Pune, India, Nov. 09, 2022 (GLOBE NEWSWIRE) -- The global semiochemicals market size was valued at USD 3.72 billion in 2021. The market is projected to grow from USD 4.22 billion in 2022 to USD 11.22 billion by 2029, exhibiting a CAGR of 14.99% during the forecast period 2022-2029.
This information is produced by Fortune Business Insights, in its report titled, “Semiochemicals Market, 2022-2029.”
List of Key Players Mentioned in the Report:
- SEDQ Healthy Crops SL (Spain)
- Pacific Biocontrol Corporation (U.S.)
- Bedoukian Research, Inc. (U.S.)
- Suterra LLC (U.S.)
- Pherobank B.V. (Netherlands)
- CBC Co., Ltd. (Japan)
- Certis USA LLC (U.S.)
- Koppert (Netherlands)
- Isagro S.p.A. (Denmark)
- Russell IPM (U.K.)
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COVID-19 Impacts:
Transport Interruptions amid COVID-19 to Considerably Influence Market
The COVID-19 pandemic has had a notable sway on the global agricultural sector. Interruptions in supply chains, disturbance in marketing activities, and travel limitations have severely influenced the market. For example, as per the Organization for Economic Co-operation & Development (OECD), pesticide production adversely deteriorated during the first few months of the pandemic owing to countrywide lockdowns.
Segments:
Pheromones to Appear as Most Favored Kind in the Sector
The pheromones segment holds a prime share as it is the most used type of crop protection among farmers. Pheromones are semiochemicals generated by species that alter the behavior of other individuals of the similar species.
Mating Disturbance to Arise as Dominating Function among Others
Based on function, the market is segmented into detection & monitoring, mass trapping, and mating disruption. Mating disruption is the dominating function owing to its greater efficiency in low or reasonable pest infestations.
Orchard Crop Holds Key Market Share Stoked by High Demand for High Value Crops
Semiochemicals are predominantly applied on orchard crops in comparison with other crop types, such as vegetables and field crops, owing to the surging demand for high value crops among consumers. Likewise, orchard crops are more vulnerable to pests such as fruit flies, codling moths, and peachtree borers.
Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report offers valuable insights obtained by a thorough study done by our researchers. Extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels are obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
Browse Summary of This Research Insights with Detailed TOC:
https://www.fortunebusinessinsights.com/industry-reports/semiochemicals-market-101617
Drivers and Restraints:
Robust Demand for High Value Crops to Reinforce Growth
In the last few years, consumer inclinations have moved toward healthy and safer foods for better health. The developing trends, such as ingesting organic, clean-label, organic, and pesticide-free foods, have also progressed the face of agriculture across the world. The rising demand for high value crops, such as organic fruits, organic commodities, and vegetables, propels the semiochemicals market growth across the world.
Regional Insights:
North America to Hold Lion’s Share due to Increasing Adoption of IPM
North America is anticipated to hold the largest semiochemicals market share and the size stood at USD 1.15 billion in 2021. It is anticipated to dominate the market during the forecast period owing to the bolstering application of Integrated Pest Management (IPM) solutions for crop protection across the region.
According to the Food and Agricultural Organization, Europe has the second-largest area under organic agriculture. Europe holds the second-highest market share in terms of value. The sturdy demand for organic commodities in the U.K., France, Italy, and Germany has compelled farmers to apply biological crop protection measures in pest management programs.
The development of the Asia Pacific market is chiefly credited to the developing consciousness concerning crop protection and approaches to upsurge crop yield among farmers. The budding agricultural area that is below organic farming is projected to further spur the demand in the region.
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Competitive Landscape:
Partnerships among Companies to Secure their Brand Values in Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering up with other companies to extend their reach to end-users.
Key Industry Development:
May 2022: Syngenta, a key crop protection company, extended its partnership with M2i, a principal technology supplier of pheromone-based crop protection solutions to unveil EXPLOYO Vit, a pheromone-based solution to defend vine crops in France from detrimental pests.
Market Segments
By Crop Type
- Orchard Crops
- Vegetables
- Field Crops
- Other Crop Types
By Type
- Pheromones
- Allelochemicals
By Function
- Detection & Monitoring
- Mass Trapping
- Mating Disruption
By Geography
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Check out more Related Insights by Fortune Business Insights:
Biopesticides Market Size, Share & COVID-19 Impact Analysis and Regional Forecast 2029
Biofertilizers Market Size, Share & COVID-19 Impact Analysis Forecast 2029
Agricultural Biologicals Market Size, Share Forecast 2029
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