An insect pheromone
is a secreted or excreted chemical factor that triggers a social response in members of the same species. Pheromones are chemicals capable of acting like hormones outside the body of the secreting individual, to impact the behaviour of the receiving individuals. There are alarm pheromones, food trail pheromones, sex pheromones, and many others that affect behaviour or physiology. Pheromones are used from basic unicellular prokaryotes to complex multicellular eukaryotes.
Based on our recent survey, we have several different scenarios about the Insect Pheromones YoY growth rate for 2020. The probable scenario is expected to grow by -9.36% in 2020 and the revenue will be 343.08 in 2020 from US$ 378.51 million in 2019. The market size of Insect Pheromones will reach US$ 567.33 in 2026, with a CAGR of 8.74% from 2020 to 2026.
The report market players include:
Koppert Biological Systems
SEDQ Healthy Crops
Jiangsu Wanhe Daye
In the coming years there is an increasing demand for Insect Pheromones in the regions of Asia that is expected to drive the market for more advanced Insect Pheromones. Growth in government budgets in the principal regions, increasing of penetration rate in developing countries, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of Insect Pheromones will drive growth in developing markets.
The global Insect Pheromones market is significantly large in Europe and North America, majorly due to increasing products demand. Currently, China is dominating the market in terms of volume. Moreover, Asia Pacific is expected to be the fastest growing segment. The key factors attributed to the demand for sustainable and innovative Insect Pheromones in emerging economies, such as China and India among others.
The consumption of Insect Pheromones is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Insect Pheromones industry may not keep that fast. But it is surely forecasted that the market of Insect Pheromones is still promising.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.