New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Semiochemicals Global Market Report 2023" - https://www.reportlinker.com/p06480062/?utm_source=GNW
, CBC (Europe) GmbH, SEDQ, and Biobest Group NV.
The global semiochemicals market is expected to grow from $3.87 billion in 2022 to $4.56 billion in 2023 at a compound annual growth rate (CAGR) of 17.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The semiochemicals market is expected to reach $8.3 billion in 2027 at a CAGR of 16.3%.
The semiochemicals market consists of sales of kairomones, allomones, synomones and apneumones.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Semiochemicals refer to organic substances employed by insects to transmit specialized chemical instructions that alter physiology or behavior. Semiochemicals are used for organic pest control in farming.
North America was the largest region in the semiochemicals market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in semiochemicals report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of semiochemicals are pheromones and allelochemicals.Pheromones refer to any endogenous substance released in minute amounts by one organism in order to provoke a certain reaction from another organism of the same species.
Semiochemicals are used for different crop types such as field crops, orchard crops, and vegetable crops for applications such as detection and monitoring, mass trapping, and mating disruption.
The rapid adoption of organic farming is significantly contributing to the semiochemicals market going forward.Organic farming refers to the agricultural method that uses biological fertilizers made chiefly from animal and plant wastes, nitrogen-fixing cover crops, and insect treatments with an ecological basis.
Semiochemicals are used in organic farming for pest control as they are generated naturally from plants, making them suitable for organic farming methods.Semiochemicals in agriculture have become increasingly used due to their effectiveness and low environmental impact.
For instance, according to a 2022 report released by the Department for Environment, Food and Rural Affairs (Defra), a UK-based government department responsible for environmental protection, food production, and standards, organic farming practices in the UK increased by 34 % in 2021 compared to 2020. Therefore, the rapid adoption of organic farming will drive the semiochemical market.
Technological advancements are the key trend gaining popularity in the semiochemicals market.Major companies operating in the semiochemicals market are focusing on increasing their applications on important crops such as rice and wheat.
For instance, in March 2022, Provivi Inc., a US-based biotechnology company, partnered with Syngenta Crop Protection, a Switzerland-based crop protection company, to launch Nelvium, a new mating disruption technology to control harmful pests in rice more successfully and safely. Pheromone solutions offer an essential service in insect control, ensuring that using natural technologies can maximize the efficacy and scalability of pest management programs while significantly reducing the emergence of resistant populations.
In July 2022, FMC Corporation, a US-based chemical manufacturing company, acquired BioPhero ApS for an undisclosed amount.The acquisition expands FMC’s expertise in organic farming and pest control using semiochemicals such as pheromones.
BioPhero ApS is a Denmark-based pheromone research and production company.
The countries covered in the semiochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The semiochemicals market research report is one of a series of new reports that provides semiochemicals market statistics, including semiochemicals industry global market size, regional shares, competitors with a semiochemicals market share, detailed semiochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the semiochemicals industry. This semiochemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06480062/?utm_source=GNW
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