and win a lucrative market share in the near future.
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The high growth in the market is expected because of the need for increasing agricultural production considering a high increase in population over the coming decade. Moreover, the pest management market has received substantial support from the government in terms of investments, trade policies, favorable business environment and efforts toward integrating the supply chain for a smooth circulation of agricultural pheromones.
The major species of pests in which pheromone are commercially applied are codling moth, gypsy moth, and other types. The other type of pheromones includes the pheromones which are formulated for the treatment of pests such as peach twig borer, European grape berry moth, navel orange moth, and multiple other insect species. Pests such as peach twig borer infect some of the most valued crop, such as almond, across the globe and hence is valued comparatively higher than the other commercially available pheromones. Besides, pink bollworm also infects important crops such as cotton. In 2019, one of the major outbursts by pink bollworm was in the state of Maharashtra in India, where the cotton farmers were rattled continuously by the species. Cotton Association of India has taken measures with the inclusion of pheromones for an effective control of the pests.
Europe generated the highest revenue in the agricultural pheromones market in 2018, followed by the North American region. European is one of the largest regions in terms of the availability of land for agriculture and hence has experienced immense infestation through harmful pest species over a long period of time. Moreover, the pheromones market in the region has been experiencing a rapid growth rate in the past few years, owing to the increasing environmental concerns which have led the authorities to regulate the incorporation of harmful chemical pesticides, hence increasing the acceptance of agricultural pheromones in the region.
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Asia-Pacific is an emerging region in the agricultural pheromones industry. Asia-Pacific includes large areas of agriculture land and is also a home to many fruit and vegetable crops grown majorly in countries such as India, China, Australia, and New Zealand. These countries are also actively involved in foreign trading including both imports and exports of agricultural products and commodities. All such factors have made the area more vulnerable to pest infestations and hence led to the active adoption of agricultural pheromone products. In countries such as India, ‘Make in India’ initiative also has opened new horizons of investments through authorities and has seen many companies capitalizing on the opportunities.
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