The new report by Expert Market Research titled, Global Insect Growth Regulators Market Outlook, Size, Share, Growth, Trends, Report and Forecast 2023-2028, gives an in-depth analysis of the global insect growth regulators market, assessing the market based on its segments like product, form, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 976.71 million
- Forecast CAGR (2023-2028): 6.2%
- Forecast Market Size (2028): USD 1400.78 million
Pest resistance to repeated use of synthetic pesticides, combined with increased awareness of pesticides’ detrimental impact on arable land and human health, is driving up sales of IGRs around the world.
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The adoption of environmentally friendly crop production products is increasing, which is driving up IGR sales because they are so easy to use on crops like cotton, wheat, tomatoes, and maize.
Due to their high efficiency, there is a considerable increase in the application of IGRs across agriculture, residential, and commercial sectors. This, along with the growing adoption of organic farming methods worldwide, is also contributing to the growth of the market. In addition, unlike liquid insect growth inhibitors, an aerosol is easy to clean and leaves no residue.
The capacity of aerosol insect growth regulators to reach difficult-to-reach places and kill insects makes them a viable option for application, boosting market growth.
Insect Growth Regulators Industry Definition and Major Segments
Insect growth regulators are chemicals that prevent insects from growing and developing. It is used to interrupt the life cycle of pest insects by preventing them from reaching maturity and thereby preventing them from reproducing.
Insects develop resistance to pesticides, so farmers apply broad-spectrum insecticides, which eventually lose their effectiveness. As a result, farmers are turning to insect growth regulators instead of broad-spectrum insecticides.
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The market can be broadly categorised on the basis of products into:
- Chitin Synthesis Inhibitors
- Juvenile Hormone Agonists
- Ecdysone Antagonists
- Ecdysone Agonists
The major forms of insect growth regulators are as follow:
- Aerosol
- Liquid
- Bait
The various applications of insect growth regulators are as follow:
- Agriculture
- Residential
- Commercial
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Insect Growth Regulators Market Trends
The market is expected to rise due to factors such as rising environmental concerns and increased awareness about professional pest control services. The application of IGRs does not lead to harmful effects on advantageous soil microbes, animals, and humans.
Numerous advantages of IGRs, such as the lesser harmful impact on the environment and enhanced compatibility with pest management practices, make them attractive alternatives to several insecticides. Farmers are now using organic variations of insect growth regulators to restrict insect development, due to a rise in pest population and growing awareness about the damaging effects of insecticides on the environment.
Also, rising worries about environmental toxicity and mammalian safety drive demand for biodegradable product variants, boosting market expansion. Insect growth regulators are expected to grow as a result of increased acceptance of current technology, rising demand for organic food, and non-toxic pest treatment. Insect growth regulators are gaining popularity due to their ease of usage.
Key Market Players
The major players in the market are OHP, Inc., Syngenta AG, Corteva Agriscience, McLaughlin Gormley King Company, Nufarm Limited, and Control Solutions, Inc., among 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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