Semiochemicals: Redefining Pest Management Strategies

"The Business Research Company recently released a comprehensive report on the Global Semiochemicals Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The semiochemicals market size has grown rapidly in recent years. It will grow from $4.56 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 17.6%. The growth in the historic period can be attributed to market acceptance and education, pest resistance concerns, increased agricultural productivity demands, chemical ecology research, growing advancements in formulations.

The semiochemicals market size is expected to see rapid growth in the next few years. It will grow to $9.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to climate change impact, research and development investments, consumer demand for organic products, precision agriculture adoption, market expansion in developing regions. Major trends in the forecast period include biopesticide preference, targeted pest management, integrated pest management (ipm), expanding agricultural practices, pheromone technology advancements, consumer awareness.

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Market Drivers and Trends:

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.

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Major Key Players of the Market:

Shin-Etsu Chemical Co. Ltd.; Pacific Biocontrol Corp.; Bedoukian Research; Suterra LLC; Pherobank; Isagro Group; Certis Europe B.V.; Corteva Inc.; Russell IPM Ltd; Koppert Biological System; CBC GmbH; Sumisho Electronics Devices Quality Assurance Ltd.; Biobest Group NV; Bioline AgroSciences Ltd.; Hercon Environmental; Scentry Biologicals Inc.; BioPhero A/S; Laboratorios Agrochem S.L.; Bioiberica S.A.; Symbios Technologies Inc.; BioWorks Inc.; Sankyo Kasei Co. Ltd.; Nihon Tokushu Noyaku Seizo Co. Ltd.; Nippon Soda Co. Ltd.; Mitsui Chemicals Agro Inc.; Fumakilla Limited; Nufarm Limited; BASF SE; Bayer AG; Syngenta AG; Dow AgroSciences LLC; DuPont de Nemours Inc.

Semiochemicals Market 2024 Key Insights:

• The semiochemicals market size will grow to $9.67 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%.
• Surging Adoption Of Organic Farming Practices Drives Semiochemical Market
• Technological Advancement Revolutionizing Semiochemicals Market Presence
• North America was the largest region in the semiochemicals market in 2023 and is expected to be the fastest-growing region in the global semiochemicals market report during the forecast period

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