Semiochemicals Market Size To Grow At A CAGR Of 15.20% In The Forecast Period Of 2023-2028

Semiochemicals Market Size To Grow At A CAGR Of 15.20% In The Forecast Period Of 2023-2028
Semiochemicals Market Report and Forecast period 2023-2028
Semiochemicals Market Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028

The ‘Global Semiochemicals Market Size, Share, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global semiochemicals market, assessing the market based on its segments like types, functions, crop types, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.

Semiochemicals Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

  • Historical Market Size (2022): Around USD 4.26 Billion
  • Forecast CAGR (2023-2028): 15.20%
  • Forecast Market Size (2028): Around USD 9.95 Billion

Semiochemical is a chemical component or concoction emitted by an organism that impacts the actions or behaviours of other organisms or insects, driving its utilisation as ecologically friendly insecticides due to its biological nature. The word ‘semiochemical’ is drawn from the Greek word ‘semeion’, which implies ‘signal’.

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The communication derived from semiochemical can be segregated into two main categories – communication among individuals of a similar group (intraspecific) or communication between distinct groups (interspecific). It is generally applied in chemical ecology to embody pheromones, allomones, kairomones, attractants, and repellents.

Several insects, along with parasitic insects utilise semiochemicals. Both intraspecific signals and interspecific signals have similar functions and support insects in finding mates, food, and environmental resources while alerting them of enemies.

The increasing importance of organic farming methods, the growing demand for high-cost crops, and the introduction of favourable government initiatives aimed at supporting efficient pest controlling methods are likely to drive the semiochemicals market in the near future. Such aspects also focus on lessening the health issues linked with the use of dangerous chemical-based pesticides and fertilisers, hence driving the utilisation of semiochemicals.

Owing to the rise in pesticide-resistant species, the pheromones category of pesticides is witnessing growth in the global semiochemicals market. The rising demand for efficient pest control as a useful pesticide-resistant is further fuelling the demand for pheromones.

The biopesticides market is anticipated to grow rapidly because of the rising concerns involving the utilisation of synthetic pesticides and their possible damaging impacts on the environment. This is encouraging several pesticide producers to create new pest controlling systems, thereby driving the semiochemicals market.

Semiochemicals Industry Definition and Major Segments

Semiochemicals can be defined as organic composites utilised by insects to communicate certain chemical messages that can alter the conduct or bodily processes. This chemical compound is used by insects to find mates, hosts, or food resources, prevent competition, avoid enemies, and overcome the natural protection techniques of their hosts.

Since semiochemicals can be used to transmit messages to insects across long distances in comparison to touch, along with its biological benefits, their use as ecologically friendly insecticides is rising. Semiochemicals are active at a very minimal concentration present in the environment, hence they have complicated characterisation.

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Based on types, the market can be segmented into:

  • Pheromones
  • Allelochemicals

On the basis of functions, the market has been classified into:

  • Detection and Monitoring
  • Mass Trapping
  • Mating Disruption

By crop types, the market is divided into:

  • Field Crops
  • Orchard Crops
  • Vegetable Crops

The major regional markets for semiochemicals include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Semiochemicals Market Trends

Consumer preferences have shifted towards healthier and safer foods in the past few years amid growing health-consciousness. The surging preferences for organic, clean-label, and pesticide-free foods, and the increasing demand for high-value crops, like organically grown fruits and other products and vegetables, are driving the semiochemicals market demand.

The orchard crops segment of the market is expected to expand substantially over the next few years, as the demand for organic and clean-label products is likely to propel the consumption of such crops. Orchard crops consist of cherries, oranges, apples, hazelnuts, prunes, apricots, pears, figs, walnuts, almonds, kiwis, dates, and grapefruits.

Owing to the growing demand for high-value crops among consumers, semiochemicals are extensively utilised on orchard crops in contrast to other kinds of crops, like field crops and vegetables, hence supporting the growth of the semiochemicals market.

Based on region, North America is anticipated to observe rapid development in the semiochemicals market in upcoming years due to the increasing acceptance of cohesive pest control management systems in organic and sustainable agricultural practices. Besides, the rising requirement for high producing and superior quality crops amid the growing food demand in Canada and the United States is expected to bolster the usage of semiochemicals in the forecast period.

On the other hand, the Asia Pacific region is expected to hold a considerable market share owing to the huge population, the rising demand for organic agriculture, and the surging acceptance of environmentally friendly pest management services in countries such as China and India.

Key Market Players

The major players in the global semiochemicals market are :

  • Bedoukian Research, Inc.
  • CBC (Europe) GmbH
  • Russell IPM Ltd
  • Suterra LLC
  • Isagro S.p.A.
  • others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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