IMARC Group, a leading market research company, has recently released a report titled “Insect Growth Regulators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global insect growth regulators market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Insect Growth Regulators Industry?
According to the report, The global insect growth regulators market size reached US$ 963.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,399.0 Million by 2028, exhibiting a growth rate (CAGR) of 6.69% during 2023-2028.
What are Insect Growth Regulators?
Insect growth regulators (IGRs), also known as pest birth control, are insecticides that disrupt insect growth, development, and transformation. They include synthetic analogs of insect hormones, such as juvenoids and ecdysoids, and non-hormonal compounds like precocenes (Anti JH) and chitin synthesis inhibitors. They are employed to break the life cycle of pests from reaching the maturity stage by preventing reproduction, hatching eggs, and molting from one stage to the next. They are also deployed to control many types of insects, such as cockroaches, fleas, and mosquitos. In addition, they are cost-effective, biodegradable, non-polluting, non-persistent, and non-toxic to humans and plants. As a result, insect growth regulators (IGRs) are widely adopted in industrial, residential, and agricultural sectors.
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What are the growth prospects and trends in the Insect Growth Regulators industry?
The market is primarily driven by the expanding agricultural industry and the escalating demand for insect growth regulators to enhance crop yield. IGRs are non-toxic and effective against pests that develop resistance against insecticides. In addition, the widespread adoption of integrated pest management and organic farming practices is contributing to market growth. Moreover, the rising utilization of liquid IGRs due to their benefits, such as high performance over severe infestations and cost-effectiveness, represents another major growth-inducing factor. Besides this, the growing awareness regarding environmental toxicity and mammalian safety is accelerating the adoption rate of biodegradable product varieties. Furthermore, rising disposable incomes, increasing health concerns regarding food quality among individuals, the advent of professional pest control services, and extensive research and development (RD) activities are creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Chitin Synthesis Inhibitors
- Juvenile Hormone Analogs and Mimics
- Ecdysone Antagonists
- Ecdysone Agonists
Breakup by Form:
- Aerosol
- Liquid
- Bait
Breakup by Application:
- Agriculture
- Residential
- Commercial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Central Life Science (Central Garden Pet Company)
- Control Solutions Inc (China National Chemical Corporation)
- Dow Inc
- Nufarm Limited
- OHP Inc. (AMVAC Chemical Corporation)
- Russell IPM Ltd
- Sumitomo Chemical Co. Ltd.
- Syngenta AG.
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