GLOBAL ALLOMONES MARKET OUTLOOK (2024 - 2030)

The Global Allomones Market achieved a valuation of USD 760.7 million and is expected to attain a market size of USD 1,167.44 million by the culmination of 2030. The market is forecasted to demonstrate a Compound Annual Growth Rate (CAGR) of 5.5% throughout the forecast period spanning from 2024 to 2030.

Industry Overview:

Allomones serve as chemical impediments, with a plethora of these compounds found within the insect realm. Predominantly, these compounds exhibit repulsive, harmful, or toxic attributes towards other species, or they potentiate the efficacy of other active chemicals within secretions. Beyond their shared defensive characteristics, allomones exhibit a vast chemical diversity, encompassing a wide array of compounds ranging from organic acids, alcohols, aldehydes, to ketones, esters, hydrocarbons, lactones, terpenes, quinones, phenolics, amines, hydroquinones, sulfurous compounds, alkaloids, steroids, peptides, polysaccharides, and proteins. Semiochemicals, as chemical messengers synthesized by organisms such as plants, animals, or their synthetic counterparts, evoke behavioral or physiological responses in individuals, whether of the same or different species. These substances find application as bio-pesticides in the preservation of goods and cultivated lands, effectively reducing insect pests. Semiochemicals, owing to their relatively low toxicity, necessitate lower concentrations for efficacy against target pests. Agriculture, horticulture, and forestry constitute the primary domains of semiochemical utilization. The burgeoning prospects for the semiochemical market are underscored by escalating levels of pesticide resistance, the enactment of safer pesticide legislations, and the burgeoning environmental conscientiousness. Principally employed for insect control, semiochemicals largely possess species-specific properties, thereby minimizing environmental harm. Owing to their advantages over conventional methods of pest control, semiochemical compounds hold promise in the management of agricultural pests, particularly within organic cropping systems.

Impact of the COVID-19 Pandemic on the Allomones Market

The allomones market bore the brunt of the COVID-19 pandemic's repercussions. The initial quarter of the pandemic era witnessed a decrease in pesticide production as reported by the Organization for Economic Co-operation & Development (OECD). Global trade disruptions ensued during the lockdown periods implemented to curb the spread of the novel coronavirus, adversely affecting the semiochemical industry due to freight challenges and supply chain interruptions. Nevertheless, exponential growth is envisaged for this industry in forthcoming years, owing to the burgeoning demand for organic foods and organic farming practices across various regions globally. The International Federation of Organic Agriculture Movements highlights a significant surge in demand for organic products during the 2020 pandemic, with retail sales soaring by as much as 30% in select countries.

MARKET DRIVERS:

Expanding Allomones Market due to Growing Demand for Sustainable Crop Protection Solutions

The allomones market is poised for expansion propelled by the escalating demand for sustainable crop protection solutions worldwide. Heightened awareness regarding the detrimental effects of pesticides, coupled with the burgeoning need for sustainable crop protection solutions, is projected to drive the global semiochemical market forward. The upsurge in consumption of high-value crops, including organic foods, fruits, and vegetables, is anticipated to fuel this demand. The proliferation of semiochemicals is further accelerated by the escalating adoption of organic farming practices. Global trends indicating increased demand for organic foods, coupled with heightened public awareness concerning the adverse impacts of synthetic fertilizers and pesticides, contribute to the rising popularity of organic farming on a global scale. Semiochemicals, recognized as bio-pesticides, have witnessed a surge in market demand due to this trend.

Rising Research and Development (R&D) Initiatives and Innovative Product Launches Poised to Facilitate Market Expansion for Key Players

Key players within the global allomones market are focusing efforts on introducing cutting-edge products to the global market, thereby bolstering their product portfolios and facilitating international business expansion. The market for allomones experiences growth attributed to continuous innovation in bio-pesticides and advancements in pesticide management techniques. Additionally, the proliferation of R&D endeavors aimed at broadening the potential application domains of semiochemicals is expected to further support market growth. Ongoing protests against the use of synthetic pesticides, and their detrimental environmental impacts, have provided impetus for swift expansion within the bio-pesticide sector. This has prompted numerous pesticide manufacturers to develop novel management approaches, thereby amplifying global demand for semiochemicals. The product repertoire of semiochemicals continues to expand, propelled by diverse pest management R&D initiatives. Semiochemicals also offer innovative surveillance methods for pre-border biosecurity, significantly enhancing the efficacy of eradicating foreign invasive organisms.

MARKET RESTRAINTS:

Potential Market Restraint Arising from Lack of Awareness Regarding Semiochemicals

The prospective expansion of the semiochemicals market is anticipated to encounter hindrances due to a lack of awareness particularly in growing regions such as the Asia Pacific, the Middle East, and Africa. Many farmers within underdeveloped nations continue to rely on traditional crop protection methodologies, lacking awareness regarding alternative approaches. Semiochemicals entail higher deployment costs in the field compared to traditional synthetic pesticides, with their active ingredients possessing physical properties such as instability, volatility, and sensitivity, thereby significantly restricting market penetration efforts.

Allomones Market– By Crop Type

• Field Crops
• Orchard Crops
• Vegetable Crops)

The Allomones Market is categorized into different Crop Types, including Field Crops, Orchard Crops, and Vegetable Crops. Among these, the Orchard Crops segment is expected to witness lucrative growth in the foreseeable future. This growth is attributed to the increasing demand for organic and clean-label products, which is likely to drive the utilization of orchard crops. Semiochemicals, often applied to orchard crops due to the elevated demand for high-value produce, serve as crucial tools in integrated pest management. Pests such as fruit flies, codling moths, and peach tree borers pose significant threats to orchard harvests, necessitating the use of semiochemicals for protection.

The Allomones Market is further segmented based on regions:

• North America
• Europe
• Asia-Pacific
• Rest of the World

North America is expected to dominate the global allomones market, primarily due to the region's adoption of Integrated Pest Management (IPM) strategies for crop protection. The increasing inclination of producers in the United States and Canada towards sustainable agriculture is poised to drive substantial demand in the region. Moreover, the expansion of regional food trade, particularly in countries like Canada, Mexico, and the US, is fueling the need for high-quality, high-yield food products. The availability of vast cultivation areas further supports the growth of high-value plantations, contributing to North America's significant share in the Allomones market.

Europe is projected to hold the second-largest market share throughout the forecast period, owing to the presence of leading corporations, government support for organic farming, increased investments, and growing consumer awareness regarding the benefits of a healthy diet.

The Asia-Pacific region is anticipated to witness rapid market growth, particularly in Japan, where substantial investments are being made in organic farming. Shin-Etsu, a prominent Japanese company, leads the market share for semiochemicals in the region.

Key Players in the Allomones Market include:

1. Shin-Etsu
2. Bedoukian Research
3. Pacific Biocontrol Corp
4. Suterra
5. Corteva Agriscience
6. Pherobank
7. Certis
8. Isagro Group
9. Koppert Biological Systems
10. Rusell IPM